Kim Dong-gwan, the third-generation Hanwha owner, has been appointed as an inside director of Hanwha Corporation’s strategy division. He is expected to directly lead Hanwha’s new future businesses, including the space business.
Hanwha Corporation announced that the board of directors held a board meeting on the 7th to vote on the agenda for the general shareholders’ meeting to appoint Kim as a registered executive. The general meeting will be held on the 29th.
Kim Seung-yeon, the eldest son of Hanwha Chairman Kim Seung-yeon, is regarded as the group’s first priority in succession. Since 2020, he has taken the lead in discovering new businesses as the head of Hanwha Corporation’s strategy division. At Hanwha Solutions, he is leading the company as CEO and President. In addition, he is also serving as an inside director of Hanwha Aerospace, expanding his position within the group.
Director Kim also served as the team leader of ‘Space Hub’, which oversees the group’s space business since March of last year. In addition to manufacturing the 75-ton engine for the Nuri-ho, Space Hub is working with the Korea Aerospace Research Institute to develop a Zhejiang dual-propellant thruster called the ‘heart of artificial satellites’. It is also keen on mergers and acquisitions (M&A), such as buying a stake in OneApp, a British space internet company following ‘Setrec I’, a domestic satellite company. A company official said, “We have considered the need for responsible management in the ‘post-corona’ situation of increased uncertainty.”
By Oh Kyung-jin