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

Established in 1946, Hanwha Life is not only a leading life insurance company but also it is the first and oldest in South Korea. Early on, we played a critical role in developing the industry and the country’s economic growth. In 2018, while expanding, we made sure to remain structurally sound, reporting total assets of USD 102 billion. At the end of 2018, we achieved a 212.2 percent risk-based capital (RBC) ratio, demonstrating the soundness of our asset quality. Our strong ratings from domestic and international agencies attest to our creditworthiness. We have received sterling AAA credit ratings from South Korea’s top rating agencies for the past twelve years. We also earned global credit ratings of A1 from Moody's and A+ from Pitch credit rating agencies in 2018.

Hanwha Life is committed to adding innovative products and services that meet a wide range of customer needs. By upgrading our customer, product, and channel (CPC) strategy, we provide customized products and services that solidify our LIFEPLUS brand. We also innovate by aligning our offerings to customer life stages. Using Big Data to analyze customer needs, behavior, and interests, we systematically apply this knowledge to better satisfy customers. To this end, we’ve trained our customer service professionals at call centers to deliver improved care.

Our efforts have been rewarded with the Grand Prize – the Korea Service Award from the Korea Standards Association in the life insurance sector for eight consecutive years through 2017. We were also inducted into the Hall of Fame. The Quality Index survey, managed by Korea Management Asset Consulting, gave us top ranking for nine straight years for customer service and eight years for our call centers. Since our first certification in 2007, the Korea Fair Trade Commission has awarded Hanwha Life with six consecutive Certifications for Excellence in Consumer-Centered Management (CCM).

In the international market, we lead the industry. Our Vietnam subsidiary was founded in 2008, the first of its kind by a South Korea company. With an effective localization strategy and a strong nationwide sales network, we turned a profit in 2016, a first for a South Korean insurer in Vietnam. Our Chinese subsidiary, Sino-Korea Life Insurance, is expanding its sales territory by entering new markets. In Indonesia, our subsidiary is building a balanced profit structure with a long-term perspective. Moving forward, we are setting the foundation to provide digital financial services in major Asian hubs while we pursue non-insurance products and digital financial businesses in Southeast Asia.

In 2019, Hanwha Life continues to secure profitable structures that support value-based sales and primary profit expansion. We plan to expand our global business and secure growth engines in Fintech and Big Data. We push for innovation and, with each success, we’re inspired to drive forward as a world-class life insurance company.

Date of
Establishment
September 1946
Major
Businesses
Life insurance, asset management,
mortgage loans, personal loans
Website
www.hanwhalife.com

Financial Information (KRW, Hundred Milion)

Financial Information
  FY2019 FY2018
Total assets 1,217,568 1,143,025
Total liabilities 1,096,987 1,044,400
Capital stock 43,427 43,427
Other paid-in capital -4,388 -4,388
Hybrid bond 20,563 15,580
Other capital composites 27,869 10,425
Retained earnings 33,110 33,582
Total shareholders’ equity 120,581 98,625
sales 160,836 152,543
Operating Income -1,395 2,953
Income before income taxes 1,129 5,018
Net Income 1,146 3,593
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 2019.

Hanwha Solutions

Established in 1965, Hanwha Solutions’ Chemical division has been at the forefront of Korea’s advancements in the chemical industry. Starting with Korea’s first production of PVC (Polyvinyl Chloride), we began producing a full array of basic petrochemical products including LDPE (Low Density Polyethylene), LLDPE (Linear Low-Density Polyethylene), and CA (Chlor-Alkali), all of which has since served as base products across an wide range of industries. Our products exist in people’s daily lives in various forms and contribute to improving the overall quality of life.

As both a leader and a chemical company in the petrochemical market, we are able to pursue sustainable growth creatively and competitively. We’re expanding our assets to include Polysilicon, a core feedstock for solar PV cells, as well as specialty products like CPVC (Chlorinated Polyvinyl Chloride) and hydrogenated resins.

Hanwha Solutions’ Q CELLS division is a global company for total solar solutions. Q CELLS division is actively pursuing businesses in major global markets by not only building and operating power plants in the mid-stream sector or producing cells and modules, but also securing down-stream value chains, which includes the retailing of electricity.

Hanwha Solutions’ Advanced Materials division has an innovative lineup of products and technology in the fields of lightweight composite materials, photovoltaic materials, and electronic materials. It has established local production and R&D centers in North America, Europe, China, and Korea. Such connections have enabled Advanced Materials division to expand its partnership with various global partners.

Date of
Establishment
August 1965
Major
Businesses
PE, PVC, CA, TDI, solar cells and modules, lightweight composite materials,
photovoltaic materials, and electronic materials
Website
www.hanwhasolutions.com

Financial Information (KRW, Hundred Milion)

Financial Information
  2019 2018
Current asset 12,863 11,135
Non-current assets 69,582 67,071
Total assets 82,446 78,206
Current liabilities 14,401 14,899
Non-current liabilities 17,888 11,794
Total liabilities 32,289 26,693
Capital Stock 8,212 8,212
Capital Surplus 7,208 7,208
Accumulated other
comprehensive income
-19 -35
Retained earnings 34,757 36,128
Total shareholders’ equity 50,157 51,513
Sales 34,493 39,977
Operating income 1,339 3,537
Income before income taxes -803 6,766
Net income -668 5,269
Financial Information
Shareholdings 36.62% 36.51%
Controlling interests 36.62% 36.51%

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 2019.

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
Major
Businesses
Engine parts, Modules etc.
Website
www.hanwhaaerospace.co.kr

Financial Information (KRW, Hundred Milion)

Financial Information
  2019 2018
Current asset 45,636 38,770
Non-current assets 41,448 35,197
Total assets 87,084 73,967
Current liabilities 33,290 31,441
Non-current liabilities 25,240 16,168
Total liabilities 58,531 47,609
Capital Stock 2,657 2,657
Capital Surplus 4,121 3,997
Accumulated other
comprehensive income
3,324 3,312
Retained earnings 14,759 13,731
Total Equity 28,554 26,358
Sales 529,641 44,532
Operating Income 1,652 532
Income before income taxes 1,563 535
Net Income 1,624 493
Financial Information
Shareholdings 33.34% 33.03%
Controlling interests 33.34% 33.03%

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 2019.

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
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
  2019 2018
Current asset 25,852 21,667
Non-current assets 41,757 34,679
Total assets 67,631 56,513
Current liabilities 29,828 29,346
Non-current liabilities 17,328 12,245
Total liabilities 47,156 41,590
Capital Stock 1,531 1,531
Capital Surplus 2,308 2,308
Accumulated other
comprehensive income
4,593 25
Retained earnings 12,043 11,059
Total shareholders’ equity 20,475 14,923
Sales 38,234 35,979
Operating income 2,906 3,074
Income before income taxes 1,513 2,165
Net income 1,128 1,499
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 2019.

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
Major
Businesses
Resorts, hotels, leisure, food services
Website
www.hwrc.co.kr

Financial Information (KRW, Hundred Milion)

Financial Information
  2019 2018
Current asset 2,760 1,561
Non-current assets 21,783 22,989
Total assets 24,543 24,550
Current liabilities 8,851 8,463
Non-current liabilities 10,478 9,569
Total liabilities 19,329 18,032
Capital Stock 1,159 1,159
Capital Surplus 4,202 4,202
Capital Adjustment -136 -136
Accumulated other
comprehensive income
22 -8
Retained earnings -32 1,302
Total shareholders’ equity 5,214 6,518
Sales 6,182 6,655
Operating income -190 74
Income before income taxes -1,477 -313
Net income -1,353 -170
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 2019.

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