The launch of an intermediate holding company grouping Hanwha’s tech and life affiliates has put in motion an independent management system by business area within the group. Hanwha Machinery & Service Holdings (Hanwha M&S) held a launch ceremony on Sunday at The Plaza in Jung-gu, central Seoul, and declared its official establishment.

The launch of an intermediate holding company grouping Hanwha’s tech and life affiliates has put in motion an independent management system by business area within the group. Hanwha Machinery & Service Holdings (Hanwha M&S) held a launch ceremony on Sunday at The Plaza in Jung-gu, central Seoul, and declared its official establishment. At a board meeting that day, it approved key agenda items including appointing the chief executive, setting up various committees and establishing internal rules.

Hanwha M&S consists of two divisions: tech and life. The tech division includes Hanwha Vision, Hanwha Semitech, Hanwha Momentum and Hanwha Robotics, while the life division includes Hanwha Galleria, Hanwha Hotel & Resort and Ourhome. It has 57 affiliates in total, including overseas units. On a consolidated basis at end-2025, revenue was about 6 trillion won and total assets were around 11.3 trillion won.

Kim Hyeong-jo (김형조) was appointed as the first chief executive. Kim joined Hanwha Group in 1994, built experience in business strategy and on-site operations, and served as CEO of Hanwha Hotel & Resort for 4 years from 2021. Kim Dong-seon (김동선), head of future strategy, also attended the ceremony. Kim was promoted to president on Aug. 1 after recognition for achievements including winning large-volume orders for TC bonders for HBM, and then moved to the holding company.

Kim said, "We will build a new management system that maximises expertise and be reborn as a strong and efficient organisation." He added, "We will strive so that our growth can lead to the development of the country and society." Hanwha M&S said it expects the holding company structure to resolve a conglomerate discount and speed up investment and business expansion in the tech and life divisions.

Earlier, Hanwha Corp approved a plan for a spin-off at an extraordinary shareholders meeting on July 15. Hanwha M&S is scheduled to list on the main board on Aug. 25.