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Industry

Hanwha approves spin-off to end conglomerate discount

Hanwha will separate its defence, shipbuilding, energy and finance operations from its tech and life businesses after its board approved a shareholder spin-off on Jan. 14. The existing company will keep the core industrial businesses, while a new company will hold tech and consumer units. Hanwha expects the move to ease a conglomerate discount and improve decision-making. It also plans to cancel 4.45 million common shares, raise the minimum dividend and buy back remaining old preferred shares for cancellation.

AI & Enterprise

Hanwha Robotics nominates Woo Chang-pyo as new CEO

Hanwha Robotics said on Jan. 5 it has nominated Woo Chang-pyo, head of Hanwha Vision’s Future Innovation TF, as its new CEO. Woo, 59, holds a master’s degree in Management Science and Engineering from Stanford University and has worked at McKinsey & Company. The company said it will focus on improving manufacturing processes and production efficiency, expand new product launches this year and increase collaboration with affiliates across manufacturing, distribution and services.