Future value of a Korean company

The purpose of a company is to maximize the profits of shareholders.

This is the saying of Jack Welch, who is known as a management genius, and in fact, he closed down unprofitable companies and fired many workers in order to increase corporate value.

However, in Eastern countries like Korea and Japan, seniority is considered important, so natural status and salary were rising, but now, an evaluation method based on performance is emerging.

Hanwha is an abbreviation for Korean Explosives, and the name was changed because the image of the name reminds people of violence and terrorism in English.

This shows a much softer tone, making it easier to advance into the global market than before, and it is not too much to leave a good impression on the Korean people.

The acquisition of Daehan Life Insurance and its transformation into Hanwha Life Insurance, and the acquisition of four Samsung companies (Samsung Thales, Samsung Techwin, Samsung Total, and Samsung General Chemical) in the fall of 2014, have further expanded the company’s external appearance and enabled it to pursue true business diversification.

Hanwha has a strong image of fire, and when viewed as a symbiotic relationship, a tree fuels the fire and water puts it out.

The acquisition and merger of defense and chemical companies may face difficulties due to lack of funds at the moment, but in the future, it can become a filial company and will gradually transform, and there is no shortage of it as a cornerstone.

Chairman Kim Seung-yeon, the chairman of the board of directors, has a solid appearance and a strong driving force.

People, companies, natural persons, and corporations need to change and transform, and in this regard, I believe this decision is the right one. However, this is on the premise that it will not face financial difficulties like Hyundai Motor Company's purchase of KEPCO land.

And Top's thinking must also change. It hasn't been long since we were free from the English body, but thinking back to that time, it is a time when diligence and self-discipline are required.

HanHwa Sustainability Plan(ESG Management)

Under the holding company of Hanwha Corporation, it has affiliates such as Hanwha Life Insurance, Hanwha Solutions in the petrochemical industry, Hanwha Total Energy in energy, Hanwha Aerospace in the defense industry including aviation, Hanwha Ocean in the shipbuilding industry, and Hanwha Energy in the power generation industry.

Now, Hanwha Group is expanding its scope in the defense industry as well as the marine shipbuilding business, so it is a company with promising prospects for the next 10 years.