Who We Are

Through sustained efforts for increased corporate competitiveness and technological innovation,
Hanwha Corporation has continued its growth into a global company with the world's leading
technological expertise and competitiveness.

Subsidiaries Info

Hanwha Life Insurance

Hanwha Life is a leading life insurance company with the longest history in Korea. We have been driving the development of the insurance industry and the country’s economic growth with our customer-oriented management philosophy. In 2014, we reported total assets of USD 84 billion. We have also received a sterling AAA credit rating from Korea’s top rating agencies for the past eight consecutive years.

Leading the industry with innovative products, Hanwha Life is committed to developing new services that will meet both market trends and customer demand, utilizing thorough analysis on the rapidly changing insurance landscape and on recent consumer trends to emphasize life-style issues such as health and retirement. In 2014, the company’s pension plan was named the 2014 Best New Financial Product by the Financial Supervisory Service. With 11 exclusive licenses, more than any competitor, we have been recognized for our original insurance policies.

Hanwha Life has been fulfilling its responsibility as a member of the community. In 2014, we won the “Socially Responsible Company Award” and were inducted to the hall of fame, receiving the prize for ten consecutive years. We also received the Seoul Mayor’s Award for Social Welfare and the Minister of Health and Welfare Award in recognition of contributions to society.

Hanwha Life has also been recognized through various certificates and awards from government organizations and customer satisfaction survey firms. We ranked top in the life insurance sector of the Korea Service Awards hosted by the Korea Standards Association for five consecutive years through 2014. For the 2014 Korea Service Quality Index survey managed by Korea Management Asset Consulting, we were at the top for customer service for five consecutive years and call centers for three consecutive years. Hanwha Life is the first in the industry to be granted Capability Maturity Model Integration (CMMI) level 3 and ePRIVACY mark for privacy protection on our website, leading the industry in our efforts to protect consumer information.

In 2015, Hanwha Life announced a new vision to become a leading player in the global insurance industry. As part of the vision, three mid-to-longterm strategies were established: 1, develop world-class business competencies. 2, ensure cost competitiveness for sustainable growth. 3, expand global presence. We will improve customer convenience by entering growth businesses such as health and pensions, expanding mobile subscriptions, and introducing digital CRM. In addition, we will develop a value-based business management system to reduce cost and increase value. By developing nation-wide sales networks and diversifying distribution channels in China, Indonesia, and Vietnam, we will strengthen our position globally and advance into other markets in Asia including Hong Kong, Malaysia, and Singapore.

Date of
Establishment
September 1946
President &
CEO
Nam Gyu Cha
Major
Businesses
Life insurance, asset management,
mortgage loans, personal loans
Website
www.hanwhalife.com

Financial Information (KRW, Hundred Milion)

Financial Information
  2018 2017
Total assets 1,143,025 1,103,131
Total liabilities 1,044,400 1,013,440
Capital stock 43,427 43,427
Other paid-in capital -4,388 -4,388
Hybrid bond 15,580 4,979
Other capital composites 10,425 14,150
Retained earnings 33,582 31,523
Total shareholders’ equity 98,625 89,691
sales 152,543 170,906
Operating Income 2,953 5,924
Income before income taxes 5,018 6,914
Net Income 3,593 5,255
Financial Information
Shareholdings 18.15% 18.15%
Controlling interests 44.99% 44.99%

Shareholdings are figured based on the number of common shares.

Controlling interest refers to the percentage of subsidiaries'
common shares that Hanwha Corporation effectively holds as of
the end of December 2018.

Hanwha Chemical

Hanwha Chemical was the first company 133 million USD in Korea to produce PVC, LDPE, linear low-density polyethylene, and chlor-alkali. Since our establishment in 1965, we have been manufacturing basic petrochemical products that have served as the foundation of different industries.

Hanwha Chemical has driven the growth of the Korean chemical industry, and our strategic investments to meet growing demand around the world have paid off. Our PVC plant in Ningbo, in China’s Zhejiang province, is currently going through continuous production process improvement to increase annual production capacity by 120% and is expected to produce 360,000 tons of PVC annually in 2015. We are also promoting an alkali soluble resin plant in Bang Phli, Thailand with an annual capacity of 17,000 tons. It will be our key post to enter Southeast Asian markets.

In addition, Hanwha Chemical was the first Korean petrochemicals company to tap new business opportunities in the Middle East. We signed joint venture contracts with International Polymers Company (IPC), a private petrochemical company in Saudi Arabia, and Gulf Advanced Cable Insulation (GACI) in 2011. In 2015, we have achieved cost reduction and economies of scale as the joint venture with IPC began to manufacture ethylene vinyl acetate (EVA), and low-density polyethylene (LDPE). With GACI, we are producing wire and cable compounds. We have subsequently jumped to second place in EVA production capacity, securing our global competitiveness.

Hanwha Chemical is also expanding its global business to cover emerging future industries such as photovoltaics and nanotechnology. As part of Hanwha Group’s efforts to develop the photovoltaic business as a new future growth engine, we acquired global photovoltaic companies to enhance competitiveness. To enhance our upstream solar businesses, we built a polysilicon plant within the Yeosu National Industrial Complex with 10,000 tons of annual capacity and started production in early 2014. We have been leveraging the advantages of our affiliated companies and making strategic investments to become a leading player in the global solar energy market. We will continue to invest in nanotechnology-based materials application technologies including carbon nanotubes and graphene.

Date of
Establishment
August 1965
President &
CEO
Chang Beom Kim
Major
Businesses
PE, PVC, CA, photovoltaics, nanotechnology
Website
hcc.hanwha.co.kr

Financial Information (KRW, Hundred Milion)

Financial Information
  2018 2017
Current asset 11,135 12,105
Non-current assets 67,071 62,731
Total assets 78,206 74,836
Current liabilities 14,899 14,734
Non-current liabilities 11,794 13,124
Total liabilities 26,693 27,858
Capital Stock 8,212 8,297
Capital Surplus 7,208 7,123
Accumulated other
comprehensive income
35 515
Retained earnings 36,128 31,044
Total shareholders’ equity 51,513 46,978
Sales 39,977 39,654
Operating income 3,537 5,884
Income before income taxes 6,766 6,384
Net income 5,269 5,033
Financial Information
Shareholdings 36.51% 36.13%
Controlling interests 36.51% 36.13%

Shareholdings are figured based on the number of common shares.

Controlling interest refers to the percentage of subsidiaries'
common shares that Hanwha Corporation effectively holds as of
the end of December 2018.

Hanwha Aerospace

As the only aircraft engine manufacturer in South Korea, Hanwha Aerospace has become a leader in the cutting-edge machinery industry, specializing in the development, production, and maintenance of aircraft engines. The company has advanced into the aircraft engine business in 1979, beginning with gas turbine engine depot maintenance. Since then, Hanwha Aerospace provided a wide range of gas turbine solutions to the world, including South Korea, and its cumulative production exceeded 8,000 units in 2016. Hanwha Aerospace aims to grow into a global leader in the aircraft engine field by ensuring customer satisfaction based on offering the best quality, price, and delivery competitiveness.

Since the spin-off in April 1st 2018, Hanwha Aerospace(former Hanwha Techwin) has been divided into six subsidiaries: existing subsidiaries(Hanwha Land Systems, Hanwha Power Systems, Hanwha Precision Machinery, Hanwha Systems, Hanwha Defense) and newly established Hanwha Techwin(former Security division) By focusing on each of the business sectors with different characteristics, the companies aim to secure global competitiveness in all business areas.

Date of
Establishment
August 1977
President &
CEO
Hyun Woo Shin
Major
Businesses
Engine parts, Modules etc.
Website
www.hanwhaaerospace.co.kr

Financial Information (KRW, Hundred Milion)

Financial Information
  2018 2017
Current asset 38,770 28,351
Non-current assets 35,197 29,125
Total assets 73,967 57,476
Current liabilities 31,441 21,406
Non-current liabilities 16,168 14,261
Total liabilities 47,609 35,667
Capital Stock 2,657 2,657
Capital Surplus 3,997 1,868
Accumulated other
comprehensive income
3,312 4,358
Retained earnings 13,731 12,911
Total Equity 26,358 21,810
Sales 44,532 42,155
Operating Income 532 829
Income before income taxes 535 178
Net Income 493 -477
Financial Information
Shareholdings 33.03% 32.68%
Controlling interests 33.03% 32.68%

Shareholdings are figured based on the number of common shares.

Controlling interest refers to the percentage of subsidiaries'
common shares that Hanwha Corporation effectively holds as of
the end of December 2018.

Hanwha E&C

Capitalizing on extensive experience and technologies gained over the course of numerous construction projects, Hanwha E&C has been rapidly growing into a global player at an annual average growth rate of 20% since 2002. Our competitiveness is internationally recognized, ranking 72nd on the list of Global Contractors announced by the international construction magazine Engineering News Record (ENR) in 2014. Our goal is to become a world-renowned construction company by 2020 with our “Design the World” vision.

In 2012, we signed a contract for a USD 8 billion project to build a new city in Bismayah, Iraq, and in 2015, won a second infrastructure project there. This pushed the total value of contracts won in Iraq above USD 10 billion. In 2014, we demonstrated our technological prowess by building the world’s largest domed arena in the Philippines. We have also signed contracts to build power and petrochemical plants in the Middle East and North Africa, and we are developing large-scale real estate projects in the Americas.

We are also partnering with other large corporations around the world. For example, Hanwha E&C worked on Saudi Aramco’s USD 600 million maritime terminal construction project in 2012, and Saudi Ma’aden’s USD 935 million chemical plant construction project in 2014. In Korea, one of our major projects is Hanwha E&C’s Dream & Green Incheon EcoMetro. This is the nation’s largest urban development project to date and has elevated our status in the domestic housing construction market. We have also completed a number of other large-scale projects, including the third Gyeongin Freeway, the Pyeongtaek-Siheung Expressway, the privately operated Seoul Station and Cheongnyang- ni Station, the remodeling of the 63 Building and the Galleria Department Store’s Luxury West Wing. We have built more than 45,000 Dream & Green apartments and of officetels throughout Korea, and a series of Galleria Forêt luxury high-rise commercial and residential buildings in Seoul.

Hanwha E&C became Korea’s first private water treatment contractor to be licensed to build private-sector water treatment plants, after developing the nation’s first advanced membrane filtration water treatment technology. We are also developing building-integrated photovoltaic (BIPV) systems and zero-emission solar housing (ZESH) technology. With these efforts, we have become an eco-friendly construction leader.

Date of
Establishment
July 2002
President &
CEO
Kwang Ho Choi
Major
Businesses
Construction and residential complexes, urban development,
industrial plants, civil engineering and water treatment
Website
www.hwenc.co.kr

Financial Information (KRW, Hundred Milion)

Financial Information
  2018 2017
Current asset 21,667 22,787
Non-current assets 34,679 34,182
Total assets 56,513 57,185
Current liabilities 29,346 25,970
Non-current liabilities 12,245 15,593
Total liabilities 41,590 41,563
Capital Stock 1,531 1,531
Capital Surplus 2,308 2,308
Accumulated other
comprehensive income
25 1,098
Retained earnings 11,059 10,685
Total shareholders’ equity 14,923 15,622
Sales 35,979 31,991
Operating income 3,074 1,414
Income before income taxes 2,165 -2,305
Net income 1,499 -1,819
Financial Information
Shareholdings 100% 100%
Controlling interests 100% 100%

Shareholdings are figured based on the number of common shares.

Controlling interest refers to the percentage of subsidiaries'
common shares that Hanwha Corporation effectively holds as of
the end of December 2018.

Hanwha Hotels & Resorts

Hanwha Hotels & Resorts owns and operates an international network of hospitality and leisure businesses. We began operations as the developer of Korea’s first resort condominium project in 1979, and grew rapidly after joining Hanwha in 1986. In 2009, we merged with Hanwha Development and Hanwha 63 City, creating a diversified business portfolio that includes hotels, resorts, gourmet restaurants, banquet services, and leisure attractions.

Hanwha Hotels & Resorts is a major player in Korea’s hospitality industry. We own and operate Seoul’s 410-guestroom luxury boutique hotel, THE PLAZA, and Korea’s largest condominium chain with 12 properties and over 4,800 guestrooms in total. The company is also actively expanding overseas. We operate the Ocean Palace Golf Club and Resort in Naga- saki, Japan and the Saipan World Resort. We also own and operate premier golf courses in Japan and Korea with a total of 126 holes. And, we have partnerships, including with Resort Condominiums International, Tianna Condominiums, the BIP Country Club and Spa in China, Prince Hotels & Resorts in Japan, and the Golden Horse Hotel and Mines Wellness Hotel in Malaysia.

In addition, Hanwha Hotels & Resorts operates a number of themed destinations and resort attractions across Korea, including Seorak Waterpia, Gyeongju Springdome water parks, Jeju Therapy Center, Royal Saddle Equestrian Society, Seorak Cinerama Film Lot, and Jade Garden in Chuncheon. We also operate 63 Square, which features Sea World, Sky Art, Art Hall, and Wax Museum, providing high-quality, satisfactory services to customers.

Leveraging our expertise gleaned from operating 63 Sea World, Korea’s first aquarium, Hanwha Hotels & Resorts also now runs several world-class aquariums in Jeju, Yeosu and Ilsan. With our marine research institute and marine medical centers, we significantly improve the quality of Korea’s aquariums in terms of social responsibility for conserving marine species, breeding techniques and presentation methods. In particular, Hanwha aqua planet ILSAN, which opened in 2014, is the first in Korea to integrate a zoo and an aquarium. The number of visitors exceeded one million a year after its opening, cementing its position as an exceptionally popular urban leisure facility. Hanwha aqua planet also succeeded in going abroad. As its first overseas advancement, the company will operate on commission a 17,800- ton indoor aquarium, called Wanda Nanchang Aquarium in China from May 2016.

The Food Culture (FC) division is providing comprehensive food services, such as contracted food service, dining businesses as well as food materials supply. Our food analysis lab is certified by the food sanitation inspection institution, undergoing a rigorous food sanitation management system. In addition, we also have a state-of-the-art distribution system. Both enable us to retain the leading food provision capacity in the industry. Our contracted food service unit has unique capabilities based on our specialized, systematic operation system. Our dining business unit includes the concession part which provides commissioned dining services in multiuse complex facilities. The unit also runs classy restaurants with differentiated concepts such as Chinese Bistro T-won and French and Italian restaurants Oreno.

Date of
Establishment
March 1979
President &
CEO
Seok Moon, Tae Ho Kim, Young Cheol Kim
Major
Businesses
Resorts, hotels, leisure, food services
Website
www.hwrc.co.kr

Financial Information (KRW, Hundred Milion)

Financial Information
  2018 2017
Current asset 1,561 1,577
Non-current assets 22,989 22,073
Total assets 24,550 23,650
Current liabilities 8,463 7,740
Non-current liabilities 9,569 9,2561
Total liabilities 18,032 16,995
Capital Stock 1,159 1,159
Capital Surplus 4,202 4,202
Capital Adjustment -136 -136
Accumulated other
comprehensive income
-8 99
Retained earnings 1,302 1,332
Total shareholders’ equity 6,518 6,655
Sales 12,474 10,901
Operating income 115 83
Income before income taxes -275 -335
Net income -170 -348
Financial Information
Shareholdings 50.62% 50.62%
Controlling interests 99.32% 99.32%

Shareholdings are figured based on the number of common shares.

Controlling interest refers to the percentage of subsidiaries'
common shares that Hanwha Corporation effectively holds as of
the end of December 2018.

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