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Hanwha scion draws attention amid envisioned sale of Daewoo E&C


Hanwha scion draws attention amid envisioned sale of Daewoo E&C
Posted : 2021-05-05 15:59
By Park Jae-hyuk, Kim Hyun-bin
Hanwha Group Chairman Kim Seung-youn s youngest son, Kim Dong-seon, who is in charge of global strategies at affiliate Hanwha Energy, has come under the spotlight recently for his close relationship with potential buyers of Daewoo Engineering & Construction (Daewoo E&C).
Hanwha headquarters in SeoulAfter the builder s owner, KDB Investment, made an apparent attempt to encourage the sale, promoting Daewoo E&C Chief Financial Officer (CFO) Chung Hang-ki to the position of president last month, tasking him with the deal, local real estate developer, DS Networks, and domestic private equity firm (PEF), SkyLake Equity Partners, were said to have formed a consortium with foreign infrastructure investor, IPM, to take part in the bid. ....

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3rd-generation chiefs reorganize conglomerate portfolios


3rd-generation chiefs reorganize conglomerate portfolios
Posted : 2021-03-09 09:13
By Kim Hyun-bin
Third- and fourth-generation conglomerate chiefs are reorganizing their company portfolios, selling off unprofitable businesses and double downing on future growth sectors to gain competitiveness and better recover from the economic downturn caused by the COVID-19 pandemic.
Koo Kwang-mo who took the helm of LG Group in June 2018 has been focusing on new growth sectors including AI and robotics while selling off unprofitable businesses.
The chairman recently announced the company would sell off LG Electronics mobile communications division, which has incurred consecutive losses for the conglomerate for years.
Soon after he was appointed, LG liquidated fuel cell subsidiary LG Fuel Cell Systems, in addition to deciding to sell LG Electronics Hi-Entech and LG-Hitachi Water Solutions. ....

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Kim Dong-kwan tasked to lead Hanwha's future growth businesses


Posted : 2021-03-01 15:46
By Kim Hyun-bin
Hanwha Group Chairman Kim Seung-youn s eldest son Hanwha Solutions President Kim Dong-kwan, 38, is being appointed to managing positions in key affiliates.
Apart from heading Hanwha Solutions, the younger Kim was made executive director of Hanwha Aerospace last month to push the group s future mobility and aerospace divisions forward
Kim has made a name for himself through his leadership capabilities, establishing Hanwha Solutions as one of the main pillars of the conglomerate, and many industry insiders believe Hanwha Aerospace will likely see rapid growth with him in charge.
The move comes as his father, Chairman Kim Seung-youn, is returning to management after a seven-year absence. ....

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Hanwha, KAI look to space for future growth


Hanwha, KAI look to space for future growth
Posted : 2021-02-05 15:30
By Kim Hyun-bin
Korean defense companies are turning to space exploration for future growth engines as major countries speed up investments in the field.
The global space industry has been growing at a rapid pace in recent years and was valued at $423.8 billion as of July last year, according to a report by the Space Foundation.
Industry watchers believe the rise in autonomous driving will lead to a surge in data use, requiring more broadband satellites orbiting around the earth.
Major defense companies in Korea have been increasing investments in satellite development in order to keep up with the anticipated rise in data demand. ....

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