Hanwha Group has reshuffled its leadership by promoting key executives and replacing affiliate chief executives at the same time. Hanwha Group said on Wednesday it will implement promotions for key executives and appointments of nominee chief executives at some affiliates on Aug. 1. Kim Dong-kwan (김동관), a vice chairman, is promoted to vice chairman. Kim Dong-won (김동원), president of Hanwha Life Insurance, becomes vice chairman, and Kim Dong-sun (김동선), a senior vice president at Hanwha Vision, becomes president. Five affiliates have new nominee chief executives.

Vice Chairman Kim has led the defence, marine, aerospace and energy businesses, driving overseas market growth and the completion of large projects. Vice Chairman Kim Dong-won has led digital transformation in finance and expanded overseas business, laying the groundwork for future growth. President Kim Dong-sun expanded retail, leisure and food and beverage operations and entered the semiconductor equipment market, delivering results in advanced industries. Hanwha Group plans to move to secure future growth engines, including expanding its business areas, on the back of the promotions.

Hanwha Group also announced nominee chief executives at five affiliates. The company said it selected talent to stabilise management and carry out mid- to long-term growth strategy tasks at each company. Boo-hwan Lee (이부환), a senior vice president nominated as chief executive for Hanwha Aerospace’s business division, is a ground weapons system research and development and overseas business expert who has served as head of the European unit and head of the PGM division. The nominee will take on a role leading the establishment of overseas defence hubs.

Ki-won Yang (양기원), chief executive of Hanwha Impact, is nominated as chief executive of Hanwha Systems. He is a new business model expert who has served as chief executive of Hanwha Corp’s global division and as chief executive of Hanwha Impact’s business division. Hanwha Group assessed him as the right person to lead overseas business expansion in space and defence. Jeong-hoon Kang (강정훈), head of the Daesan plant at Hanwha TotalEnergies, is nominated as chief executive for Hanwha Impact’s business division. A petrochemical site expert who has served as head of the Aromatics Plant 1, he will be responsible for cost innovation and improving the profit structure.

Dong-jun Lim (임동준), head of the Strategic Business Unit and nominee chief executive of Hanwha Asset Management, has previously served as head of the Americas unit. He will lead overseas business growth by strengthening competitiveness in securities management and expanding alternative investments. Ki-cheol Kim (김기철), chief executive of Hanwha Vision, is nominated as chief executive of Hanwha Semitech. The nominee has led an overseas-focused business reshuffle and, while concurrently serving as chief executive of Hanwha Vision, will push to expand the semiconductor equipment business and secure an early lead in the market. The nominees will be appointed following shareholder meetings and board meetings at each company.