Hanwha Profile 2019
A “We engage and listen to our customers to create the solutions they trust us to build.”
Contents
02 CHAIRMAN’S MESSAGE
08 BUSINESS HIGHLIGHTS 10 Chemicals & Materials 20 Aerospace & Mechatronics 28 Solar Energy 36 Finance 46 Services & Leisure 54 Construction
62 Hanwha OVERVIEW 64 Hanwha’s Vision, Spirit & Core Values 66 Hanwha Today 68 Milestones 70 Financial Highlights
72 Hanwha BUSINESSES 75 Manufacturing & Construction 93 Finance 99 Services & Leisure
106 CORPORATE SOCIAL RESPONSIBILITY
114 GLOBAL NETWORK & DIRECTORY
B 1 Chairman’s Message
The world has already moved beyond the Fourth Industrial Revolution. It is now heading toward the next industrial revolution. So are we.
At Hanwha, we believe in building trust and expressing loyalty. Our customers trust us because we’ve earned it over time. In turn, we express our loyalty through contributions to society. Trust and loyalty are in the DNA of every Hanwha employee, motivating us to build for the good of all, amid constant changes and despite them. As a company, our never-ending goal is to improve the lives of everyone we touch. We seek to raise the standards of living and improve the quality of life. We know this is easily said but difficult to attain. And yet, if we persevere, continue to innovate, and build for a better tomorrow, the future is ours to imagine.
Let us not forget how we’ve come so far because it is with this same determination, we must move forward. Despite the rising competition in the Fourth Industrial era, we must continue to innovate and maintain stable growth, just as we have in the past three years. We’ve surpassed the global economic growth rate by 20 percent by recording 4.4 percent CAGR in sales and 5.0 percent CAGR in total assets. We achieved our vision of Quality Growth 2020 ahead of expectations and have become one of the world’s top-tier companies in key business sectors by expanding our portfolios of high-value-added products and by making substantial changes in management. We’re achieving greater sustainable growth and strengthening our competitive advantages in our core businesses: chemical, aerospace, mechatronics, solar energy and financial services. We’re making a difference.
2 3 With our chemical business, we’re leveraging our vertical integration. We’re refining and Embracing innovations and transforming raw materials and basic chemicals into synthetic fuel and advanced materials. We’re winning awards along the way but, more importantly, we’re executing our strategy to use both upstream and downstream production processes to diversify our product portfolios with pursuing opportunities high-value-added products. We continue to expand production capacity with a stable financial structure. In 2020, we will complete our large-scale expansion project, valued at USD 1.3 billion, and expect to sharpen our competitive edge in producing high-value-added resin products while to build a better future also increasing production capacity for ethylene, the petrochemical industry’s base chemical.
In aerospace, we have proven our capabilities by securing large-scale supply contracts with advanced solutions that meet the needs of global customers. In 2019, we signed a supply agreement for USD 1.7 billion worth of aircraft engine parts with Pratt & Whitney, the global aircraft engine manufacturer. Mass production is set for 2022. As a trusted partner and with our world-class technology and quality recognized in the global aircraft industry, we are able to participate in the joint international development project for high-value-added aircraft engines. We are also upgrading our production technology and facilities, anticipating profitability in the long run. In December 2018, Hanwha Aerospace established a production base in Vietnam that will lead our global aircraft engine business with world-class competitiveness and production capacity.
In mechatronics, we’re supporting manufacturing innovations in the Fourth Industrial era by developing logistics automation systems, collaborative robots, and Smart Factory solutions. In 2018, we entered the global market with contracts to supply collaborative robots to six European companies.
Our vertically integrated solar energy business leads the global market, bolstered by our cutting- edge technology and world-class production capacity. We’ve maintained the No. 1 market share in the new market for advanced renewable energy in Germany, the UK, South Korea, and Japan. We completed a 1.7GW capacity module plant in Georgia, USA. Commercial production in the US is only the beginning. Our intent is to build a worldwide production network that links South Korea, Malaysia, China, and the US to lead the eco-friendly energy market of the world.
4 5 In financial services, Hanwha continues to innovate and address the needs of customers, amidst At Hanwha, we’ve remained steadfast to the UN’s Sustainable Development Goals to work challenges of an evolving market. We’ve achieved financial stability and strength by developing together with others to solve global environmental and social issues. Since 2013, we have a customer-centric system and leveraging it to help our clients reach their financial goals. Using supported the Towards a Greener Davos initiative by donating solar modules to the City of Davos advanced digital technology, we expanded Fintech- and Insurtech-based business models and at the World Economic Forum Congress Center. Our Happy Sunshine initiative has brightened digital asset management services. We’re investing in digital platforms to strengthen customer lives across East Asia with solar panels and systems donations to 254 community development service and future financial services. By collaborating with Internet-only banks and Fintech projects. And our Hanwha Solar Forest campaign continues to preserve the environment by startups, we will utilize AI, Big Data, and blockchain technologies to synergize financial businesses planting thousands of trees. To date, we have planted 500,000 trees in seven locations across and advance the financial industry. We’re doing a lot but more importantly, they’re meaningful South Korea, Mongolia, and China. and all aligned to our global growth strategy. But with all the ideas and opportunities, we need people to plan and execute initiatives. That’s Since entering the Vietnamese life insurance market in 2009, we’ve leveraged our nationwide sales why we’re hiring the best talent and fostering creativity. We’re not only building partnerships network and have grown CAGR 58.7 percent in insurance premiums over the past ten years. We with large companies but with small and medium-sized enterprises because we want to succeed will continue to build on our solid reputation to execute our localization strategy and expand our and achieve, together. Our commitment to maintain strict compliance management and the market dominance in the rapidly growing Southeast Asia insurance market. highest standards are creating an ethical corporate culture on the inside and set an example in fair competition and transparency for others to follow on the outside. Our services & leisure affiliates provide differentiated services that cater to evolving leisure lifestyles and residential living. Opened in 2018, our premium marine resort offers visitors unique We continue to face a world filled with uncertainty where advancements in digital technology are experiences with high-end activities like watersports and pampers them in an entire building being accelerated by emerging technologies and changing infrastructure. Still, we will continue to dedicated to providing a VIP experience. We’ve created a new concept in residence services by rise to the challenges. Our response will be to innovate and do what others have not by taking the offering hotel services and amenities for long term and permanent residencies. Our offerings are road less traveled, never losing sight of why or for whom it’s all for our customers. designed to address changing trends and the demand for hotel-like services and conveniences for extended stays. We plan to introduce Total Hospitality, a new urban complex service & leisure business model that meets the needs for senior living. Total Hospitality includes medical services online and offline, hotel-style conveniences, and financial planning and consulting.
And as a conscientious corporate citizen, Hanwha continues to meet our ethical, legal, and economical responsibilities in our business practices. We remain committed to our business philosophy that as a business we have a responsibility to do good. That’s why we are increasing our social contributions and making efforts to resolve common issues in our society. For example, our reforestation programs have built entire forests in parts of China. We also sponsor social events and activities to promote culture, the arts, sports, and eco-friendly energy.
6 7 BUSINESS HIGHLIGHTS
At Hanwha, we partner with our customers. We listen first and only then create solutions. And it is from the understanding of our customers with which we create the products and services that are changing how the world works, lives, and plays.
8 9 SEEK FIND
WE SEEK NEW TECHNOLOGIES WITH WHICH YOU CAN FIND NEW APPLICATIONS.
10 11 Working in Synergy to Enhance Competitiveness From refining basic chemicals to producing synthetic fuel and advanced materials, Hanwha’s integrated portfolio impacts a wide range of industries, including automotive, electronics, and solar energy. By aligning the company’s R&D, in-house supply chain, and manufacturing facilities toward a common vision, Hanwha is better able CHEMICALS to pursue continuous innovation and ENERGY new growth areas while controlling costs. & MATERIALS (OIL REFINING) Jet fuel, diesel fuel, gasoline, LPG Hanwha Petrochemical VALUE-ADDED INTEGRATION
Hanwha researchers are leaders in their fields and passionate about innovating and BASIC PETROCHEMICALS exploring new ways to produce petrochemicals Ethylene, propylene, SM Hanwha Petrochemical butadiene, aromatics (BTX) and advanced materials that our customers naphtha can leverage to push their own limits of what is possible in automotive engineering, solar energy, nanotechnology, and other fields. For example, our breakthrough process for producing the synthetic resin EVA is allowing SYNTHETIC RESINS AND CHLOR-ALKALI companies to manufacture solar cells with SYNTHETIC MATERIALS PRODUCTS higher purity, transparency, and efficiency Hanwha Petrochemical PE, PP, EVA Caustic soda, chlorine Hanwha Solutions Hanwha Solutions PE, PVC EDC, VCM, ECH at lower costs. Hanwha General Chemical PTA TDI
In the automotive industry, our revolutionary lightweight composite materials are prized for their durability and flexibility – comparable to steel in strength but with up to 25 percent ADVANCED MATERIALS Hanwha Solutions Advanced lightweight less mass. This means cars can weigh less but composite materials and parts Electronics materials perform better. These and other innovations Solar materials provide greater value for our customers and attract partnership opportunities for Hanwha, worldwide.
12 13 PETROCHEMICAL A Leader In South Korea
Hanwha continues to be a leading producer in South Korea’s petrochemical sector with total sales of USD 18.1 billion.
ETHYLENE Petrochemical Powerhouse
Hanwha has an ethylene production capacity of over 3.6 million tons and is rapidly becoming a major player in this important market.
’s Daesan Petrochemical Complex 14 15 W&C COMPOUND World-Class Innovation
After developing the W&C compound, an innovative polyethylene synthetic resin, for the South Korean market, Hanwha had in effect, freed the South Korean manufacturers from their dependence on imported resins for power transmissions and distribution cables.
EVA PTA Global Leader Proven PTA Hanwha has built a world-class ethylene Technology vinyl acetate (EVA) production plant with an annual capacity of 710,000 tons. With a purified terephthalic acid (PTA) By adopting new processes and investing production capacity of more than two in advanced facilities, we are developing million tons per year, Hanwha leads the high-value products that are helping to domestic PTA market. As we continue to further increase our market share. export our process technology, we are increasingly recognized around the world for technological prowess.
16 17 AUTOMOTIVE THERMOPLASTICS 70% Global Market Share
Hanwha StrongLite and SuperLite products now account for 70 percent of the global market in GMT (glass fiber mat thermoplastics) and LWRT (low weight reinforced thermoplastics) technologies.
ELECTRIC VEHICLE BATTERY SOLUTION Advanced Eco-Friendly Solution
Hanwha’s new battery housing for eco-friendly electric vehicles is technologically advanced as it uses lightweight composite materials. This product is expected to lead in the electric vehicle battery housing market and set a new bar for other electric battery housing manufacturers. With cutting- edge products, we are leading this market and becoming a major supplier to global automakers.
18 19 QUESTIONS ANSWERS
WE HAVE THE ANSWERS TO THE QUESTIONS YOU HAVE FOR THE FUTURE.
20 21 Leading in Innovation and Expertise We are the only company in South Korea
with advanced aircraft engine technology. TOTAL SOLUTIONS PROVIDER IN AEROSPACE & MECHATRONICS Through our innovations and industrial expertise, Hanwha is becoming a global force in the aerospace and mechatronics industries with outstanding technologies for radars, optronics, avionics, and AEROSPACE
unmanned control systems. Aircraft engines Hanwha Aerospace Aircraft components
AEROSPACE & Aerospace sensors Hanwha Systems MECHATRONICS
From here on earth for the skies above, MECHATRONICS Hanwha is developing world-class products Hanwha Techwin Video surveillance solutions in aerospace and mechatronics to help (video surveillance equipment, integrated management solution, corporations and governments meet their intelligent video analysis solution) future needs in manufacturing, commerce, security, and travel. And we continue to pursue Hanwha Precision Industrial equipment technology partnerships with other leading Machinery (chip mounters, screen printers, EXPLOSIVES semiconductor flip chip mounters, Commercial explosives Hanwha Corporation companies and develop solutions that satisfy total solutions of SMT production) Mining services customers around the globe. Collaborative robots
Hanwha Power Systems Industrial air and gas compressor Gas turbine package Power generation system
Hanwha Corporation Factory and warehouse automation, engine/transmission assembly line, EV motor assembly line Solar cell and module manufacturing equipment, heat treatment furnace Wood pellet production line for biomass power plant, secondary battery production equipment, module packing system
22 23 AEROSPACE USD 13 Billion
Over the past five years,Hanwha Aerospace has secured aerospace contracts worth nearly USD 13 billion by partnering with global aviation engine companies such as Pratt & Whitney, GE, and Rolls-Royce. We also signed an agreement with United Technologies International Corp-Asia Pte Ltd. (Pratt & Whitney subsidiary) to acquire a 30 percent equity interest in P&W NGPF Manufacturing Company Singapore Pte. Ltd. The plan is to manufacture hybrid metallic fan blade parts and high- pressure turbine disks for engines.
Hanwha Aerospace’s aircraft engine production site 24 25 ELECTRONICS Defense Electronics Innovation MACHINERY By leveraging our strategic alliances and building unique technologies in command, control, communication, Expertise computer, and intelligence (C4I), Hanwha Systems is bringing Leads to innovative solutions to global markets. Growth
With more than 50 years of experience in global mechatronics, Hanwha continues to develop innovative technologies for this industry. Our customers use our technology to improve productivity and efficiency.
SECURITY Innovative Security Solutions
Hanwha Techwin has accumulated over 30 years’ worth of core technologies in optics design, image processing, and manufacturing. We’ve built on these technologies with continuous technology development to grow rapidly and become South Korea’s No. 1 video security solutions provider. And by leveraging our expertise and experience, we’re on a trajectory to develop the next-generation technologies in deep learning. AI and business intelligence analytics is not only the natural next progression for our company but also, it is a way for us to increase our presence in the global security market.
26 27 TOMORROW TODAY
WE INVEST IN THE POWER OF TOMORROW SO YOU CAN MEET THE ENERGY DEMANDS OF TODAY.
28 29 Accelerating Energy Sustainability Hanwha has built an integrated solar value chain that begins with the production of cells and modules to downstream businesses, including system solutions, EPC, operations, and more. We are actively promoting our solar energy products in Japan, Europe, and other markets.
SOLAR ENERGY POLYSILICON Hanwha Solutions INTEGRATED SOLAR VALUE CHAIN
MANUFACTURING Hanwha Corporation With superior quality solar products and EQUIPMENT services that have incorporated world-class technology, Hanwha has rapidly become one of the most trusted names in the global solar industry. We are at the forefront of innovation Hanwha Solutions CELLS in the solar energy sector, with sustainable MODULES products and solutions custom-designed to EVA SHEET / BACK SHEET address the global energy challenges of today FOR PHOTOVOLTAIC MODULES and tomorrow. EPC Hanwha Solutions
ENERGY RETAIL
ENERGY SYSTEM SOLUTION
OVERSEAS PROJECT Hanwha Energy DEVELOPMENT
O&M
ENERGY SYSTEM SOLUTION
DOMESTIC PROJECT Hanwha Solar Power DEVELOPMENT
30 31 SOLAR CELLS & MODULES Technology Leader
Hanwha Solutions’ proprietary Q.ANTUM solar cells significantly reduce energy consumption by utilizing PERC (passivated emitter rear contact) architecture. In 2015, the company achieved a record-breaking 19.5 percent efficiency rating with its multicrystalline solar module, the first module of its kind. In 2019, DNV GL, the world’s largest classification society, rated our key products like the Q.ANTUM, a “Top Performer” 4 years in a row.
By the end of 2018, Hanwha Solutions had succeeded in mass-producing 15GW of Q.ANTUM solar cells. Our high-end technology is recognized around the world and has won the Top Brand PV Seal 2020 from EuPD Research 7 consecutive years in Europe and 5 consecutive years in Australia. And in 2016, EuPD Research ranked Hanwha Solutions as the top module manufacturer in the US.
SOLAR RESEARCH & SALES 40+ Countries
Hanwha has state-of-the-art solar energy R&D centers in Germany, South Korea, China, and Malaysia. Its marketing and sales operations are in more than 40 countries throughout Europe, Asia, and North America.
Power plant using Hanwha solar modules in North Carolina, USA 32 33 SOLAR CELL PRODUCTION Global Production Leader
Hanwha Solutions is a world-class leader in solar cell manufacturing with an annual cell production capacity of 9GW.
(as of Q1 2019)
PV MODULES Market Share Leader
In 2015, Hanwha Solutions signed, what was at the time, the largest single contract in the solar industry. The agreement was with the US company, NextEra Energy Resources, to provide more than 1.5GW of solar modules. Hanwha Solutions is the market share leader among all global manufacturers in Japan and the US. We have achieved the largest market share in South Korea, Germany, and the UK. We’re leading the charge in green growth and sustainable development to reduce poverty, create jobs, and advance the synergy between the environment and economy for generations to come.
34 35 INNOVATE SECURE
WE INNOVATE FINANCIAL PRODUCTS SO YOU CAN SECURE A PEACE OF MIND.
36 37 Value-Added Services for Individuals and Institutions Historically, Hanwha has remained solid and stable while offering comprehensive financial solutions, including insurance, banking, securities, and asset management services. INSURANCE Life, non-life insurance Hanwha Life General insurance Hanwha General Insurance FINANCE TOTAL FINANCIAL SOLUTIONS
SECURITIES Hanwha Investment Asset management, & Securities brokerage services, Hanwha offers a complete financial trading, investment banking service platform with insurance, securities, asset management and banking products. We create value for individuals and ASSET MANAGEMENT institutional customers by continuously Stocks, bonds, ETFs, Hanwha Asset Management adapting to today’s rapidly changing derivatives, real estate financial landscapes and providing financial MMFs, PEFs solutions that give customers the freedom to pursue their dreams.
BANKING PRODUCTS Hanwha Savings Bank Deposits, commercial and personal loans
38 39 LIFE INSURANCE A New Milestone
Seventy years after being established as South Korea’s first life insurance company, Hanwha Life has reached a new milestone with USD 89.4 billion (KRW 100 trillion) in total assets. In 2018, we grew and achieved new heights to lead the industry with USD 102 billion in total assets. We’ve maintained a sound financial structure since 2010, when we were first recognized as a major domestic insurer in the securities market. Hanwha Life is achieving industry- leading value in asset management, on-site sales competitiveness, and product development capabilities.
Hanwha Finance Plaza near City Hall in Seoul 40 41 FINTECH Securing Future Growth
Hanwha is leveraging Big Data strategically and applying the latest financial technologies to create sustainable growth in new markets, including online banking, insurance, and lending with mid-range interest rates.
42 43 SALES NETWORK Global Expansion
Hanwha Life continues to advance in the global market with successful subsidiaries in Vietnam, China, and Indonesia. Our next goal is to become the leading insurance company in each of these countries.
44 45 IMAGINE REALIZE
WE IMAGINE DISTINCTIVE EXPERIENCES TO HELP YOU REALIZE YOUR DREAMS.
46 47 Bringing Joy to Life Hanwha’s growing network of unique resorts, hotels, and retail establishments has established the company as a respected leader in the leisure and lifestyle industry.
WIDE-RANGING PREMIUM EXPERIENCES WIDE-RANGING PREMIUM EXPERIENCES RESORTS, HOTELS, Hanwha Hotels & Resorts SERVICES LEISURE, FOOD SERVICES & LEISURE
From first-class shopping experiences to Hanwha Galleria RETAIL & FASHION Hanwha Galleria Timeworld luxury hotels and resort stays, Hanwha is dedicated to helping our customers enjoy richer and more fulfilling lives. We continue to expand our services and leisure businesses COMMERCIAL DEVELOPMENT, Hanwha Station Development to bring dream-like experiences to life for PROPERTY MANAGEMENT people around the world.
Hanwha Estate COMPREHENSIVE REAL ESTATE SERVICE
48 49 RETAIL Premium Contents Producer
The Galleria is Korea's first and foremost premium department store chain. These stores represent Hanwha’s commitment to providing differentiated customer experiences by incorporating timely lifestyle consumer trends into its offerings. As a premium provider in retail, we develop luxury brands, food and beverages, VIP services, and new platforms for both offline and online stores.
Hanwha Galleria Luxury Hall 50 51 AQUARIUMS RESORTS Leader in Luxury Maritime At Its Best
Launched in 2018, Hanwha Hotels & Culture Resorts Geoje Belvedere is an upscale beachfront resort complex that offers Hanwha’s affinity for marine life shows its guests a holistic experience – where in our chain of award-winning aquariums, wellness and wellbeing are taken to including the eco-friendly Aqua Planet a whole new level. Nestled between located in the South Korean cities of Jeju, a lush coastal mountaintop and an Yeosu, Ilsan, and Seoul. Aqua Planet Jeju idyllic sea, the Belvedere is the ultimate features a diverse and world-class marine destination where nature meets aquarium. Aqua Planet Ilsan features luxury. There are 470 rooms, each with an aquarium and a zoo combined. breathtaking views overlooking the Aqua Planet Yeosu showcases Korea’s ocean. Guests can luxuriate in amenities only 360-degree dome aquarium. Our from fine dining and nature immersion expertise in marine-life and aquarium programs to aquatic activities including architecture is renowned and sought out yachting. The Belvedere’s single purpose internationally. is to help guests connect to nature so you can unwind, rejuvenate, and enjoy life as it was meant to be.
HOTELS
One of A Kind
THE PLAZA is South Korea’s most luxurious boutique hotel and considered one of the preeminent hotels in Asia. This 5-star hotel is centrally located in the heart of Seoul, amidst a myriad of tourist attractions and a bustling nightlife. THE PLAZA boasts 400 rooms and over 20,000 square feet of event space. It’s impressive in size but it is in its refined design, impeccable service, and premium accommodations that we take pride. THE PLAZA is the first hotel in Korea to join the Autograph Collection, Marriott International’s premium portfolio of distinctive hotels. We are introducing exclusive services that combine the advantages of a local hotel brand with the benefits of a premier-chain hotel brand.
52 53 ENVISION ACHIEVE
WE ENVISION POSSIBILITIES SO YOU CAN ACHIEVE YOUR GOALS.
54 55 Imaginations to Possibilities Hanwha Engineering & Construction is at the forefront of the global construction business. By building on our deep expertise, our business can successfully expand across chemical and power plants, civil engineering works, commercial buildings, and more. Hanwha City Development, a leading private developer of high-tech industrial complexes, is also gaining PLANTS Petrochemical & refinery plants
CONSTRUCTION GLOBAL CONSTRUCTION LEADERSHIP reputation as an experienced real estate Power plants developer with end-to-end solutions. Environmental & industrial plants Renewable energy
Hanwha partners with customers to Expressways CIVIL WORKS understand their needs and goals. Our deep Roads & bridges Tunnels & ports level of engagement enables us to truly Water & sewage facilities envision before we build and exceed customer BUILDING WORKS Business facilities expectations after we do. From spectacular Commercial facilities Institutional facilities performance venues to cutting-edge Leisure & medical facilities manufacturing facilities to affordable housing IDC Cultural & sports facilities that brings families and communities together, Stations & terminals Hanwha is helping to enrich the lives of Apartments HOUSING millions worldwide. Luxury condominiums Residential & commercial complexes
CITY DEVELOPMENT Development of high-tech industrial complexes
56 57 IRAQ PROJECTS Building A City
Hanwha’s Bismayah New City Project is the unprecedented effort to build an entire city covering nearly 60 city blocks and including over 800 apartment complexes. The Bismayah New City Project is the largest construction project in the history of the Middle East by a South Korean company. And recently, another contract worth USD 2.1 billion to build the social infrastructure for Bismayah city has been secured, pushing the total value of the project to more than USD 10 billion.
Bird's-eye view of the Bismayah New City 58 59 PETROCHEMICAL PLANT DEVELOPMENT Turnkey Solutions
Hanwha Engineering & Construction continues to solidify its market presence in the Middle East and North Africa with industrial, power, and petrochemical plant projects, including the construction of the Saudi- owned Ma’aden petrochemical plant, which will have an annual production capacity of 1.5 million gallons of fertilizer.
SEAWATER SUWON DESALINATION PLANT CONVENTION CENTER Integrated Multiple Energy Innovative Development Projects Hanwha Engineering & Construction is expanding its Hanwha Hotels & Resorts and technologies and capabilities. Hanwha Galleria are partnering One example is the Saudi Yanbu II power to build a hospitality infrastructure, generation and desalination plant. a hotel, a department store, and It produces 15 million gallons of an aquarium. And Hanwha’s water a day. engineering and construction expertise is bringing the visually stunning Suwon Convention Center to life.
60 61 Hanwha OVERVIEW Hanwha’s Vision
Our vision is to touch the lives of every individual in every country in which we operate. We want to elevate the quality of life with our innovations and solutions. And to CHEMICALS & achieve our vision, we’ve set goals to help us lead in all MATERIALS markets our businesses compete in. Anticipating change, A top 5 leader globally
innovating, and investing in future technologies and 2020QUALITYGROWTH infrastructure are at the forefront of our agenda for each of our businesses. At the same time, we remain steadfast in our AEROSPACE & commitment to help our customers grow with us with the MECHATRONICS Global leader in aerospace engine products we build for them. After all, our commitment is to and mechatronics solutions SOLAR ENERGY our customers, employees, and to the world in which we live. Global market leader in solar energy
FINANCE Top financial group Our Spirit & Core Values in South Korea
At Hanwha, we operate with the spirit of trust and loyalty above all else. They are reflected in our core values and serve SERVICES & to guide us in how we do business and why we innovate. LEISURE Top provider of premium leisure Our Core Values experiences and services in South Korea · We believe in challenging the status quo in the pursuit of excellence through change and innovation.
· We are dedicated to our company, customers, and one another to achieve a greater goal.
· We believe in acting with integrity in everything we do, as individuals and employees.
64 65 Hanwha Today
After our founding in 1952, Hanwha has grown into a Fortune Global 500 company. Our business expertise and USD synergies in manufacturing & construction, finance, and B services & leisure have made us the 7th largest business 61.96 TOP TOTAL SALES 7 enterprise in South Korea. And by quickly anticipating and (AS OF 2018) BUSINESS ENTERPRISE IN SOUTH KOREA
responding to changing market conditions, we’ve led the 2020QUALITYGROWTH (TOTAL ASSET BASIS industry with world-class capabilities. Our focus, well-executed AS OF END OF MAY 2019) strategies, and our aggressive investments have helped us to successfully overcome the toughest challenges in key TOP 6 BUSINESS ENTERPRISE IN industries in chemical, aerospace & mechatronics, solar energy, SOUTH KOREA (NET INCOME BASIS and finance. We’re now building the foundation for sustainable AS OF END OF 2018) 351 development and a brighter future for all. GLOBAL NETWORKS (AS OF END OF 2018) 76 DOMESTIC AFFILIATES (AS OF END OF 2018) 67 YEARS OF HISTORY (FOUNDED IN 1952)
66 67 Milestones
Foundation of a Business Business Expansions The Second Foundation Building Momentum Accelerating Global Business 1952–1963 1964 –1980 1981–1995 1996–2006 2007– Present
RESTORING A MODERNIZATION STRATEGIC RESTRUCTURING EMERGING AS NATION’S ECONOMY OF A NATION DIVERSIFICATION FOR THE NEW CENTURY A GLOBAL LEADER Hanwha Life’s investment to expand After the Korean War, Hanwha As the nation’s economy grew, When became During the 1997 Asian financial crisis As the 21st century began, Hanwha globally began with its Vietnam subsidiary played a critical role in reconstructing so did Hanwha. Our success came from Hanwha’s second chairman, that either crippled or nearly paralyzed accelerated global expansion by in 2008 that led to another acquisition – an our devastated nation. In 1952, aggressive and strategic investments in the company’s Second Foundation had most companies in South Korea, diversifying businesses and building a Indonesian life insurance company in 2013. Hanwha took bold actions, innovating robust network of overseas operations. Recently, the company entered the Fintech Korea Explosives Co. (now Hanwha key industries that could accelerate the effectively begun. And in the aftermath of and restructuring. We secured liquidity Hanwha Solutions acquired sector to find more opportunities that Corporation) produced industrial modernization of our nation. In the mid- the global oil shock in the 70’s, one of Mr. by selling profitable affiliates, made US-based AZDEL Inc. and established could lead to greater financial security for explosives desperately needed for 1960s, we established the Korea Hwasung Kim’s key decisions was to diversify into employee job security our priority, and a production subsidiary in the Czech more people worldwide. Solarfun Power the reconstruction of our country’s Industrial Co. (now Hanwha Solutions) the petrochemical business by acquiring moved forward with faith in our spirit Republic in 2007 to increase its standing Holdings and Q.CELLS were acquired in infrastructure. The company succeeded and entered the petrochemicals business. Hanyang Chemicals and Dow Chemicals of trust and loyalty. We sought new as a global automotive component maker. 2010 and 2012, respectively, paving the way in producing nitroglycerin in 1959 and After launching Kyung-In Energy in 1969, Korea. He quickly turned the failing opportunities and began acquisitions. In 2009, Hanwha Solutions began for Hanwha Solutions to join the ranks became only the second country in Asia to we established Hankook Precision in businesses into a global powerhouse One of them was Korea Life Insurance constructing a PVC plant in Ningbo, China. of the world’s top solar cell producers. Our produce industrial explosives. Since then, 1971 (now Hanwha Corporation/ (now called Hanwha Solutions) in the in 2002, a business that we have since In 2012, Hanwha Engineering & solar energy solution business became the market leader in the US, Germany, the UK, much has changed and Hanwha today Machinery). We sharpened our global chemical market. Under Mr. Kim’s grown steadily to make it the second Construction won a USD 10 billion largest life insurance carrier in South contract to construct an entire city in Iraq. South Korea, and Japan. Our progress and has expanded its business enterprise competitiveness in the machinery leadership, we’ve also diversified into Korea with assets of USD 102 billion in It was the largest overseas contract ever successes reflect our efforts and focus to globally. One thing, however, remains the business by acquiring Shinhan Bearing finance and services & leisure. In 1985, 2018. We emerged from the financial awarded to a Korean company. strengthen our global competitiveness and same: our mission that a business should Industrial. And in 1972, we continued to we acquired the Junga Group (now crisis without a single labor dispute and adopt preemptive technologies. contribute to its society; and we do. advance South Korea's industrialization by Hanwha Hotels & Resorts) to were heralded as a role model for other constructing Kyung-In Energy's refinery become Korea’s leading leisure company. South Korean corporations to follow. and power plant. In 1986, we also acquired Hanyang Store (now Hanwha Galleria) and expanded into the retail industry.
1952 Korea Explosives Co. 1965 Korea Hwasung Industrial 1976 Sungdo Securities (now 1994 Hanwha R&D Center is 2002 Hanwha acquires 2007 Hanwha announces its 2012 Hanwha acquires 2015 Hanwha General (now Hanwha Corp.) is (now Hanwha Solutions) Hanwha Investment & built Korea Life Insurance new corporate identity Germany-based Q.CELLS Chemical, Hanwha founded is founded Securities) is acquired (now Hanwha Life) and Hanwha Solutions Techwin and more is launched companies are launched 1986 Hanyang Stores (now Hanwha Galleria) is acquired
68 69 * The financial data in the Financial Highlights show the simple aggregate of sales, risks, market conditions, uncertainties, or changes in circumstances. In addition, Financial Highlights * total assets, total liabilities, and total stockholder equity among Hanwha Group’s the actual results may differ from the published or suggested content herein, * major affiliates at home and abroad. (Source: Hanwha Group) and may change without prior notice due to shifts in market conditions and * Figures for sales and total assets of individual affiliate companies published on change in strategies. This data was generated for reference purposes only. page 75 and subsequent pages of this brochure are data officially announced by Hanwha Group has no obligation to set or change expectations and forecasts the Financial Supervisory Service. for the future contained herein. The data contained herein must not be used for * This outlook data was generated prior to completing the internal financial investment purposes. Hanwha Group does not provide any guarantee for statements, accounting reviews, and an external audit report and are therefore the data and its contents, and has no liability or responsibility for the outcome of subject to change upon settlement of accounts and accounting audit results. investments made based on this data. The outlook data also include information on forecasts that may be affected by
TOTAL SALES TOTAL ASSETS TOTAL LIABILITIES TOTAL In USD Millions In USD Millions In USD Millions STOCKHOLDERS EQUITY In USD Millions
63,471 185,683 37,887 61,963 147,796 176,828 179,331 142,110 142,671 36,659 56,910 34,717
2017 2018 2019 2017 2018 2019 2017 2018 2019 2017 2018 2019 (E) (E) (E) (E)
* Sales are converted into US dollars at the average exchange rate of USD 1= KRW 1,130.84 in 2017, and KRW 1,100.30 in 2018. * Assets, liabilities, and shareholder equity amounts are converted into US dollars at the December 31 closing exchange rate of USD 1= KRW 1,071.40 in 2017, and KRW 1,118.10 in 2018. * The 2019 expectancy data was converted based on Hanwha Group’s internal exchange rate of USD 1=KRW 1,133. 70 71 Hanwha BUSINESSES Manufacturing & Construction
Hanwha Corporation Hanwha Aerospace Hanwha Defense Hanwha Systems Hanwha Techwin Hanwha Precision Machinery Hanwha Power Systems Hanwha Solutions Hanwha General Chemical Hanwha Petrochemical
Hanwha Energy Hanwha Engineering & Construction Hanwha City Development
74 75 Hanwha Hanwha Corporation, the parent We entered the defense industry in 1974 to include self-propelled guns and by achievements, we continue to develop industry worldwide. We produce high- company of the Hanwha Group, is and our Explosives & Defense Division engines for aircraft and fleets, effectively our core business competencies and value-added machinery equipment Corporation a global manufacturing and trading quickly became instrumental in the entering the aerospace business. We then strengthen our internal capabilities. with a focus on heat treatment, factory www.hanwhacorp.co.kr company that has directly contributed to development of South Korea’s military heavily invested in defense electronics automation, and precision processing. the growth of South Korea's economy. defense. We provided the South Korean such as radar and combat systems. By Our Trade Division is an international There are 3 divisions under the military precision-guided munitions, 2018, we became very competitive as trading company that has played a leading Our Machinery Division is leading the EXPERTISE Hanwha Corporation: Explosives/ advanced ammunition, navigation a manufacturer of navigation systems role in globalizing Hanwha Group after logistics automation industry using Explosives: Industrial explosives products, Defense, Trade, and Machinery. systems, lasers, and underwater and lasers – the core technologies of the it was founded in 1966. We have built advanced factory and warehouse raw explosives materials, explosives surveillance equipment. future weapon system. These are our new a global network of more than 27 overseas automation technology that we’ve applications, domestic and overseas Hanwha Corporation was founded growth engines. corporations and offices. Our network been honing for the last 45 years. Our mining services in 1952 as Korea Explosives company, Since entering the mining services allows us to work in synergy in world automation business is stronger than Defense: Precision-guided munitions, quickly becoming the leader in explosives market in 2014, we’ve quickly established Today, Hanwha’s Explosives & Defense markets for the Hanwha Group. ever. We successfully completed the advanced ammunition, underwater and, in effect, creating the industry itself ourselves in Indonesia and Australia Division continues to apply its extensive We’re deepening our network within the world’s first system to automate the surveillance equipment, navigation in South Korea. The company has since with high-quality products and experience and explosives technology countries we operate and in them, setting entire process in tire production. We are systems, laser grown into a global manufacturing services. Then in 2015, we acquired the to expand into raw explosives materials, the groundwork to generate stable profits also innovating and making great strides Trading: Petroleum, petrochemicals, and trading company operating in four Australian mining service company explosives manufacturing, and explosives from businesses in petrochemicals, steel, in production logistics by building Smart steel, machinery, defense sales, business areas—explosives, defense, LDE and by pricing our high-quality applications. machinery, and merchandising. We’re Factories that combine highly automated construction materials, paper, trading, and machinery. products competitively, we were able to intent on discovering and fostering new assets with Industry 4.0 technologies. automation facilities, project organization, accelerate our market expansion. That Our work to bring the level of the business models, including machinery food resources, energy In 1959, Hanwha had become the first same year, we completed our full vertical South Korean defense industry to the exports, food resources wholesaler, And with our technology and ability to domestic manufacturer of dynamite in integration of nitric acid-ammonium Fourth Industrial Revolution era has and energy projects. build quality, we’ve been able successfully Machinery: Solar, factory & warehouse South Korea. After having successfully nitrate-industrial explosives by acquiring been recognized by the South Korean segued into producing high-quality solar automation, powertrain, plant machinery developed safer, high-quality industrial granular ammonium nitrate production government. For our work in the forming We’re set to lead company globally and cells and modules in our world-class explosives and fire process products, lines to produce electronic detonators. the Korean 3-axis system by combining confident we can because along with manufacturing facilities. We’re already 2018 Total Sales we have been able to supply the These detonator products enabled the Korea Air and Missile Defense the advanced operating systems, recognized in solar power equipment In USD millions South Korean government with the us to expand further into other major (KAMD), Kill Chain and Korea Massive we have the people and talents to do so. manufacturing in markets across the crucial means to rebuild its cities and markets across the globe and continue Punishment and Retaliation (KMPR), the globe. With continuous R&D and infrastructure. our innovations and development of South Korean government regard us as Established in 1953, our Machinery innovations, Hanwha Corporation/ high-value-added technologies. Through not only reliable but also as a "trusted Division is today leveraging its deep Machinery will not only be a global 4,748 large mergers and acquisitions, we global partner in providing innovative experience and cutting-edge technology leader in machinery equipment but a further increased our business footprint defense solutions." Not to stay satisfied to lead the machinery equipment total engineering solutions provider. 2018 Total Assets In USD millions 6,957
Hanwha Corporation provides solar machinery to Hanwha Solutions, one of the world’s largest photovoltaic manufacturers, recognized for its high-quality, high-efficiency solar cells and modules.
76 77 Hanwha Hanwha Aerospace is the only components and gas turbine engine We’re in an industry that sees changes Hanwha Hanwha Defense is expanding concept weapon system. It comes with In unmanned ground systems, we are aircraft engine producer in South Korea solutions that our nation needs and great and fast but despite them, we’ve its global business as a total defense a 105mm towed gun and an automatic aggressively driving the effort to bring Aerospace and trusted in the global market for our those that are also desired by markets continuously achieved great successes Defense solutions provider with highly fire control system on a vehicle. the Fourth Industrial Revolution to www.hanwhaaerospace.com original application technologies. all over the world. In 2015, we began a and we remain committed to becoming www.hanwha-defense.co.kr competitive offerings in artillery systems, the defense industry with innovative partnership with UTAS, a company in the top global partner in aviation armored vehicles, air defense systems, Our armored vehicles have been and cutting-edge solutions for future EXPERTISE In 1977, Hanwha Aerospace began Turkey, to export aerospace parts. In the engine parts. Our strategy is simple: We EXPERTISE and unmanned ground systems. recognized for their outstanding battlefields. Our products include the by building businesses in the aircraft same year, our aerospace maintenance anticipate the ever-changing markets maneuverability and adaptability. Tactical Unmanned Ground Vehicle, Gas turbine engines, engine Artillery systems, armored vehicles, engine and film camera industry. Since business also signed a memorandum and address them through continuous In January 2019, Hanwha Land We have seven specialized armored a remote-controlled weapon station, and components, aircraft components air defense systems, then, we’ve aggressively invested in of understanding with GE. In 2016, we development of technology with a focus Systems merged with Hanwha vehicle models that use the K200 or a lithium battery system for submarines. unmanned ground systems research to develop our technologies in became a trusted partner in the global on quality. Defense Systems to become Armored Personnel Carrier as the base, 2018 Total Sales optics, video, and military aircraft engines. aircraft industry when we entered Hanwha Defense. This merger secures including the NBCRV (Nuclear, Biological, We have become a trusted partner In USD millions We’ve then expanded into aircraft a contract with the United States’ Pratt & 2018 Total Sales our highest capability in all areas of Chemical Reconnaissance Vehicle) in global markets by successfully components and commercial engine Whitney to operate a joint venture with In USD millions artillery systems, armored vehicles, air and 120mm self-propelled automatic incorporating advanced technology parts business. To evolve as we have, Singaporean manufacturing company. Hanwha Land Systems defense systems, and unmanned ground mortar. We also produce the K21, without compromising reliability or we’ve had to successfully develop top-tier Our partnership with Pratt & Whitney is systems. By strengthening our product a world-class IFV. quality. We have exported the K200 to 4,047 and original application technologies that a Risk and Revenue Sharing Partnership competitiveness with the combined Malaysia in 1993, marking our first success gave us the competitive edge needed for (RSP) to co-build the next-generation benefits of the technology, experience, We provide a lineup of air defense and in large-scale overseas exports by a South 2018 Total Assets our businesses around the globe. And as aircraft engine. This partnership 703 and outstanding talents of both guided missile solutions that are optimal Korean defense company. We are also In USD millions our technologies advanced, so did our represents our joining the ranks of other companies, we are firmly established as for a range of operations to combat exporting our K9 self-propelled howitzer expertise and our ability to not only meet leading aircraft engine manufacturers Hanwha Defense Systems a sustainable global defense company. mid- and low-altitude aerial threats. Our and K10 ammunition resupply vehicle the changing market demands but also of the world. In 2017, we established a Gun and Missile Air Defense System BIHO overseas. In addition, we developed anticipate them. production base in Vietnam to improve In artillery systems, we’re developing is used in air defense operations. The the BIHO (Gun and Missile Air Defense 6,615 artillery solutions for modern warfare BIHO has boosted the anti-air defense System) and the Tigon (a wheeled our cost competitiveness and increase 635 As South Korea’s only manufacturer of production capacity. In 2019, we acquired based on our experience and technology capabilities of the South Korean armed armored vehicle), which secure our gas turbine engines for the last 40 years, EDAC Technologies, the US aircraft engine in the defense industry. We have applied forces. Because of its excellent maneuver technological competitiveness for export Hanwha Aerospace total sales and 2018 Total Assets total assets are based on consolidated we have been in a fortunate position component manufacturer, to expand our our experience in producing more than capabilities, the BIHO can be highly as we actively engage in overseas In USD millions financial statements. to capitalize on all the opportunities to product portfolio and leverage high-end a thousand K55 self-propelled howitzers. effective in various air defense operations, marketing. build a powerful business in aerospace. processing technology. Hanwha Land Systems We developed the K9 self-propelled such as in mechanized infantry. The We now provide a range of aircraft howitzer, the world’s top-quality howitzer CHUNMA is South Korea’s first surface-to- Hanwha Defense is South Korea’s with overwhelming firepower, high air guided system, an effective weapon leading defense company. Through hard maneuverability, and survivability. Our system against low-altitude aerial threats work and strong R&D investments, we 1,201 K10 ammunition resupply vehicle is the on core assets. We also produce more are also becoming a leader in the global world’s first fully automated ammunition than 40 other land-based launcher defense industry and gaining recognition Hanwha Defense Systems resupply system equipped with a K9 self- systems and naval launchers, as well as for delivering reliability and quality in the propelled howitzer. Our EVO-105 evolved other related products. same solution. 708 wheeled self-propelled howitzer is a new-
World-class quality and continuous R&D have Sales and total assets are based on each propelled Hanwha Aerospace’s success as company’s financial statements before the a global aviation products supplier for fighter merger of Hanwha Land Systems and jets and UAVs. Hanwha Defense Systems.
Leveraging our industry experience and expertise, Hanwha Defense is becoming a leading defense company with cutting-edge convergence solutions.
78 79 Hanwha Converging defense ICT and (AESA) radar for the next-generation Our seven customer support centers Hanwha Hanwha Techwin has taken its Our products are sold through more than information infrastructure is part of South Korean fighter KF-X. We are also across the nation provide product 30 years of technological prowess 16,000 global sales networks across Europe, Systems Hanwha Systems’ deep efforts to developing core avionic electronics for support for weapon systems operations. Techwin to build a renowned global security the Americas, the Middle East, and Asia. www.hanwhasystems.com bring the Fourth Industrial Revolution to fixed wing, rotary wing, and unattended Hanwha Systems offers integrated www.hanwhatechwin.com company. The strength and breadth of our networks the public and private sectors, systems. logistics support (ILS) with timely affords us the ability to market and sell our including the military. customer support, guaranteed. Established in 1977, Hanwha Techwin’s products directly to our customers. EXPERTISE EXPERTISE Our surveillance and reconnaissance advanced optical design, manufacturing, Video surveillance solution System: Aerospace systems, surveillance, Hanwha Systems is a leading global systems that we developed for South Hanwha Systems ICT division has and image-processing technology Incorporating the next generation of and reconnaissance systems, C4I-SR total solutions company providing Korea’s national defense include the accrued deep level experience in systems have made it a global leader in video technologies, such as deep learning, AI, and systems, naval systems, land systems, differentiated smart technologies in thermal observation device (TOD), integration and management from 2018 Total Sales surveillance. We’re heavily investing in R&D business intelligence, is at the core of what defense ICT defense electronics and information electro-optic tracking system (EOTS), having developed world-class IT solutions In USD millions to innovate and meet the ever-changing Hanwha Techwin is doing to ensure ICT: Integrated IT business services infrastructure. In August 2018, infrared detection tracking equipment and services over the years for a variety market needs. In so doing, we’ve been our portfolio of security solutions will we launched our new ICT division after and multifunctional observation scopes. of industries, including manufacturing, gaining recognition as a global top-tier catapult us to the forefront of the Fourth merging with Hanwha S&C. Our ICT Hanwha Systems is using cutting- defense, construction, financial services, company. By applying our experience and Industrial Revolution. We are becoming 2018 Total Sales division represents our advanced defense edge technology to make significant retail, service, and education. We’re 467 subject matter expertise to our product a global security solutions provider with In USD millions IT and system integration capabilities improvements to its radars like the L-sam now building customized systems with development, we’ve been able to create industry-leading cybersecurity technology that make us more market competitive. multi-function radar and M-sam multi- expertise that differentiates us and makes 2018 Total Assets a complete line of security solutions, from that offers customers the highest level of Our IT & system integration capabilities function radar. At the same time, we’re us more competitive in these industries. In USD millions cameras and recorders to integrated confidence and satisfaction. 1,026 combined with our product portfolio developing new radars to our portfolio management software. Our products differentiate us, position us to lead in like the FFX Batch-ΙΙΙ multi-function radar. Our ICT division operates a Cloud- are designed to meet every application, defense electronics, and allow us to based Big Data center that provides including urban surveillance, retail, 2018 Total Assets Hanwha Systems 455 naturally expand into areas of public ’ C4I businesses rely data analysis. And combined with our transportation, and banking. In USD millions infrastructure and private security. completely on our original technologies smart factories powered by IoT and Big to develop products that can operate in Data technologies, we’re developing Hanwha Techwin total sales and We manufacture over 2.7 million video Since its founding in 1978, future combat environments. We produce capabilities to improve productivity, total assets are based on consolidated surveillance devices in South Korea, China, 1,701 the Hanwha Systems system division next-generation tactical information predictability, quality, and processes for financial statements. and Vietnam. We maintain the largest share has significantly advanced the defense communication networks (TICN) using our companies and our clients. We’re of the South Korean video surveillance capabilities of South Korea’s military. these technologies and next-generation even helping our nation as a whole – market. However, 75 percent of our total The knowledge we’ve gained from satellite communications systems. We keeping cities safe with our integrated sales comes from our overseas markets. working with the South Korean military are South Korean Navy’s sole supplier for security and control platforms designed and the 40+ years developing systems their naval combat management system. for the public infrastructure. used globally are being used to develop Our proprietary technology is at the advanced systems for surveillance, heart of their enhanced combat systems We’re on a path to an unprecedented reconnaissance, control, communication, and integrated solutions for sensors and transformation, seeking both computer, and intelligence (C4I), naval armament. possibilities and opportunities with and land. digital innovations and in disruptive Our strategy is to lead the future defense technologies that combine AI, IoT, and Big We are using our state-of-the-art industry by improving our technical Data. We’re building internal blockchain aerospace technology to develop South capabilities and building strong platforms and forging technology Korea's first synthetic aperture radar (SAR) relationships with key partners who are partnerships with leading companies like Hanwha Techwin’s flagship Wisenet brand for military reconnaissance satellites and leading in the Internet of Things (IoT) and Element AI in anticipation of the Fourth represents our technological excellence in video surveillance systems. an active electronically scanned array Artificial Intelligence (AI). Industrial Revolution. Hanwha Techwin offers a wide range of products from economically affordable to premium grade solutions that can be customized.
(left) Hanwha Systems R&D Center develops cutting-edge technologies to build world-class radars, electro-optics, missile seekers, and tactical communication systems.
(right) The Hanwha Data Center embodies a state-of-the-art integration infrastructure that enables our clients to derive better solutions value for their customers.
80 81 Hanwha Precision Hanwha Precision Machinery boasts world-class productivity and is production lines – they’ve allowed us to Hanwha Power Hanwha Power Systems is the advantage. In 2014, we won the contract To this end, we’re working to strengthen is a Smart Factory total solutions recognized by global customers for its capture the largest market share in CNC global energy equipment company in to supply the world's first marine Vapor our product portfolio in the compressor Machinery company driving the development modular head and various production automatic lathes in South Korea. Systems South Korea with independent design, Recovery Unit (VRU) steam recovery business and expand into turbine-related www.hanwhaprecisionmachinery.com of the next-generation products in modes. www.hanwhapowersystems.com production, and testing capabilities. The turbo compressor. In 2017, we also won businesses that can support petroleum the manufacturing industry. We are Leveraging our unmanned automation quality and the advanced technology of the contract to provide compressors for gas and power generation customers. EXPERTISE leveraging our subject-matter expertise Hanwha Precision Machinery’s technology and experience, we launched EXPERTISE our products have earned trust among Floating Storage Regasification Units In strategic cooperation with Baker built over the years and continuously T-Solution is a comprehensive SMT South Korea's first collaborative robot our customers around the world. (FSRU) and LNG carriers that gave us Hughes, a GE company (BHGE), we’re Chip mounters, screen printers, innovating to provide a comprehensive production line solution designed for in April 2017. Robots that can perform Industrial air and gas compressor, the opportunity to demonstrate our selling BHGE’s package products, machine tools, collaborative robots portfolio of products to deliver Smart Factories. It connects all assets in basic tasks and supplementary work gas turbines, power generation systems Hanwha Power Systems launched outstanding technology. including gas turbines, steam turbines, meaningful customer value. a production line and utilizes Big Data enable us to maximize efficiencies in in 1997 on the strengths of reliable and reciprocating and barrel compressors. 2018 Total Sales analysis to provide seamless operations, many industries, including automotive, 2018 Total Sales technology and deep experience in Hanwha Power Systems is building In 2019, we signed an official service In USD millions After developing the first chip mounter in better quality control, and the ability to electronics, food, and medicine. In USD millions gas turbine engines. Since then, we’ve long-term partnerships by rapidly center contract with BHGE to service the 1989, Hanwha Precision Machinery operate remotely. T-Solution, recently become a global powerhouse and have expanding its sales, customer service, South Korean market on a wide range has become a leading worldwide Smart launched, embodies the principles of Our solutions that include the SMT delivered more than 5,500 units of air and R&D networks globally. We currently of products, including gas turbines and Factory solutions provider, offering Industry 4.0 in terms of interoperability, mounters, machine tools, and and gas compressors worldwide. Using have eight international sales offices that steam turbines. 234 Surface Mount Technology (SMT) connectivity, and autonomy. It yields collaborative robots, are just some of our 155 advanced technology, we developed provide sales and customer service, mounters, semiconductor equipment, higher production efficiencies, greater products that represent our commitment high-value-added product lines. in addition to production facilities in We are currently working to fulfill our 2018 Total Assets insertion and assembly automation installation accuracies, zero defects, to innovation and our ability to overcome 2018 Total Assets Our product lines include industrial Korea and China. Our US Houston R&D contract with the US Department of In USD millions equipment, machine tools, collaborative and lower maintenance costs. the toughest of challenges. We do this to In USD millions air compressors, fuel gas compressors center alone is creating partnerships on Energy (DOE) to develop sCO2 engines. robots, industrial automation equipment, develop customer-oriented solutions that for power plants, and boil-off gas a global scale, like with Southwest This project is expected to help us and integrated software solutions. We’ve been in the machinery business deliver greater efficiency, versatility, and compressors for LNG terminals and Research Institute (SwRI) to build sCO2 become a game changer by creating for over 50 years and, in that time, value. We do this because ultimately, as plants. engines. At the same time, we are new markets in the distributed power 217 After launching in 2013, our flagship continuously built up our expertise and partners, when our customers succeed, 198 focusing on building closer relationships generation, effectively supplanting the DECAN series has continuously evolved. improved our technology. Our success we succeed. We are the only energy equipment with key customers in the oil & gas steam turbine market. Along with our It is now a high-speed mounter that can be seen in our machine tools company in South Korea capable of industry. We obtained vendor approval turbo expander generator (TEG), currently is arguably the world’s only modular business that commands a technical independently designing, producing, for API617 and API672 from Saudi Aramco being developed as a power generation conveyor system whose key components advantage in the market by producing and testing large-capacity high-pressure in 2016 and have been working on system using waste heat, we expect can be replaced. The SM Series is our South Korea’s first multitasking automatic gas compressors. In addition to high- securing vendor approvals from other our partnership efforts and increasing bestselling product line with best-in-class lathes and turret-type lathes. efficiency compressors, we provide major clients in the Middle East and Asia. developments to propel us to leadership performance. In addition, our newly Our machine tools are custom built to expanders with short lead times and in the eco-friendly power generation developed high-speed mounter HM520 meet customer feature requirements and in-house developed core components Our next goal is to become a global top- solutions market. that give our customers a competitive tier power and energy solutions supplier.
Hanwha Precision Machinery's In the petrochemical process, our compander high-speed chip mounter HM520 boasts is a state-of-the-art turbomachine that best-in-class real productivity and is optimized features the capabilities of both a compressor for high-quality production. We consistently and an expander that doesn’t use redundant exceed customer expectations components, such as a base frame, gearbox, with our state-of-the-art high-speed or an oil system. Hanwha Power System’s modular system – part of our Smart Factory compander represents the company‘s leading solutions with unmanned, continuous, expertise in turbo compressor and turbo and zero-defect production. expander technology.
82 83 Hanwha Hanwha Solutions was formed We obtained the New Technology Chemical Division was the first South Q CELLS Division is a total energy Q.ANTUM module, Q.PLUS, won the By employing our cutting-edge in 2020 by the merger of Hanwha Certification from the Korean Agency Korean petrochemical company to tap solution provider worldwide. Module Manufacturing Innovation award technology and economies of scale, Solutions Chemical, Hanwha Q CELLS and for Technology and Standards and, into new business opportunities in the Our business scope ranges from at Solar Industry Awards 2015 in Hamburg, Q CELLS Division has been able to take www.hanwhasolutions.com Hanwha Advanced Materials. in 2017, we built a production line that Middle East. We signed joint venture the midstream of cells and modules to Germany. For two consecutive years, advantage of the growing demand for We aim to create new synergies and could produce up to 30,000 tons of CPVC contracts with International Polymers downstream solar solutions for residential, Q CELLS Division has won the Intersolar solar power around the world. EXPERTISE sustainable growth by resolving annually. We also expanded our specialty Company, a private petrochemical commercial, and industrial buildings, Award in the Photovoltaics from Intersolar, We have been able to offer higher quality environmental and climate issues product lineups. In 2019, we entered company in Saudi Arabia, and Gulf as well as for large solar power plants. the most prestigious solar energy products at competitive prices. In 2014, Chemical: PE, PVC, CA, polysilicon, TDI faced by customers and society. We the high-quality adhesives market by Advanced Cable Insulation Company conference and exhibition in Europe. we entered the rooftop solar power Q CELLS: Solar cells & modules, system are headquartered in Seoul, South building a plant dedicated to producing in 2009. In 2015, we achieved cost Since our entry into the solar energy In June 2018, our Q.PEAK DUO-G5 solar equipment market in Japan and Europe solution, downstream, energy retail Korea, and have more than 70 locations up to 50,000 tons of dicyclopentadiene reductions and economies of scale as our business in 2010, the Hanwha Group module also won in the Photovoltaics and large-scale power plant markets in the Advanced Materials: Automotive worldwide. We are committed to (DCPD) hydrogenated petroleum resins joint venture with International Polymers has transformed Q CELLS Division into the category, earning high praise for its 120 US, Thailand, Chile, and Latin America. materials, electronics materials, solar enriching the future and building annually and beginning commercial began to produce EVA and LDPE. With world’s leading producer of solar cells and half-cell, six-bus bar monocrystalline In the same year, we secured a series of materials sustainable growth. production. We partnered with the Gulf Advanced Cable Insulation, we are modules. Our current production networks module that the Intersolar jury panel large solar projects across Europe – in the Institute of Chemical Process at Seoul producing wire and cable compounds. span across China, Malaysia, South Korea, called “the new standard for residential and UK, France, and other countries. In 2015, 2018 Total Sales Established in 1965, Chemical Division National University and the Korea In 2016, we strategically acquired a and the US. Bolstered by strong revenue commercial rooftops.” we partnered with US-based NextEra In USD millions is a total solutions chemical company Advanced Institute of Science and company to maximize the synergy and driven to stay ahead of the growing Energy to provide 1.5GW of modules, Hanwha Chemical with streamlined production systems Technology (KAIST) to establish joint in production processing of CA and worldwide demand, we’ve continued Q CELLS Division was selected as one accelerating our entry into one of the for polyethylene (PE), polyvinyl chloride research centers. It was a significant vinyl chloride monomer (VCM) while to invest in R&D and manufacturing of the best PV manufacturers by local world’s largest solar markets. We also (PVC), and chlor-alkali (CA). And as South step forward to enhance quality and enhancing our production efficiencies innovations. Our Malaysia plant alone installers, winning the Top Brand PV captured the biggest market shares Korea’s leading petrochemical company, accelerate the pace of innovation. with toluene diisocyanate (TDI), a raw was able to produce more than 1GW of Seal 2020 from EuPD Research for the across Germany, the UK, South Korea, 3,634 we dominate the nation’s chemical material for polyurethane products. Q.ANTUM cells annually in 2015, the first seventh time in a row in Europe and for and Japan. industry with high-quality PVC, CA, and We continue to improve production of its kind in the industry. In Q1 2019, we the fifth time in Australia. Our technology Hanwha Q CELLS linear low-density polyethylene (LLDPE) efficiency and cost competitiveness In our upstream solar businesses, penetrated the US market and began our infrastructure enables differentiated Based on its strategies and policies that we offer at competitive prices. while meeting the growing demand for we’re continuing our investments in acceleration to expand into the country by technology innovations. optimized to global energy market, our products around the world. Our PVC infrastructure and working to become building a 1.7GW capacity module plant in Our R&D headquarter is located in Q CELLS Division is securing its global 2,964 In 2012, we successfully commercialized plant, completed in 2011 in Ningbo city a global leader. One of our facilities the US state of Georgia. Thalheim, Germany and our R&D network leadership in the solar industry through high-density ethylene vinyl acetate (EVA) located in China’s Zhejiang province, alone can annually produce up to 15,000 covers China, Malaysia, and South Korea. long-term growth and expertise. Hanwha Advanced Materials for the first time in South Korea. Just four was built to produce up to 300,000 tons tons of polysilicon. Our facilities employ Our Q.ANTUM technology is based on Our R&D centers all receive Hanwha’s years later, we localized the production of PVC annually. Today, with continuous advanced technologies that produce PERC cell technology, providing mono- continuous support and investments to of chlorinated polyvinyl chloride (CPVC), improvements in the production process, environmentally friendly products, crystalline efficiency for multicrystalline develop solar technology, including Anti- enhancing the quality of our PVC. the plant is producing 350,000 tons of such as ECO-DEHCH, an eco-friendly module cells. The multicrystalline LID, Anti-LeTID, Tra.Q, and more. 1,261 PVC each year. In Bang Phli, Thailand, premium plasticizer. They represent our we built an alkali soluble resin plant with commitment to a better environment 2018 Total Assets an annual capacity of 17,000 tons. This for a better tomorrow. In USD millions facility serves as an important base of Hanwha Chemical operations as we enter other markets in Southeast Asia.
6,995 The outstanding quality control capabilities of Anti-LID, Anti-LeTID, and Tra.Q demonstrate Hanwha Q CELLS how Q CELLS Division's global R&D can successfully leverage a variety of solar 3,887 technologies. Hanwha Advanced Materials 2,039
Sales and total assets are based on each company’s financial statements before the merger of Hanwha Chemical, Hanwha Q CELLS and Hanwha Advanced Materials.
Chemical Division Ningbo PVC plant in Zhejiang, China, was completed in 2011, enabling us to target China’s PVC market with outstanding quality and value.
84 85 Founded in 1965, Advanced Materials and in Mexico, where the largest number We offer products built with in-house Hanwha Hanwha General Chemical was the And since joining the Hanwha Division has developed an innovative line of cars are produced for North America. technologies we’ve been refining for sheet first company in South Korea to localize Group, we have become more globally of environmentally-conscious products By relying on our ten production sites manufacturing for the last 30 years. General Chemical production of purified terephthalic competitive by creating synergies with and technologies that meet the needs around the world, we can anticipate the In 2010, we succeeded in developing and hgc.hanwha.com acid (PTA). We’re maintaining our No. 1 chemical affiliates and diversifying our of our customers around the world. We needs of global automakers for parts mass-producing EVA sheets and back domestic market share while exporting markets through innovative management have also developed local production standardization and global sourcing. sheets used in photovoltaic modules. EXPERTISE our process technology to enter into and sales practices. plants and R&D centers in South Korea, the We operate a plant for 8GW EVA sheets new businesses. PTA, PV Business US, Europe, and China. Our global sales Currently, we’re tracking a global move and 2.5GW back sheets in Korea and we’re In June 2017, we established Hanwha continue to rise. toward lightweight automotive parts. expanding the business to Europe, the US, Hanwha General Chemical was Solar Power to serve as a growth We anticipated this and it’s why we and Southeast Asia. 2018 Total Sales established in 1974 before being engine for our PV business and to Since entering the automotive materials strengthened our investments in R&D In USD millions acquired by the Hanwha Group in advance our mid- to long-term growth business in 1986, we have launched years ago so that we could lead in the We are especially competitive in the 2015. It was the first company in South beyond our single PTA business. Today, a diverse portfolio of products for changing industry. Our R&D Center makes high-functional film market. Currently, we Korea to localize production of purified Hanwha Solar Power is working automobile structures and interiors. our research and development more produce components for Flexible Printed terephthalic acid (PTA), a primary hard to promote and invest in solar We now leverage original technologies globally competitive and helps us lead Circuit Boards (FPCB), such as Coverlay film 1,727 component in many types of polyester. energy business both domestically and to build high-strength, super-lightweight the worldwide trends toward lighter parts. (insulation film), 3 layer Flexible Copper PTA is used in clothing, industrial fibers, internationally. At the same time, to be materials and parts. Among the materials Our research focuses on thermoplastic, Clad Laminate (FCCL), and bonding 2018 Total Assets film, and paint. The applications for PTA more globally competitive, we’re working we produce are: StrongLite – Glass fiber thermosetting composite materials, sheet (adhesive sheet). We are expanding In USD millions are expanding dramatically. to improve our PTA-related technologies Mat-reinforced Thermoplastic (GMT) and on designing and developing new sales and responding to the 5G market and develop related businesses in the and SuperLite – Light-Weight Reinforced applications. We also develop new by successfully developing ion resistant Today, our annual PTA production of value chain we have built over the last Thermoplastic (LWRT). They’ve captured materials and manufacturing methods, materials for microcircuit patterns, such as two million tons, makes us No. 1 in both 40 years. the highest market shares globally, offering improved functionality and low dielectric materials and OLED displays. 3,133 production capacity and market share in their respective categories. innovative hybrids that enable the latest Most recently we have been developing in South Korea. Our experience and technologies in the market. new products to enter the markets for technology are recognized worldwide. We are a major supplier to global Keeping pace with the rapidly expanding automotive electronics and electronic We have leveraged many years of our automakers, including Hyundai, Kia, electric vehicle market, we are exploring battery sensors for electric vehicles. expertise and applied our PTA processing BMW, Daimler, Volkswagen, GM, Ford, sales opportunities for battery housing in technology – technology that we’ve and Toyota. As a global supplier, we have electric vehicles. We are also developing proven since 2010 in the Middle East. manufacturing factories in Alabama future mobility markets, such as eco- and Virginia in the United States; Beijing, friendly automotive, personal air vehicles Shanghai, and Chongqing in China; the (PAVs), and aerospace. Czech Republic and Germany in Europe;
Advanced Materials Division maintains the PTA is the primary raw material for polyester world’s largest market share for StrongLite and is widely used in PET resin, bottles, films, (GMT) and SuperLite (LWRT) – materials paint, and industrial materials. proven to reduce the weight of automobiles. We are now expanding our operations and production facilities globally to keep up with the rapidly growing market for lightweight composite materials for auto parts.
86 87 Hanwha Hanwha Petrochemical was propylene, and butadiene. Hanwha by building an additional aromatics plant, produces high-purity Although our production facilities are incorporated into Hanwha Group Petrochemical also produces a condensate fractionation unit, and petrochemical base materials. We are already technologically advanced with in 2015. Since then we have not only base chemicals like styrene monomer, an ethylene-vinyl acetate (EVA) plant. enhancing customer value with our large-scale production capacities, we’re Petrochemical generated stable business results but paraxylene, and ethylene glycol. With 18 With the additional production facilities, www.yncc.co.kr advanced production facilities, cutting- continuing to make improvements. We www.hanwha-total.com also earned the rank of South Korea’s plant units in the Daesan Petrochemical we now produce 1.40 million tons of edge technology, and domain expertise. attribute our improvements and growth World Class Products 4 years in a row. Complex, the company is able to produce ethylene, 2 million tons of paraxylene, EXPERTISE each year to loyal customers, the use of a We continue to strengthen our market a wide range of products from those and 1.06 million tons of styrene monomer operates the world’s sophisticated management system, and EXPERTISE dominance because of our quality and needed for energy, such as gasoline, annually. Petrochemical leading naphtha-cracking facility in the sound financial structure. Additionally, our Ethylene, propylene, innovations. diesel, jet fuel, and liquefied petroleum feedstock production Yeosu National Industrial Complex. The professional and highly skilled employees BD, EG, SM, PX, PE, EVA, PP, gasoline, gas, to polymers that are used in feedstock We have the No. 1 market shares in the facility was built in 1999 and is located on effectively combine industry expertise diesel, jet fuel, LPG, solvent Since its founding in 1988, Hanwha materials, such as polyethylene and EVA used in solar cells, HDPE used in bottle 2018 Total Sales the southern tip of the Korean Peninsula. with cutting-edge technology, truly Petrochemical has led the propylene. caps, the EVA used in extrusion coating, In USD millions represents a fifty-fifty joint making our workforce a key differentiator. growth of the petrochemical business flow mark free polypropylene (FMF PP) venture between Hanwha and Daelim, 2018 Total Sales In USD millions in South Korea through technological We are the only company in South Korea used in automotive composite materials, two South Korean conglomerates that Supported by steady flow of investments, innovations and by executing its market that operates a naphtha-cracking center and high isotactic polypropylene (HIPP) own naphtha-cracking facilities. The product specialization, facility expansion, expansion strategy successfully. In 2003, (a core facility in our petrochemical plant), used in electronic applications. These 5,321 facility annually produces 1.95 million and business focus, we’re one of the Hanwha Petrochemical set a condensate fractionation unit (a refining products have been recognized as World tons of ethylene, 1.11 million tons of top Naphtha Cracking Center (NCC) 10,188 out to build a foundation to become a facility), and an aromatics plant, all in one Class Products by MOTIE. We attribute our 2018 Total Assets propylene, and 5.50 million tons of various companies in the world backed by global chemical and energy company. single complex. This complex represents success not only to the vertical system we In USD millions petrochemical base materials, including a steady stream of investments and 2018 Total Assets The company executed this plan by a successfully organized vertical system – employ and our product diversifications benzene, toluene, xylene, styrene continuing to expand our footprint. In USD millions forming a joint venture with the Total from sourcing to producing to distributing but also to the vast and global network of monomer, and butadiene. We are, however, focused and as Group, a major French company in the the final products. The efficiency we’ve the Hanwha Group. we continue efforts to improve our energy and chemical industry. Since then achieved with this system allows us to 1,874 With fully automated and optimized capabilities, our expansion will take us and after becoming a Hanwha affiliate, diversify our business portfolio and pursue processes producing high-purity across the globe. 6,115 Hanwha Petrochemical has stable growth. In 2010, after registering feedstocks, this state-of-the-art facility exhibited solid financial performances. our refining business with the South gives Hanwha affiliates a competitive Korean Ministry of Trade, Industry & Energy edge to produce high-quality downstream The product portfolio of Hanwha (MOTIE), we began as a full-fledged energy petrochemical products. Petrochemical includes business. In 2014, we made the biggest basic chemicals, such as ethylene, investment since establishing the business
Hanwha Petrochemical is the As a leader in naphtha-cracking production, leading producer of EVA, used in solar cells, our plant produces ethylene, and the global leader in terms of propylene, and other petrochemical market share. feedstocks. This state-of-the-art facility gives our Hanwha affiliates a competitive edge in petrochemicals.
88 89 Hanwha Hanwha Energy specializes in To build sustainable growth, we are help to ensure stable profits for our Hanwha Hanwha Engineering & Bismayah city will be the world's largest We also developed the nation’s first comprehensive energy solutions that diversifying our energy business and customer’s assets through improved Construction is recognized for its urban construction that includes advanced membrane filtration water Energy produce high-quality electricity and building businesses overseas in solar performance, maximum productivity, Engineering & ability to successfully complete large- infrastructure facilities to support 100,000 treatment technology and sewage water hec.hanwha.co.kr steam. Advanced technology is at the power generation, O&M business, system and efficiency. As a result, our O&M Construction scale and complex projects in the global households and 300 schools. treatment technology. By leveraging core of who we are and the means by solutions, and more. In Japan, we’ve business has grown to become the No. 1 market, such as building an entire The Bismayah New City is the first overseas future technology into what we build www.hwenc.com city; constructing chemical plants in EXPERTISE which we are able to develop forward- begun operating several solar power renewable O&M provider in South Korea project of its kind by a South Korean that is also eco-friendly, we are raising the looking energy solutions for distributed plants with a combined capacity of and is now one of the main pillars of our the Middle East and North Africa; and company and is expected to be lauded bar for value that can be derived from Group energy, energy sources. 105MW. One of the plants is a 24.5MW renewable energy business. EXPERTISE completing various real estate projects in for its sheer development scale and global construction projects. solar energy, O&M, solar power plant located in Ōita and General construction, the Americas. design of an entirely new city. system solution Established in 2007, Hanwha Energy another is a 31.5MW solar power plant in In addition, we are expanding our energy residential complexes, is a comprehensive energy solutions Kyushu, one of largest of its kind in Japan. system solutions with our smart energy urban development, industrial plants, Hanwha Engineering & In 2014, we demonstrated our 2018 Total Sales company. We operate cogeneration We also operate a 31.7MW solar power business model. In December 2017, civil engineering, water treatment. Construction has quickly become technological prowess by successfully In USD millions plants that provide a stable supply of plant among others in Turkey. In India, we built a 19MWh solar energy a global player by leveraging its extensive building the world’s largest domed arena high-quality electricity and ultra-high- we run a 50MW plant. The solar power connected Energy Storage System (ESS) experience in construction projects in the Philippines, a bridgehead for our 2018 Total Sales pressure steam to companies in national plants currently under construction in Saemangeum, South Korea. and by applying its new technologies Southeast Asian market entry. We are also In USD millions industrial complexes in South Korea. in Japan are approximately 95MW. Plans We are using ESS to take advantage of and subject matter expertise across building power and petrochemical plants 871 By providing readily available power, to expand further are already underway. the discount on the retail electricity rate industrial, chemical, and power plants, civil in the Middle East and North Africa, and our plants improve the competitive In the US, we signed more than 1GW and achieve peak savings at factories engineering works, commercial buildings, developing large real estate projects in 2018 Total Assets advantage of our off-takers. Our energy PPAs through our local subsidiary across and buildings in South Korea. Going 3,442 and more. We’ve been recognized as a top North America. In USD millions solutions consistently comply with several locations, including Texas and forward, we plan to implement our global contractor in Engineering News South Korean government requirements Nevada. Commercial operations are energy solutions for distributed energy Record and our works are often used and In South Korea, Hanwha Engineering 2018 Total Assets for energy efficiency and greenhouse expected to begin soon. sources, such as ESS and microgrids in referred to as the “bible of the construction & Construction has been responsible In USD millions gas emissions reduction. Our relentless other countries, including Japan, the US, industry.” for the nation’s largest urban development 3,002 pursuit to improve our technology gives To efficiently operate and systematically and in Europe. projects that have included the us the means to continuously improve maintain renewable assets, we’ve The Bismayah New City is a USD construction of homes for more than our existing solutions and at the same established an O&M business that 5,140 10.1 billion project, the largest urban 70,000 households at 95 sites. We led time, seek new ones. uses our Hanwha Energy Integrated development in Iraq’s modern history. the industry by pioneering advances in System (HEIS) as its base. Our O&M services It is also Hanwha Engineering & large-scale site construction, including Construction’s flagship project. Daedeok Techno Valley, South Korea’s first development project and effort to build an entire city.
This state-of-the-art cogeneration plant Hanwha Engineering & Construction’s provides a stable supply of high-quality business reputation is recognized globally. Our electricity and ultra-high-pressure steam to reputation for reliability and dependability has companies in the Yeosu and Gunsan national allowed us to secure a series of contracts to industrial complexes in Korea. build large-scale petrochemical plants in the Middle East and North Africa.
90 91 Hanwha City Hanwha City Development and the Gyeonggi Hwaseong Bio Valley We’re also building for the future of our exemplifies the kind of business that project (1,745,000m2, 200 enterprises). local economies. The Siheung Recycling Development is needed in the Fourth Industrial Each completed project stood out as Industrial Complex will help revitalize the www.hcd21.co.kr Revolution — it is able to use its an achievement and garnered high praise. local economy by improving industrial experience and know-how to develop The projects are considered exemplary environments, attracting businesses, and high-tech complexes and at the same EXPERTISE development models and not surprisingly, creating local jobs. time, operate in a way to generates the they have been benchmarked by several Real estate development, including trust and loyalty of its local communities. local governments. multifunctional industrial complexes Hanwha City Development has Encouraged by these achievements, 2018 Total Sales been recognized as the leading private we’ve made further investments for the In USD millions developer of high-tech industrial future, breaking ground on the Yongin complexes since it was established Techno Valley project in 2015. There is in 2001. Starting with success in Daedeok high anticipation Yongin Techno Valley Techno Valley, additional projects followed, will be an industrial complex that will be 147 such as the Asan Techno Valley project home to many R&D centers, companies (2,984,000m2, 300 enterprises, and startups in IT, fusion technology, 2018 Total Assets 8,000 households), the Seosan Techno and in other areas of technology. When In USD millions Valley project (1,994,000m2, completed in 2020, the industrial complex 200 enterprises, 6,000 households), is expected to play an important role as the Gimhae Techno Valley project the center of the industrial belt, south of (1,643,000m2, 200 enterprises), Seoul. 288 Finance
Hanwha Life Hanwha General Insurance Hanwha Investment & Securities Hanwha Asset Management Hanwha Savings Bank
Daedeok Techno Valley is the technology hub of South Korea and home of the most technologically advanced companies and research facilities. Daedeok Techno Valley is considered an exemplary model of how a high-tech industrial complex should be built and is credited with revitalizing the local economy.
92 93 Hanwha Hanwha Life outperforms in asset We also innovate by aligning our offerings to sharpen our competitiveness in the market by Hanwha General Hanwha General Insurance is we were the first South Korean insurer to As a result, in 2018 we were favorably quality stability, sales, and product customer life stages. Using Big Data to analyze using multi-channels to provide differentiated a major insurer with USD 14 billion introduce an electronic signature system, scored by global credit rating agencies for Life development. And we’re moving forward, customer needs, behavior, and interests, we products and services and by enhancing Insurance in total assets. We are internationally making it easier for customers to complete our financial stability and growth potential. www.hanwhalife.com digitizing our advanced capabilities so we systematically apply this knowledge to better communications across headquarters, sales www.hwgeneralins.com recognized for our financial stability and transactions from their mobile devices. S&P gave us a rating of A, while Moody’s can lead in the financial markets of the satisfy customers. To this end, we’ve trained reps, and customers. However, in anticipation steady growth using diversified asset We have even introduced a mobile and Fitch gave us an A2 and A respectively. future worldwide. our customer service professionals at call of changes to the market, we’re upgrading management strategies and increasing application called Smart Insu, catering to More recently, in August 2018, A.M. Best, EXPERTISE EXPERTISE centers to deliver improved care. our digital capabilities, product development, customer value. the ways and needs of our customer. More the international insurance industry rating Life insurance, mortgage and personal Established in 1946, Hanwha Life is not digital technology, and our governance- Long-term insurance, than 100,000 customers have installed organization, upgraded our rating from A- loans, trust, fund, retirement pension only a leading life insurance company but also Our efforts have been rewarded with the oriented data support. automobile insurance, Established in 1946, Hanwha General the app. to A because of our financial strength and it is the first and oldest in South Korea. Early Grand Prize – the Korea Service Award from general insurance, mortgages, Insurance is the first South Korean potential growth. 2018 Total Sales on, we played a critical role in developing the the Korea Standards Association in the In the international market, we lead the personal loans insurance company funded solely by Our efforts to improve customer In USD millions industry and the country’s economic growth. life insurance sector for eight consecutive industry. Our Vietnam subsidiary was founded domestic capital. Throughout history, service have been recognized by South In 2018, while expanding, we made sure to years through 2017. We were also inducted in 2008, the first of its kind by a South Korea 2018 Total Sales we’ve played a pivotal role in developing Korean government organizations with remain structurally sound, reporting total into the Hall of Fame. The Quality Index company. With an effective localization In USD millions South Korea’s general insurance industry. their top three service quality awards: assets of USD 102 billion. At the end of 2018, survey, managed by Korea Management strategy and a strong nationwide sales Today, we’re a major insurer with total CCM certificate, Call Center Service KS 13,864 we achieved a 212.2 percent risk-based capital Asset Consulting, gave us top ranking for network, we turned a profit in 2016, a first assets of nearly USD 14 billion. We use Certificate, and the Certificate of Excellent (RBC) ratio, demonstrating the soundness nine straight years for customer service for a South Korean insurer in Vietnam. Our advanced services to enhance customer Service Quality. 2018 Total Assets of our asset quality. Our strong ratings from and eight years for our call centers. Since Chinese subsidiary, Sino-Korea Life Insurance, 6,746 value and offer a comprehensive product In USD millions domestic and international agencies attest our first certification in 2007, the Korea Fair is expanding its sales territory by entering portfolio ranging from long-term Our company is on an upward trajectory to our creditworthiness. We have received Trade Commission has awarded Hanwha new markets. In Indonesia, our subsidiary is 2018 Total Assets insurance to auto and general insurance. to build a risk-based management sterling AAA credit ratings from South Korea’s Life with six consecutive Certifications building a balanced profit structure with a In USD millions structure, improve long-term insurance top rating agencies for the past twelve years. for Excellence in Consumer-Centered long-term perspective. Moving forward, we We created a Consumer Protection charter, loss ratio, advance the compensation 102,229 We also earned global credit ratings of A1 Management (CCM). are setting the foundation to provide digital improved service quality, and minimized process, and increase high yield, higher- from Moody's and A+ from Pitch credit rating financial services in major Asian hubs while customer inconvenience to provide an value-added contracts. We are posting agencies in 2018. To increase sales and profitability, we are we pursue non-insurance products and digital 14,514 overall superior customer experience. healthy financial growth by seeking focusing on value-based sales, improving financial businesses in Southeast Asia. We also expanded the scope of what our diverse, stable bonds and alternative Hanwha Life is committed to adding product features, and expanding protection- call center agents could do to ensure investments at home and abroad. innovative products and services that meet a type and variable insurance sales. We are In 2019, Hanwha Life continues to secure a one-call, one-stop system. In addition, wide range of customer needs. By upgrading also diversifying our investment assets and profitable structures that support value-based *LIFEPLUS: is the official co-brand name sales and primary profit expansion. We plan representing a group of Hanwha financial our customer, product, and channel (CPC) applying risk management to aggressively affiliates. It offers financial, health, and cultural strategy, we provide customized products and and preemptively respond to changes in to expand our global business and secure content as well as products and services services that solidify our LIFEPLUS brand. the financial market. In 2019, we continue to growth engines in Fintech and Big Data. We optimized for a variety of lifestyles to help push for innovation and, with each success, customers make better financial decisions that we’re inspired to drive forward as a world-class lead to better life and experiences. life insurance company.
Hanwha Life, which leads the life insurance Hanwha General Insurance has industry in South Korea, launched Onsure, implemented a set of customer-centered the first online life insurance sales channel business processes and has organized its in South Korea. Onsure serves as yet another management to deliver customer-value- channel through which we will expand our life oriented solutions. Our solid financial structure insurance business. allows us to invest in research to develop the products and services with the customer’s best interests in mind.
94 95 Hanwha Hanwha Investment & Securities We have established a stable and global operations and at the same time Hanwha Asset Hanwha Asset Management is one to the needs of our customers because Hanwha Asset Management is a trusted financial investment partner diversified income structure with our secure a new growth engine, we acquired of the top three asset management we strictly adhere to our principle and is accelerating its strategic overseas Investment & dedicated to providing sources for stable business portfolios in investment banking, HFT Securities, Vietnam's online stock Management companies in South Korea. With our management philosophy to place our expansion to become a leading asset Securities and diversified income even amidst a trading, wealth management, and brokerage company. The acquisition of HFT www.hanwhafund.com comprehensive operation systems, customers first before anything else. management company in Asia. rapidly changing financial environment in institutional investors. To be able to readily Securities is Hanwha Investment & innovative solutions, and customer- Our Singapore subsidiary manages equity www.hanwhawm.com an era of digital transformation. respond to the rapidly changing digital Securities’ first step to enter Vietnam’s focused management philosophy, Hanwha’s expertise and industry-leading and alternative investments in the pan- EXPERTISE financial environment, we developed potentially high-growth market and we’re rapidly becoming an investment innovations have been recognized with Asian market. We acquired a New York- EXPERTISE Established in 1962, Hanwha Investment unique ways to ensure simpler and more establish a digital financial platform to offer Asset management company of choice in Asia. numerous industry awards in South based subsidiary to handle our assets Securities brokerage and underwriting, & Securities provides comprehensive convenient investment experiences for competitive products and services. Korea, including the Best Fund Seller in the US and other countries. We have asset management asset management services, including our clients. Our easy-to-use application 2018 Total Sales Founded in 1988, Hanwha Asset Award in ETF at the 2019 Maekyung also established a Chinese subsidiary brokerage and acquisition of stocks, STEPS displays essential information that is Our business motto is “To grow together” In USD millions Management has grown into Securities Awards by Maeil Business as a wholly foreign-owned enterprise bonds, and derivatives, as well as sales and beneficial to starting and experienced or with our clients, shareholders, and a comprehensive asset management News Korea; the Top Prize in international (WFOE) so we could better execute our 2018 Total Sales asset management services for various inexperienced investors. We have improved employees with sustainable products that company offering a full range of financial bonds at the 2019 Korea Fund Awards global strategy and expand our business In USD millions financial products. With our differentiated even the intuitive features of our mobile yield stable profitability. As a trusted and instruments, including stocks, bonds, by KG Zeroin; the Grand Prize in global footprint overseas. systems and high-quality talent, we have trading system and continue to upgrade financially stable company with expertise in 92 MMFs, fund of funds, social overhead funds at the 2017 Korea Fund Awards successfully established ourselves as a others based on customer feedback. a range of industries, we are confident we capital, derivatives, real estate, ETFs, and by Money Today news media; the Grand 1,704 reliable asset management partner. Our can build a better future for our customers. 2018 Total Assets PEFs in both domestic and overseas Prize in global funds at the 2017 Herald financial products and customer-oriented Hanwha Investment & Securities In USD millions capital markets. At the end of 2018, Fund Awards by Korea Herald news services are offered domestically and continues to grow its digital financial we were among South Korea’s top three media; the Grand Prize in global funds 2018 Total Assets In USD millions overseas. platform so it can provide differentiated asset management companies with USD at the 2017 Korea Securities Awards by products and services that can respond to 80.20 billion in assets under management Seoul Economic Daily news media; Top In the ever-changing capital market, we’re digital transformations and trends. In July 186 (AUM). We have people with unparalleled Financial Product in the First Half grounded by our company policy to listen 2017, we established the Data Analytics expertise who operate highly organized in 2017 by South Korea’s Economic 6,135 to our employees, our customers, and Lab, the first Big Data analysis company systems across all areas, including Review magazine; and the Grand Prize to continuously encourage innovations in the South Korea’s financial investment product development, research, in Korean bond funds at the 2017 Asia within the organization. We differentiate industry. The Lab conducts research compliance, and risk management. Fund Awards for Hanwha Short-Term our services by putting customers first and projects on various topics including Big All of our products and services cater Government and Corporate Bond Funds. building customer trust. Data analysis and offers general consulting and applications consulting. In April 2019, as part of our efforts to expand our
The foundation of our principles is customer Hanwha Asset Management is widely satisfaction, protecting investments, recognized for its innovative solutions and a and growth. At Hanwha Investment & disciplined approach to asset management. Securities, we’re committed to responsible With them, Hanwha Asset Management’s management and service innovations to mid- and long-term plan is to become the best ensure we can be a reliable financial partner. asset management company in Asia.
96 97 Hanwha Hanwha Savings Bank is a financially Today, we are a sound savings bank sound blue-chip savings bank. We faithfully whose continued growth is backed by the Savings Bank fulfill our role as a microfinance institution confidence of our customers. We constantly www.hanwhasbank.com by supporting small and medium-sized strive to benefit both our clients and the companies with great potential, developing society by developing products that serve new products, and providing convenient their interests. Our risk management EXPERTISE services. system enables us to perform faithfully by Deposits, commercial and personal loans providing individual and business clients Founded in 1997, Hanwha Savings with top-quality financial products and 2018 Total Sales Bank joined the Hanwha Group in services. In USD millions 2008 and has since grown into one of the most stable savings banks in the industry. Even in unfavorable business climates, we’ve been able to safely pursue external 45 growth with our experienced sales teams and a highly disciplined management 2018 Total Assets team. We also found success by extending In USD millions the fundamental roles of microfinance institutions and supporting small and medium-sized companies with great 853 potential. Services & Leisure
Hanwha Hotels & Resorts Hanwha Galleria Hanwha Galleria Timeworld Hanwha Estate Hanwha Station Development
Hanwha Savings Bank is a stable financial institution that has earned its customers’ trust over the years with its top-quality sales teams, financial products, and disciplined management.
98 99 Hanwha Hanwha Hotels & Resorts is also built the breathtaking Aquarium Connoisseurs can experience THE Hanwha Hanwha Galleria offers high-quality Together, the Galleria department stores Our vision is to be the No. 1 premium becoming South Korea’s premier leisure Belt. The Aquarium Belt is South Korea’s PLAZA’s seven outstanding cuisines in fashion, food culture, and differentiated offer an unparalleled suite of upscale content producer. To this end, Hanwha Hotels & Resorts and service provider of resorts, hotels, largest network of aquariums located the landmark Building, along with Galleria customer experiences at Galleria shopping experiences. They carry Galleria will offer unparalleled values www.hwrc.co.kr and food services. across 4 cities: Jeju, Yeosu, Ilsan, and a panoramic view of Seoul. Food is www.hanwhagalleria.co.kr Luxury Hall, South Korea’s preeminent distinctive brands and follow local fashion that no other retailer can provide. Seoul. And in partnership with Geoje city prepared with fresh seasonal ingredients department store, and at our flagship trends while also offering a food culture We’ve already begun by enhancing Our Resort Division began operations in government, we recently created a new by top award-winning chefs. local department store networks. that is sure to satisfy every discerning our merchandising with better lifestyle EXPERTISE EXPERTISE 1979 as the developer of South Korea’s tourist destination, the Hanwha Hotels taste. Individually, each department store products and offering more services Resorts, hotels, leisure, food services first resort condominium project. & Resorts Geoje Belvedere. The marine Hanwha Hotels & Resorts’ Food Retail, fashion Since its 1976 founding in South Korea, offers its own differentiated experiences dedicated to VIP customers. resort with 470 rooms and a private Culture Division is becoming a global Hanwha Galleria has specialized tailored to the needs of local customer Our department store division is stocking 2018 Total Sales We own South Korea’s best condominium marina opened in 2018 to rave reviews. food services company providing a 2018 Total Sales in retail services with a great focus on segments. Each store also maintains the best high-end brands and Galleria- In USD millions chains that include the Saipan World portfolio of services, including food In USD millions department stores. We also operate other a solid No. 1 position among department Only brands and making them available Resorts in Saipan and the Ocean Palace Our Hotel Division has developed THE service contracts, dining business retail businesses, including online malls, stores in the region. in exclusive stores and environments Golf Club & Resorts in Japan that PLAZA into a world-class 410-room luxury services, and food material supplies. global brand direct sourcing, and the our customers have come to expect. combined, boasts over 5,200 guest boutique hotel. Located in the heart The food culture division uses a unique retail of exclusive brands. The Gwanggyo store is slated to open And going forward, we’ll look more to 1,134 rooms across 13 properties. In Japan and of Seoul, THE PLAZA offers impeccable but highly effective food service 324 in 2020 and it will be our second Luxury sustainable business models for the South Korea, we own and operate six service and experience accented by operating system and has provided Currently, we have five stores (including Hall. This store will leverage Hanwha rapidly changing landscape. 2018 Total Assets premier golf courses totaling 126 holes. its unique interior design. In 2016, the catering and a range of professional 2018 Total Assets the store Hanwha Galleria Timeworld, Galleria’s decades of experience In USD millions We partner with Resort Condominiums hotel became the first in South Korea to services for more than 30 years. In USD millions a subsidiary of Hanwha Galleria) across operating premium stores and managing Our goal is to deliver the highest-quality International (RCI), a worldwide join the Autograph Collection, a luxury We currently provide premier nationwide Korea in major cities of Seoul, Suwon, luxury brands – some that are exclusive service in the industry. Going digital membership network, to operate hotels portfolio owned by Marriott International. food services of 170,000 meals to 350 Cheonan, Daejeon, and Jinju. only to Hanwha Galleria. We will is one path we’re taking; the other is and resorts in China and Southeast Asia. Our exceptional customer service and businesses a day. Our food culture In 2020, as part of our expansion to meet use our deep experience and skills in continuing our investment in our current 2,196 upscale accommodations have been division also runs concept restaurants 1,670 growing demand, we will open our sixth operating luxury department stores, business with renovations and new store We also operate Seorak Waterpia, Pororo recognized by the hotel industry. THE including, the Chinese Bistro T-won and department store in Gwanggyo, Suwon. the Gwanggyo store will set new openings. This way, as we pursue our Aqua Village in Gyeongju, Jeju Therapy PLAZA was selected as one of the Top 25 Dowon-Style. Our dining business unit Our Galleria Luxury Hall in Seoul is South department store standards by featuring vision, we’ll continue our constant growth Center, Royal Saddle Equestrian Society, Hotels for Luxury and Best Service by the features commissioned services in multi- Korea’s preeminent department store, customers’ favorite high-end luxury streak. and Jade Garden in Chuncheon – all TripAdvisor 2019 Travelers’ Choice Awards. use complex facilities, as well as PLAZA, featuring the world’s leading luxury brands, enhanced VIP services, and digital renowned attractions and the envy It also ranked No. 2 of the nine Best an elegant wedding and banquet service. brands. The Luxury Hall East offers high- conveniences. As a growth engine for of other companies in the industry. In Luxury Hotels in Korea by Global Traveler, And with a food analysis lab certified by end luxury brands with unique values Hanwha Galleria, the Gwanggyo store addition, we operate Square on the a worldwide business travel magazine. the Food Sanitary Inspection Institution, while the other side of the building, is slated to become the flagship landmark Han River, which offers high-quality The International Hotel Awards selected a rigorous sanitation management the Luxury Hall West, showcases global in Gyeonggi-do, along with a convention services and attractions, including Art THE PLAZA as its 2018 Best Luxury Hotel system, and a state-of-the-art distribution fashion trends, fine dining, and premium center, hotel, and multi-use building in and an elaborate aquarium. and Best City Hotel, the first of its kind in system, we are an industry leader in food services. the luxury complex. South Korea. material supply. With our expertise and technologies used in the construction of Sea World, the first aquarium in South Korea, we
Seorak Sorano combines the beautiful natural Galleria Luxury Hall’s luxury brands, global scenery of the East Sea with the high peaks of fashion trends, fine dining, and premium Mount Seorak, where guests can appreciate services are all part of our vision to create a soothing and relaxing experience. Guests the next-generation of luxury malls that can also enjoy leisure facilities such as Seorak cater to the upscale and refined shopping Waterpia, Seorak Cinerama, Film Lot, experience. and Plaza CC Seorak.
100 101 Hanwha Hanwha Galleria Timeworld is We’ve subdivided expansive areas within Hanwha Hanwha Estate has extensive Since our founding in 1988, we have We have also taken advantage of our the largest high-end department store the building for home living & experience in managing more than continually expanded business and nationwide network and solid business Galleria in central province of South Korea. décor shopping, experiencing culture, Estate 100 diverse facilities and properties enhanced our competitiveness. Building portfolio to steadily increase our stake Timeworld Our unique luxury brands, gourmet entertainment, and a maze of www.hanwhaestate.com around the nation. We offer on our deep operational expertise, we in real estate management. Building on restaurants, and differentiated leisure international gourmet restaurants differentiated solutions by maximizing have provided real estate management that portfolio, we expect to become www.hanwhagalleria.co.kr facilities cater to seekers of premium to satisfy the interests and tastes of customer asset value and providing services for more than 100 Hanwha an innovator in real estate services as EXPERTISE lifestyle experiences and consumers of everyone young and old. In 2019, we advanced energy-efficient and eco- affiliate buildings and client assets, we reinvent and enhance the value of EXPERTISE all ages. expect to secure our status as the top Comprehensive friendly models. including office buildings, data centers, commercial space by creating synergies Retail, fashion department store in the central province real estate services resorts, complex facilities, and research from our diverse businesses. Hanwha Galleria Timeworld, of South Korea by launching additional Hanwha Estate is a comprehensive centers. Our years-long management a subsidiary of Hanwha Galleria, luxury brands and renovating our group real estate services firm offering real estate experience has sharpened our skills in 2018 Total Sales 2018 Total Sales primarily oversees department stores in of restaurants. Timeworld West will consulting, asset and facility operation property management and deepened our In USD millions In USD millions the city of Daejeon. focus on affordable fashion brands for management, construction, security expertise in electrical facilities, machinery, trendsetting fashionistas while Timeworld solutions, and energy-efficient projects equipment, disaster prevention, Hanwha Galleria Timeworld is itself East will be reorganized to offer exclusive designed to increase the value of client firefighting, communications facilities, 302 also the largest high-end department signature product lines targeting more 91 assets. building maintenance, and security. store in central province of South Korea. mainstream customers. We will also Our comprehensive technical services It is located in the metropolitan area of improve the exterior of our building with Our real estate consultations are include completed construction site 2018 Total Assets 2018 Total Assets Daejeon city, where public institutions, a differentiated design that will make designed to yield maximum profits inspections, safety audits, functional In USD millions In USD millions financial companies, and large apartment it a Daejeon city landmark. Hanwha through the employment of optimized checks of firefighting facilities, and physical complexes are concentrated. Hanwha Galleria Timeworld is building on solutions. Our consultations begin with a inspections. Galleria Timeworld specializes in its local reputation to become a major thorough market analysis and innovative 404 luxury fashion brands from around the department store recognized nationwide. 35 perspectives appropriate to customer In the construction and security world and it was the first of its kind in the and property characteristics. In asset businesses, Hanwha Estate guarantees region to feature brands such as Louis and facility management services, we excellent construction quality and safety Vuitton, Gucci, and Prada. We’re renowned assign highly skilled and experienced by rigorously following basic principles as the premier high-end shopping professionals to the project to provide across process, safety, construction, and destination in Daejeon, one of the largest ongoing administrative and technical quality control. We also check energy flow cities in Korea. support. Harnessing our full spectrum throughout each building and provide of facility management experience, we eco-friendly models for energy efficiency. provide high-quality services that fulfill Our converged services add up to one- customer needs. stop solutions for all customer needs.
Hanwha Galleria Timeworld is the biggest Hanwha Estate is an ever-evolving department store in the central part of South real estate services provider. We create Korea, providing premium lifestyle experiences new cultures and environments by nimble with the widest selection of exclusive luxury adjustments in how we work. We also pursue brands and exceptional gourmet services. innovation through communications and collaboration. Our goal always is to increase the value of customer real estate assets.
102 103 Hanwha Station Development Hanwha is a premier developer and manager Station of commercial complexes whose core Development competencies are in its experience in developing and operating advanced www.hwsd.co.kr railway stations.
EXPERTISE Hanwha Station Development is Commercial development, our nation’s premier developer and property management manager of railway stations. Since our founding in 1987, we have pioneered the retail and leisure culture by combining 2018 Total Sales commercial complexes with private In USD millions stations. We developed building complexes in the centrally located Seoul Station and the Cheongnyangni Station 198 – logistics hubs in the northeastern part of Seoul. By leveraging our expertise and capabilities in business assessment, 2018 Total Assets concept development, project financing, In USD millions lease marketing, construction management, and facility operation, we are fast becoming an industry-leading developer and manager 388 of commercial complexes.
Located in the northeastern part of Seoul, Cheongnyangni Station is a nine-story complex with more than 177,793 square meters of space, including three underground levels. With a department store, an outlet mall, a theater, and restaurants, it is driving economic growth for the community around it.
104 105 Corporate Social Responsibility As a world-class solar energy business enterprise, our mission is to achieve sustainable At Hanwha, we’re committed not only to our customers and employees but also to SOCIAL growth; our guide is our social responsibility. This is why we’re educating children through SOCIAL the people who live in the communities where we do business. Giving back is part of our RESPONSIBILITY eco-friendly programs, and inviting people to join the energy revolution through activities RESPONSIBILITY culture and we do this through professional organizations and financial support. We engage that counteract climate change and help the environment. From installing entire solar power in activities that help keep dreams alive and enthusiasms going. And by combining our - Eco-Friendly Solar Energy generation systems to making communities energy self-sufficient to building solar forests to - Culture, Arts, and Sports professional talents with our desire to do good, we’re turning ideas into practical solutions to fight deforestations, we’re not only using solar energy, we’re making a difference. improve lives and the world In which we live.
Grand Prize Winner at the 2016 Seoul International Fireworks Festival photo contest.
Hanwha solar modules donated to Seoul International Fireworks Festival the World Economic Forum Congress Center in Davos Since 2000, Hanwha has annually held the Seoul International Fireworks Festival to put on Having installed a total of 640 solar modules on a 1,000-square-meter roof on the World spectacular fireworks shows with themes around optimism and dreams.
Economic Forum Congress Center, we will be able to reduce 20 tons of CO2 emissions per year.
• Happy Sunshine Campaign Happy Sunshine Campaign one in Incheon used the seedlings grown Hanwha Clean Up Mekong • Orchestra Festival with Hanwha Arts and Culture Seoul International Fireworks Festival Operating and Assisting Sports Teams • Hanwha Hope Project: Happy Hanwha is driving the use of sustainable by solar energy facilities and donated by Campaign • Hanwha Pop and Classic Hanwha supports a range of arts and and Hanwha One Step Closer to in South Korea Sunshine energy in communities with expertise Hanwha. Hanwha Solar Forest is the In June 2019, to commemorate World • Hanwha Classic cultural events. Since 2000, we have Your Dream Through sports, Hanwha has created • Hanwha Solar Forest • Seoul International Fireworks Festival gained from vertical integration of our first demonstration of how solar energy Environment Day, Hanwha launched sponsored the Orchestra Festival, the Hanwha hosts the Seoul International positive energy and communicated • Solar modules donated to the World with Hanwha solar businesses. Our best-known program can be used to prevent desertification. the Clean Up Mekong campaign to help largest event of its kind in South Korea. Fireworks Festival with the world's leading inspirational messages to sport fans Economic Forum in Davos • Hanwha One Step Closer to • Hanwha Clean Up Mekong Campaign is Happy Sunshine, a project where we The UNCCD has praised it as a best address one of the world's ongoing Your Dream Our annual Hanwha Pop and Classic fireworks technology companies, lighting and followers. In 1986, we founded the donated a total of 1,779KW solar power practice, urging others to follow. environmental issues: water waste. • Hanwha Eagles has been held in cities across the country up the sky over the Yeouido Hangang Hanwha Eagles to help revitalize generation systems to 254 welfare centers We donated solar-powered boats that • Team Hanwha Q CELLS since 2004, and the Hanwha Classic has River Park every autumn. Since its debut professional baseball as a national favorite in South Korea to help them save on utility Solar Panels Donated to Davos could remove wastes from the Mekong performed classical music since 2013. In in 2000, the festival has wowed over a pastime. We also established Team bills. We also operate Hanwha Hope The World Economic Forum, held annually River before the river water empties into recognition of popularizing classical music million spectators, providing unforgettable Hanwha Q CELLS in 2011 to promote Project where we donated solar power in Davos, Switzerland, draws attention the Pacific Ocean. We also developed a and promoting the Korean culture and memories for families and friends. With the golf in South Korea and hosted the annual generation systems to elementary schools to pressing issues facing the world, digital media campaign to publicly raise arts, Hanwha was awarded the Grand slogan of Sharing Hope through Fireworks, Hanwha Classic, the nation’s top golf in underserved areas in China. such as environmental sustainability. In environmental awareness and educate Prize of the Presidential Award at the this has become a flagship cultural festival. tournament. support, since 2013, we have donated the Vietnamese people on the use of eco- Mecenat Conference & Awards hosted Hanwha One Step Closer to Your Dream Hanwha Solar Forest photovoltaic modules to the City of Davos. friendly energy and their responsibility to by the Korea Mecenat Association in supports people who cannot afford time Since 2011, the Hanwha Solar Forest The solar modules donated by Hanwha prevent climate change. 2006 and 2011. In 2014, we received the for leisure. It is a unique campaign to help campaign has planted 500,000 trees Solutions have a capacity of 340KW. This Achievement Award at the SAC Awards by people achieve their inner dreams and across seven locations in Korea, Mongolia, amount of energy is enough to reduce 20 Seoul Arts Center. passion for travel. It is recognized as an and China. Our three forests in China and tons of CO2 emissions per year. extraordinary social contribution program.
108 109 SOCIAL Since the Hanwha Social Responsibility Center was founded in 2002 to commemorate ENVIRONMENTAL Hanwha supports a sustainable future by proactively responding to a changing global the company’s 50th anniversary, Hanwha has called upon each affiliate company, energy paradigm and by building a corporate culture that embraces environmental RESPONSIBILITY to participate by sending volunteer teams for various social activities. We also make AND SAFETY protection and safety. We are expanding new and renewable energy businesses great efforts to identify employees with potential and to nurture the talents of centered on solar energy. In response to climate change, we strive to reduce - Talent Development and our future leaders. RESPONSIBILITY environmental impact with low-carbon energy sources in all areas of our businesses. Employee Volunteers
Hanwha-KAIST Science Outreach Program, Convergence Science Camp Hanwha Solutions, the first solar energy solutions provider to receive Hanwha partnered with KAIST to jointly host a science camp to nurture future scientists. the Product Carbon Footprint Certification (ISO 14067) Hanwha Solutions received an industry-first Product Carbon Footprint Certification (ISO 14067). Every Hanwha Solutions business site worldwide acquired an Environmental Management Systems Certification (ISO14001), which verifies minimal environmental impact in the entire production, products, and services process.
• Bugil Foundation Supporting Young Leaders of the Future in art, music, and dance to more than 3,000 hands-on activities designed and taught • Reduced 70,000 TOE (Ton of Oil Protecting the Environment and Responding to Climate Change Establishing a Culture of Safety • Hanwha Science Challenge Hanwha believes that fostering talents disadvantaged children. And since 2018, we by the employees themselves in whichever Equivalent) in energy Addressing Climate Change Since 2013, Hanwha has provided free Hanwha works to gain community • Hanwha-KAIST Science will ultimately contribute to society. Since have supported creative arts education, such industry and area that they are formally • Reduced USD 30 million worth of In 1991, through the ECO-2000 campaign, classes on solar panels to the general public trust by promoting safety and creating Outreach Program energy costs our foundation, we have expanded our as social design and photography classes, trained in. Our other programs include Hanwha became the first South Korean to increase awareness of climate change safe workplaces. It’s part of our corporate • Hanwha Arts Plus • Reduced more than 170,000 tons programs that develop leaders of the for middle school students in 30 regions giving assistance to people on welfare and company to implement environmental and the ways to use eco-friendly energy. culture. Along with regular safety leadership • DreamPlus of GHG • Relay Volunteer Service to future, such as establishing the prestigious around the country. Launched in 2014, our participating in environmental cleanup • Reduced 1.19 million tons of water, management. We announced our In addition, starting in 2016, we began training for executives and team leaders, Commemorate Company private school, the Bugil Foundation. In DreamPlus program offers online and offline campaigns. Every October to celebrate waste water, and other wastes Environmental Safety and Health Policy collaborating with the government and we developed a diagnostic tool to monitor Founding 2011, we began sponsoring the Hanwha classes for young entrepreneurs seeking to Hanwha’s founding, all affiliates participate • in 2000 and have since implemented environmental NGOs to operate a solar each employee’s safety awareness. • Hanwha Braille Calendar Science Challenge, a high school science start a business or find a job in promising in volunteer services for the disadvantaged. received ISRS 8 grade sustainable management practices for startup academy that offers professional This system identifies and improves an competition aimed at discovering new areas, such as Fintech and content environment safety, health, energy, and education programs for the solar energy employee’s development areas and then outstanding students in science. Since creation. DreamPlus also offers guidance to Hanwha Braille Calendar greenhouse gas. We also created a master business, which, in future, will help create encourages changes in behavior that align 2016, we have also hosted the Hanwha- young people on how to operate a business Since 2000, Hanwha has annually plan to set performance index targets for jobs. We hold these education workshops with to better and safer work culture. KAIST Science Outreach Program, a science and enter markets overseas. produced and donated 50,000 braille 2020 for environmental performance and four times a year and they attract about 80 We also actively work to prevent accidents education program for middle school calendars for the visually challenged. These safety. The plan included the reduction people in every session. by requiring everyone to follow a strict set students in the Daejeon area. Our employees Caring Employee Volunteers braille calendar donations are the largest of greenhouse gases, increasing energy of rules and safety policies and to observe provide various cultural and arts education Hanwha actively engages in social of its kind and represent our ongoing productivity, and improving LTIR (Loss Time industry leading indicators for occupational to children through our Hanwha Arts contributions with the help of its employees. commitment to help everyone read and use Injury Rates). safety. Plus program. From 2009 to 2017, we have One of our flagship programs is an the calendars for all seasons, holidays, and provided programs that offered 6,000 classes enterprise-wide program that supports cycles, solar or lunar.
110 111 Hanwha believes our partners are also part of our family. For small and medium- Hanwha pursues a future-oriented organizational culture that continuously innovates WINNING sized business partners, we help create self-reliant environments and encourage good HUMAN while overcoming challenges. To this end, we recruit talented people from all over the world PARTNERSHIPS management over them. We support our partners to build a foundation for the growth RESOURCES and sponsor programs that help employees grow into global talents. Young Hanwha is a and independence. program that fosters this effort, helping us to move forward and build on the passion that is part of our legacy and foundation.
Building an eco-friendly energy self-sufficient project on Growing Hanwha with global talent South Korea’s Jukdo Island Together, Hanwha’s worldwide talent is building Young Hanwha. In collaboration with Chungcheongnam-do, Hanwha transformed Jukdo Island to become energy self-sufficient.
• Agreements on fair trade and Commitment to Mutual Growth Building Winning Partnerships Invigorating the Regional Economy • Global talent program Sharing Values program, we send associate and junior Promoting Work-Life Balance mutual growth Since 2009, Hanwha has fostered Leveraging our spirit of “trust and loyalty,” Hanwha helps suppliers in rural areas to • Overseas training programs Hanwha strives to hire creative managers all over the world to become Hanwha’s company-wide work-life • Co-prosperity fund collaborative partnerships with over 1,500 Hanwha stays connected with our sell their products at our retail department • Programs for core talent individuals who are driven to innovate. local experts by experiencing the balance policies are designed to improve • Private equity fund for mutual small and medium-sized enterprises. We’ve suppliers. We work frequently with partner stores. For example, when we find hidden • Work-life balance policies We seek people who pursue excellence business and culture of those countries. an employee’s quality of life. Our efforts growth • One-month sabbaticals helped them grow their businesses by companies and have put into practice high-value-added agro-fishery products and will be loyal to our customers, We also operate a special program to have received broad recognition. • Ongoing meetings with partner • Flexible work shifts and an end to companies strengthening their core competencies, our belief in “Going Further Together” by that at the same time increase the local overtime colleagues, and company values. We seek select and develop executive talent to We’re listed as one of Korea’s 100 best • Energy self-sufficiency project on supporting their financial needs, and engaging in joint businesses, exchanging economy, we stock them in our local retail • Job placements people who work hard to achieve their lead Hanwha’s future and growth. In places to work as a family-friendly and South Korea’s Jukdo Island guiding them to engage in fair trade technology, sharing information, and stores. Also, using our micro-grid business, goals and understand the importance of our commitment to develop Hanwha’s gender-equality company. When we practices. In 2011, we promoted mutual providing exemptions from performance solar energy-linked ESS (Energy Storage supporting a greater cause. We develop future global leaders, we sponsor select commemorated our 64th anniversary growth by working collaboratively with guarantees. We are expanding industry- System) technology, we transformed global talent with professionalism and by employees in their pursuit of an MBA or in 2016, we announced the Young our partners instead of competing against specific programs to help our partners Jukdo Island in Chungcheongnam-do into providing a range of training programs EMBA from the world’s best programs or Hanwha program and introduced them. Since then, we have created an become more competitive as they expand an energy self-sufficient island, reducing for specific jobs and positions. to earn a masters or doctoral degree in corporate culture initiatives like getting annual co-prosperity fund of USD 178 their domestic and international sales energy costs and helping tourism. STEM (Science, Technology, Engineering, a one-month sabbatical when promoted, million and earmarked a private equity networks. We are also supporting their Cultivating Global Leaders and Math). flexible work shifts, and support for career fund of USD 178 million for this mutually innovations, equipment purchasing, and Hanwha continues to invest in talent. development. These initiatives are all benefitting partnership. assisting them in executing best practices Our global talent program nurtures contributing to the foundation that will for safety, process, environment and employees with potential and interests in ultimately help Hanwha become quality control. global business. In our regional specialist a global top-tier company.
112 113 Global AMERICAS EUROPE & AFRICA CHINA ASIA, MIDDLE EAST & OCEANIA Network Canada Hanwha Q CELLS (sales & marketing) Czech Republic Hanwha Advanced Materials Beijing Hanwha China (supporting Hanwha affiliates in China) Australia Hanwha Q CELLS (sales & marketing, EPC) Canada Hanwha Canada Development (lightweight composite materials and products) Beijing Hanwha Advanced Materials India Hanwha International (trading) (solar business management) France Hanwha Q CELLS (sales & marketing) (lightweight composite materials and products) India Hanwha Chemical (sales) Chile Hanwha Q CELLS (downstream solar) Germany Hanwha Europe (trading) Beijing Hanwha Q CELLS (sales & marketing) India Hanwha Q CELLS (sales & marketing) Mexico Hanwha Advanced Materials Germany Hanwha TechM (machine tools sales) Chongqing Hanwha Advanced Materials Indonesia Hanwha Life (life insurance) (lightweight composite products) Germany Hanwha Petrochemical (sales) (lightweight composite products) Japan Hanwha Q CELLS (sales & marketing) USA Hanwha International (trading) Germany Hanwha Advanced Materials Dongguan Hanwha Engineering Plastic Japan Acropark Golf (golf club and resort operation) USA Eagle Petroleum (oilfield development) (lightweight composite products) (producing polypropylene) Malaysia Hanwha Chemical (sales & marketing) USA Hanwha TechM (powertrain assembly) Germany Hanwha Q CELLS GmbH (R&D) Hangzhou Sino-Korea Life (life insurance) Malaysia Hanwha Q CELLS (producing solar cells, modules, and R&D) USA Universal Bearings (producing bearings) Germany Hanwha Q CELLS Berlin (sales & marketing, EPC) Hong Kong Hanwha Corporation (trading) Saudi Arabia Hanwha Saudi Contracting (operation support) USA Hanwha Machinery America (machine tool sales) Italy Hanwha Power Systems (energy equipment sales & marketing) Lianyungang Hanwha Q CELLS Technology (producing PV ingots) UAE SnP World Networks DMCC (trading) USA Hanwha Techwin Automation Americas (chip mounter sales) Italy Hanwha Q CELLS (sales & marketing) Ningbo Hanwha Chemical (producing PVC) UAE Hanwha Techwin (video surveillance system sales & marketing) USA Hanwha Techwin (video surveillance system sales & marketing) Russia Hanwha Power Systems (energy equipment sales) Qidong Hanwha Q CELLS (producing solar cells, modules, and R&D) UAE Hanwha Power Systems (energy equipment sales & services) USA Hanwha Power Systems (energy equipment sales and R&D) Turkey Hanwha Q CELLS (sales & marketing, EPC) Shanghai Hanwha International (trading) Vietnam Hanwha Aero Engines USA Hanwha Azdel (lightweight composite materials) UK Hanwha Techwin (video surveillance system sales & marketing) Shanghai Hanwha Techwin Shanghai (chip mounter sales) (producing aircraft engine components) USA Hanwha Advanced Materials UK Hanwha Q CELLS (sales & marketing) Shanghai Hanwha Power Systems Vietnam Hanwha Techwin (producing video surveillance system) (lightweight composite materials and products) (energy equipment sales & marketing) Vietnam Hanwha Techwin Automation Vietnam USA Hanwha America Development (real estate development) Shanghai Hanwha Chemical (trading) (chip mounter sales) USA Hanwha Q CELLS USA (EPC) Shanghai Hanwha Petrochemical Trading Vietnam Hanwha Life (life insurance) USA Hanwha Q CELLS America (sales & marketing) (polyethylene and polypropylene sales) USA 174 Power Global Corporation (sales & marketing) Shanghai Hanwha Advanced Materials USA Hanwha Life Investment (investment) (lightweight composite materials and products) Shanghai Hanwha Q CELLS (sales & marketing) Suzhou Hanwha TechM (machine tools and powertrain assembly) Tianjin Hanwha Techwin (producing video surveillance system and sales)
• Bakersfield • Monterrey • Aix-en-Provence • Moscow • Cyberjaya • Beijing • Seoul • Bremen • Santiago • Athens • Stuttgart • Ho Chi Minh • Chongqing • Nagasaki • Cerritos • São Paulo • Warsaw • Jakarta •Chongqing Dongguan • Tokyo • Chicago • Berlin • Kuala Lumpur •Guangzhou Guangzhou We have maintained trusted partnerships • Forest • Bitterfeld-Wolfen • Al Khobar • Manila •Dongguan Hangzhou • Perth that have lasted more than 60 years. • Franklin • Bolzano • Almaty • Muara Teweh •Shenzhen Hong Kong • Sydney Together, we have collaborated, • Hawaii • Budapest • Baghdad • Mumbai •Beijing Lianyungang invested, and built across markets in • Irvine • Chertsey • Bismayah City • New Delhi •Tianjin Ningbo almost every continent. Together, we Lianyungang have grown. Hanwha has 76 affiliates • Monroe • Dietfurt • Doha • Samut Prakan • Quidong in South Korea alone and 351 networks • New York • Eschborn • Dubai • Singapore •Hangzhou Shanghai around the world (as of end of 2018). • Opelika • Frýdek-Místek • Kuwait City • Taipei •Suzhou Shenzhen And as we continue improving quality • Pontiac • Istanbul • Modi'in- • Tehran •Ningbo Tianjin and innovating to exceed customer • Saipan • London Maccabim-Re'ut • Yangon • Zhangjiagang expectations, Hanwha will continue Shanghai to grow beyond today’s interconnected • Shelby • Bangkok global business environment. • Teaneck • Johannesburg Qidong This is Hanwha Group. • London • Nairobi • Vancouver 114 115 KOREA Hanwha General Chemical FINANCE SERVICES & LEISURE CHINA Hanwha Techwin (Tianjin) Dongguan Hanwha Hanwha Q CELLS Co., Ltd. Co., Ltd. Engineering Plastic (Shanghai) Co., Ltd. MANUFACTURING & hgc.hanwha.com Hanwha Life Co., Ltd. Hanwha Hotels & Hanwha China No. 11 Weiliu Road, Micro- HuPan Park, Matigang Village 20F, Building A, The New Caohejing CONSTRUCTION 71, Sapyeong-ro, Nam-gu www.hanwhalife.com Resorts Co., Ltd. 27F Taikang Finacial Tower electronic Industrial Park, Jingang DaLingShan Town, Dongguan City International Business Center Ulsan, Korea 50, 63-ro, Yeongdeungpo-gu www.hwrc.co.kr No.38 Yard East 3rd Ring North Road, Tianjin 300385, China Guangdong 523000, China No.391. Guiping Rd. Hanwha Corp. Tel 82.52.278.6000 Seoul, Korea 50, 63-ro, Yeongdeungpo-gu Road Chaoyang District, Beijing Tel 86.22.2388.7788 (8700) Tel 86.769.8278.1999 Xuhui, Shanghai, China www.hanwhacorp.co.kr Fax 82.52.278.6340 Tel 82.1588.6363 Seoul, Korea 100026, China Fax 86.22.2388.7788 (8505) Fax 86.769.8278.1998 Tel 86.21.6858.7519 86, Cheonggyecheon-ro Fax 82.2.789.8689 Tel 82.1588.2299 Tel 86.10.6583.7777 Fax 86.21.6858.7520 Jung-gu, Seoul, Korea Hanwha Petrochemical Fax 82.2.789.5484 Fax 86.10.6517.7919 Hanwha Techwin (Shanghai) Hanwha Petrochemical Tel 82.2.729.1881 Co., Ltd. Hanwha General Insurance Co.,Ltd. Trading (Beijing) Hanwha Q CELLS Fax 82.2.752.3475 www.hanwha-total.com Co., Ltd. Hanwha Galleria Co., Ltd. Hanwha (H.K.) Co., Ltd. 20/F, New Caohejing International RM 812, Taikang Financial Tower (Qidong) Co., Ltd. 103, Dokgot 2-ro www.hwgeneralins.com www.hanwhagalleria.co.kr Unit 2201, 22/F, Golden Centre Business Center A, NO.391 Guiping 38# Yard East 3rd ring North Road 888 Linyang Road, Qidong Hanwha Aerospace Co., Ltd. Daesan-eup, Seosan 56, Yeoui-daero, Yeongdeungpo-gu 50, 63-ro, Yeongdeungpo-gu 188 Des Voeux Road Central Road, Shanghai, China Chaoyang, Beijing 100026, China Jiangsu 226200, China www.hanwhaaerospace.co.kr Chungcheongnam-do, Korea Seoul, Korea Seoul, Korea Hong Kong Tel 86.21.5427.1155 Tel 86.10.8587.9660 Tel 86.513.8360.6222 1204, Changwon-daero Tel 82.1566.8000 Tel 82.2.410.7114 Tel 852. 2169.0617 Fax 86.21.5423.5122 Fax 86.10.8587.9600 Fax 86.513.8360.6376 Seongsan-gu, Changwon Tel 82.41.660.6114 Fax 82.2.316.8443 Fax 82.2.414.0025 Fax 852.2529.4678 Gyeongsangnam-do, Korea Fax 82.41.681.4812 Hanwha Power Systems Hanwha Petrochemical Sino-Korea Life Tel 82.55.260.2114 Hanwha Investment & Hanwha Galleria Timeworld Hanwha International (Shanghai) Co., Ltd. Trading (Shanghai) Insurance Co., Ltd. Fax 82.55.260.2230 Securities Co., Ltd. Co., Ltd. (Shanghai) Co., Ltd. 200233 20/F, New Caohejing Room 1701, Tower A, Dawning 23/24F, Tower A UDC Building www.yncc.co.kr www.hanwhawm.com www.hanwhagalleria.co.kr 21F, New Caohejing International International Business Center A Centre, No.500 HongBaoShi Road 8 Xin Ye Rd, QianJiangCBD Hanwha Defense Co., Ltd. 8F, Korea Chamber of Commerce & 56, Yeoui-daero, Yeongdeungpo-gu 211, Daedeok-daero Business Center A, No. 391 Guiping No391, Guiping Road, Shanghai Changning District, Shanghai Hangzhou, China 310016 www.hanwha-defense.co.kr Industry Building Seoul, Korea Seo-gu, Daejeon, Korea Road, Shanghai, 200233, China China 201103, China Tel 86.571.8736.1777 86, Cheonggyecheon-ro 39, Sejong-daero, Jung-gu Tel 82.2.3772.7000 Tel 82.42.480.5000 Tel 86.21.5401.6089 Tel 86.21.5427.1155 Tel 86.21.3209.8060 Fax 86.571.8583.9999 Jung-gu, Seoul, Korea Seoul, Korea Fax 82.2.3772.7099 Fax 82.42.480.5544 Fax 86.21.3209.2312 Fax 86.21.5423.5122 Fax 86.21.3252.2286 Tel 82.2.729.5500 Tel 82.2.6050.2400 Hanwha Life Fax 82.2.729.5820 Fax 82.2.6050.0888 Hanwha Asset Management Hanwha Estate Co., Ltd. Hanwha (H.K.) Co., Ltd. Hanwha Chemical Hanwha Petrochemical (A Liaison Office in Co., Ltd. www.hanwhaestate.com Shanghai Representative Office (Shanghai) Co., Ltd. Trading (Shenzhen) Hong Kong) Hanwha Systems Co., Ltd. Hanwha Energy Corp. www.hanwhafund.com 50, 63-ro, Yeongdeungpo-gu 21F, New Caohejing International RM 2106, New Caohejing Room 2705, Zhaobangji Unit 2201, 22/F, Golden Centre www.hanwhasystems.com hec.hanwha.co.kr 50, 63-ro, Yeongdeungpo-gu Seoul, Korea Business Center A, No. 391 Guiping International Business Center A Fiance Building 188 Des Voeux Road 86, Cheonggyecheon-ro Sejong Tower Building Seoul, Korea Tel 82.2.789.6363 Road, Shanghai, 200233, China No. 391, Guiping Road, Xuhui No.319 Fuhua Road Central, Hong Kong Jung-gu, Seoul, Korea 411, Hannuri-daero Tel 82.2.6950.0000 Fax 82.2.789.5678 Tel 86.21.5401.6089 District, Shanghai 200233, China Futian District, Shenzhen Tel 82.2.729.3030 Sejong, Korea Fax 82.2.6950.0009 Tel 86.21.6278.5556 Guangdong 318033, China Hanwha Life Insurance Fax 82.2.729.4800 Tel 82.44.850.3500 Hanwha Station Hanwha Corporation Fax 86.21.6278.8728 Tel 86.755.2399.6516 Co., Ltd. Fax 82.44.850.3599 Hanwha Savings Bank Development Co., Ltd. Beijing Representative Office Fax 86.755.2399.6510 Beijing Representative Office Hanwha Techwin Co., Ltd. www.hanwhasbank.com www.hwsd.co.kr 27F, Taikang Financial Tower Hanwha Chemical 27F, Taikang Financial Tower www.hanwhatechwin.co.kr Hanwha Engineering & 139, Bucheon-ro 405, Hangang-daero No. 38 Yard East 3rd Ring North (Ningbo) Co., Ltd. Hanwha No.38 Yard East 3rd Ring North 6, Pangyo-ro 319beon-gil Construction Corp. Bucheon, Gyeonggi-do, Korea Jung-gu, Seoul, Korea Road, Chaoyang District No. 55, Huandao North Road Advanced Materials Road, Chaoyang District Bundang-gu, Seongnam www.hwenc.co.kr Tel 82.32.657.5000 Tel 82.2.390.4000 Beijing 100026, China Daxie Development Zone (Beijing) Co., Ltd. Beijing 100026, China Gyeonggi-do, Korea 24, Yeoui-daero, Yeongdeungpo-gu Fax 82.32.666.9970 Fax 82.2.390.4004 Tel 86.10.6583.7971 Ningbo, Zhejiang 315812, China Zhongguancun Science Park Tel 86.10.6583.7900 Tel 82.70.7147.7000 Seoul, Korea Fax 86.10.6583.7999 Tel 86.574.8677.8013 (East Sector), Changping Zone Fax 86.10.6583.7925 Fax 82.31.8018.3740 Tel 82.2.2055.6000 Hanwha Eagles Fax 86.574.8675.1067 4 Lixiang Road Fax 82.2.2055.5770 Professional Baseball Club Hanwha Corporation Beijing 102200, China Hanwha Asset Management Hanwha Precision www.hanwhaeagles.co.kr Guangzhou Representative Hanwha Chemical Tel 86.10.6073.5435 Ltd. Machinery Co., Ltd. Hanwha City Development Hanbat Sports Complex Office Corporation Fax 86.10.6073.5459 1-1504B-68, kuangshi building, www.hanwhaprecisionmachinery.co.kr Co., Ltd. 373, Daejong-ro, Jung-gu, Fortune Plaza, West Tower Beijing Representative Office Tianjin FTZ (CBD), China 6, Pangyo-ro 319beon-gil www.hcd21.co.kr Daejeon, Korea RM 1903 #114-118 27F, Taikang Financial Tower Hanwha Tel 86.22.2329.6300 Bundang-gu, Seongnam 13th Floor, Federation of Korean Tel 82.42.630.8200 Tiyudong Road, Guangzhou, China No.38 Yard East 3rd Ring North Advanced Materials Gyeonggi-do, Korea Industries Bldg. 24, Yeoui-daero Fax 82.42.632.2929 Tel 86.20.3893.1571 Road, Chaoyang District (Shanghai) Co., Ltd. Tel 82.70.7147.8701 Yeongdeungpo-gu Fax 86.20.3893.2760 Beijing, China Jiading Industrial Zone Fax 82.31.8018.3709 Seoul, Korea Bugil Foundation Tel 86.10.6583.7973 1201 Xingrong Road Tel 82.2.2055.4300 www.bugil.hs.kr Hanwha TechM (Suzhou) Fax 86.10.6583.7999 Shanghai 201807, China Hanwha Power Systems Fax 82.2.2055.4309 San 11-1, Sinbu-dong Co., Ltd. Tel 86.21.3996.3996 Co., Ltd. Cheonan, Chungcheongnam-do North Side of Sigang Segment, Hanwha Chemical Fax 86.21.3996.3911, 3922 www.hanwhapowersystems.co.kr Korea Zhangyang Road, Zhangjiagang Corporation 1204, Changwon-daero Tel 82.41.520.8866 Economic And Technology, Shanghai Representative Office Hanwha Seongsan-gu, Changwon Fax 82.41.520.8889 Development Zone, Zhangjiagang RM 2106, New Caohejing Advanced Materials Gyeongsangnam-do, Korea City, Jiangsu Province International Business Center A (Chongqing) Co., Ltd. Tel 82.70.7147.8000 Tel 86.512.8017.9915 No. 391, Guiping Road, Xuhui 19 YingLong Road, Longxing Town, Fax 82.31.8018.3881 Fax 86.512.8017.9914 District, Shanghai, 200233, China Yubei District, Chongqing, China Tel 86.21.6278.5556 Tel 86.023.8856.7758 Hanwha Solutions Corp. Fax 86.21.6278.8728 www.hanwhasolutions.com 86, Cheonggyecheon-ro Hanwha Chemical Jung-gu, Seoul, Korea Corporation Chemical Division Guangzhou Representative Tel 82.2.729.2700 Office Fax 82.2.729.2999 RM 1905, West Tower Q CELLS Division Fortune Plaza No. 116-118 Tel 82.1600.3400 Tiyudong Road, Guangzhou, China Fax 82.2.729.3313 Tel 86.20.3893.1553 Advanced Materials Division Fax 86.20.3893.1546 Tel 82.2.729.2100 Fax 82.2.729.2146
116 117 JAPAN SOUTHEAST ASIA & Hanwha Corporation Hanwha Chemical Hanwha Life Insurance AMERICAS & Hanwha Techwin Hanwha Q CELLS MIDDLE EAST Almaty Representative Office India Pvt. Ltd Co., Ltd. (Vietnam) OCEANIA Automation Americas, Inc. Canada Inc. Hanwha Chemical Room 48, 10th floor, 4a Nurly-Tau Unit No.105 - 106, Rectangle 1 14F Ruby Tower 6000 Phyllis Dr. Cypress 2860 Innovation Drive London Corporation Hanwha International (S) business center, 7 Alfarabi Prospect D-4, Disticrt Centre, Saket 81-85 Ham Nghi Street, Dist 1 Hanwha International LLC CA 90630, USA Ontario N6M 0C5, Canada Tokyo Office Pte. Ltd. 050059 Almaty, Republic of New Delhi-110017, India TP HCM, Vietnam 300 Frank W. Burr Blvd. Tel 1.323.383.3662 Tel 1.519.457.8325 9F, Hanwha Building, 10-1 4 Shenton Way Kazakhstan Tel 91.11.4308.5500 Tel 84.28.3914.9100 (1107) Suite #52 Teaneck Fax 1.519.457.9641 Shiba 4-chome Minato-ku #15-05/06 SGX 2 Center Tel 7.727.311.0273, 0274 Fax 84.28.3914.9101 NJ 07666, USA Hanwha Machinery Tokyo 108-0014, Japan Singapore 068807 Fax 7.727.311.0275 Hanwha Petrochemical Tel 1.609.655.2500 (775) America Inc. Hanwha Q CELLS Chile SPA Tel 81.3.5441.5976 Tel 65.6227.2754 Singapore Branch PT. Hanwha Life 9750 S. Oakwood Park Enrique Foster Sur, 39. Planta 12 Hanwha Aero Engines Insurance Indonesia Dr. Franklin, Wi 53132, USA Fax 65.6227.9337 048581 16 Raffles Quay Hanwha International LLC Las Condes, Santiago, Chile Hanwha Petrochemical Co., Ltd #14-03A Hong Leong Building WTC Building 1, 12F LA Office Tel 1.414.421.2300 Tel 562.2378.7734 Japan Branch Hanwha International Lot CN1-02B-4-8, Hi-Tech Park I Singapore Jl Jend Sudirman Kav 29 6000 Phyllis Drive, Cypress 1F, Hanwha Building, 10-1 India Pvt. Ltd. Hoa Lac Hi-Tech Park Tel 65.6223.5288 Jakarta 12920, Indonesia CA 90630, USA Hanwha power systems Hanwha Q CELLS Shiba-4Chome, Minato-ku, Tokyo No.35, 3rd Floor, Maker Chamber Ha Bang Commune Fax 65.6223.1828 Tel 62.21.508.16100 Tel 1. 562.745.7199 Americas Inc. Australia Pty. Ltd. 108-0014, Japan III, Nariman Point, Mumbai 400 021 Thach That District Fax 62.21.508.16111 11700 Katy Freeway, Suite 650 Suite 1, Level 1 Tel 81.3.6369.6067 Maharashtra, India Hanoi, Vietnam Hanwha Q CELLS Malaysia Hanwha International LLC Houston TX 77079, USA 15 Blue Street, North Sydney Fax 81.3.6369.6066 Tel 91.22.2204.3718 Tel 84. 024. 3366. 8854 Sdn. Bhd. Hanwha Asset Management Houston Office Tel 1.281.599.3377 ext.220 NSW 2060, Australia Fax 91.22.2204.0281 Lot 1, Jalan SP 2, Seksyen 2 Pte. Ltd. 10111 Richmond Ave Fax 1.281.599.7734 Tel 61.2.9016.3033 Hanwha Q CELLS Japan P&W NGPF Manufacturing Selangor Science Park 2, Cyberjaya 50 Raffles Place, #34-06 Singapore Ste 410 Houston,TX 77042, USA Fax 61.2.9016.3032 Co., Ltd. PT. Hanwha Mining Services Company Singapore Pte Ltd. Selangor 63300, Malaysia Land Tower, Singapore 048623 Tel 1.713.402.1990 Hanwha Azdel Inc. 8F, Hanwha Building, 10-1 Indonesia 51 Seletar Aerospace View Tel 60.3.83.15.00.00 Tel 65.6817.1650 2000 Enterprise Drive Hanwha Q CELLS Shiba 4-chome, Minato-ku Talavera Office Park (Suites Area) 797506, Singapore Fax 60.3.83.20.26.60 Hanwha International LLC Forest, VA 24551, USA Solar Technology Australia Tokyo 108, Japan Lantai 21, JL TB Simatupang Kav Tel 65.6461.9700 D.C Office Tel 1.434.386.4081 Pty. Ltd. Tel 81.3.5441.5900 22-26, Cilandak Barat-Jakarta Fax 65.6461.9705 Hanwha Q CELLS 1400 Crystal Dr.Arlington Fax 1.434.385.6532 Suite 1, Level 1 Fax 81.3.5441.5921 Selatan 12430n Solar Power Virginia 22202, USA 15 Blue Street, North Sydney Tel 62.21.2782.8378 Hanwha Techwin Security Upper Penthouse, Wisma RKT No. 2 Tel 1.804.929.6746 Hanwha NSW 2060, Australia Hanwha Life Insurance Fax 62.21.2782.8643 Vietnam Co., Ltd. Jalan Raja Abdullah Advanced Materials Tel 61.2.8363.9888 Co., Ltd. Plot O-2, Que Vo Industrial Zone Off Jalan Suitan Ismail 50300 Hanwha International America LLC Fax 61.2.8363.9889 Tokyo Representative Office Hanwha Corporation (Expansion area), Nam Son Kuala Lumpur, Malaysia Peru S.A.C. 4400 Northpark Drive 7th Floor, Hanwha Building, 10-1 Taiwan Branch commune, Bac Ninh city Tel 60.3.83.15.00.00 Av.Javier Prado Este 560 Off. 2003 Opelika, AL 36801, USA Hanwha America Shiba 4-chome, Minato-ku 8F-4, 207, Tun-Hwan Road Bac Ninh province3, Vietnam Fax 60.3.83.20.26.60 San Isidro. Lima-Peru Tel 1.334.741.7725 Development Inc. Tokyo, Japan 108-0014 Taipei, Taiwan Tel 84.02.2222.0860 Tel 51.637.2390 Fax 1.334.741.7796 225 N. Columbus Drive, Suite 100 Tel 886.22.547.3355 Hanwha Q CELLS Chicago, IL 60610, USA Acropark Golf Corp. Fax 886.22.546.9955 Hanwha Techwin (Thailand) Co., Ltd. Hanwha Resources • Shelby Plant Tel 1.312.469.8093 Tonegou 95, Kinkaitso, Nagasakisi Automation Vietnam 5F, 87 M.Thai Tower All (Canada) Ltd. 925 Washburn Switch Road Fax 1.312.255.8280 Nagasakiken, Japan Hanwha Corporation Co., Ltd. Seasons Place, Wireless Road 1200 Waterfront Centre Shelby, NC 28150, USA Tel 81.95.884.3737 Yangon Representative Office 7floor - VNPT Building, Lumpini Pathumwan 200 Burrard St. Tel 1.704.434.2271 Hanwha Hawaii, LLC Fax 81.95.884.2535 No.33 (A), Pyay road, 7 mile 33 Ly Thai To street, Bac Ninh city Bangkok 10330, Thailand PO Box 48600 Vancouver, Canada Fax 1.704.434.7465 841 Bishop St. Suite 1601 Mayangone Township, Yangon Bac Ninh province, Vietnam Tel 66.2.6543181 BC V7X 1T2 Honolulu, Hawaii, USA Myanmar Tel 84.96.880.7191 Fax 66.2.6543182 • Monroe Plant Tel 1.80.469.4875 Tel 95.01.664.335 Hanwha Mining Services 1530 E Front St. Monroe Hanwha Techwin Hanwha Q CELLS GmbH Chile SPA MI 48161, USA Hanwha Canada Hanwha Corporation Middle East FZE Representative Office Alonso de Cordova 5870, floor 7th, Tel 1.734.457.5600 Development Jakarta Representative Office JAFZA View LOB 18, 20th Floor 9 Daphna St. Modiin 71705, Israel office 707 Las Condes, Santiago, Fax 1.734.457.9894 2860 Innovation Drive London Sequis Center 9th Fl. JL. Jend. Jabel Ali Free Zone, Dubai, UAE Tel 972 .77.915.9192 Chile Ontario, Canada Sudirman 71 Jakarta 12190 Tel 971.4.447.8901 Fax 972.8.975.9192 Tel 56 2 2993 7546 Hanwha Indonesia Fax 971.4.447.8666 Advanced Materials Hanwha Life Investment Tel 62.21.520.5815 Hanwha Q CELLS Corp. Hanwha Mining Services Mexico S. De R.L. De C.V. (USA) Ltd. Fax 62.21.520.5810 Hanwha Power Systems New Delhi Liaison Office Australia Pty Ltd. Prolongación Avenida Tecnológico Suite 2860, 575 Lexington Avenue Service Middle East LLC Office No. 434, Level 4, Rectangle 1 Level 9, 132 Arthur Street, North #1345 Fraccionamiento Monterrey New York, NY 10022, USA Hanwha Corporation P.O.Box 2621, 5th Floor Guardian Commercial complex D.4 Sydney, NSW 2060 Technology Park Ciénega de Tel 1.201.308.7944 Ho Chi Minh Towers, Danet Abu Dhabi, U.A.E Saket, New Delhi, India 110017 Tel 61 416 770 529 Flores, NL. 65550, Mexico Fax 1.212.308.7502 Representative Office Tel 971.4.447.8610 Tel 91.11.6654.4759 Tel 52.81.5000.9243 Unit 704 , 7F Sailing Tower, 111A Fax 971.4.447.8666 Fax 91.11.6654.4052 Hanwha Hanwha Life Pasteur Street, District 1 Machinery America Inc. Hanwha Q CELLS New York Representative Office Ho Chi Minh City, Vietnam Hanwha Chemical Hanwha E&C 9750 South Oakwood Park Drive America Inc. Suite 2860, 575 Lexington Avenue Tel 84.8.3822.7301 Malaysia Sdn. Bhd. Iraq Representative Office Franklin, WI 53132, USA 300 Spectrum Center Drive New York, NY 10022, USA Fax 84.8.3822.7302 22.04 Level 22 Menara Citibank Harlow Riverside, Villa 775 Tel 1.414.421.2300 Suite 1250, Irvine, CA 92618, USA Tel 1.212.308.3690 165 Jalan Ampang Street 32, District 925, East Karrada Tel 1.949.748.5996 Fax 1.212.308.7502 Hanwha Corporation 50450 Kuala Lumpur Malaysia Baghdad, Iraq Hanwha TechM USA LLC Manila Representative Office Tel 603.2161.8001 Tel 82.2.729.4150 1500 East Highwood, Pontiac Hanwha Q CELLS Hanwha Asset Management Unit No.1202 Trade and Financial MI 48340, USA USA Corp. (USA) Ltd. Tower, 7th Ave., corner 32nd St., Hanwha Chemical Hanwha Saudi Tel 1.248.588.1242 300 Spectrum Center Drive 575 Lexington Avenue, Suite 2860, Fort Bonifacio, Global city, (Thailand) Co., Ltd. Contracting Co., Ltd. Fax 1.248.588.1246 Suite 1250, Irvine, CA 92618, USA NY, NY10022, USA Taguing, Philippines www.hanwhath.com Delmon Building M Floor Tel 1.949.748.5996 Tel 1.212.313.6861 Tel 63.2.812.1366 377 Moo 17, Bangna-Trad Road Prince Sultan Road Al-Khobar Universal Bearings LLC Fax 63.2.946.2837 Bangsaothong, Bangsaothong Kingdom of Saudi Arabia 431 N Birkey St. 174 Power Global Corporation World Corporation Samut Prakan 10540, Thailand P.O.Box 31156 Al-Khobar 31952 Bremen, IN 46506, USA 300 Spectrum Center Drive P.O. Box 500066 SnP World Networks DMCC Tel 66.2.315.3204 Tel 82.2.729.5824 Tel 1.574.546.2261(265) Suite 1250, Irvine, CA 92618, USA Saipan, MP 96950, USA Unit 2408, JBC5, Cluster W, Fax 66.2.315.3591 Tel 1.949.748.5996 Tel 1.670.234.5900 Jumeirah Lakes Towers, P.O. Box Hanwha Techwin America Fax 1.670.234.5909 643730, Dubai, UAE 500 Frank W. Burr Blvd. Teaneck Tel 82.2.729.4783, 971.4.447.3707 NJ 07666, USA Tel 1.877.213.1222 118 Fax 1.201.373.0124 119 EUROPE Hanwha Petrochemical AFRICA Europe Branch Hanwha Europe GmbH Kölner Straße 10b, 65760 Hanwha Corporation www.hanwha.de Eschborn, Germany Nairobi Representative Office Kolner Strabe 10 Tel 49.6196.779.5217 Kamirembe Place, 1st Floor, Room 2, 65760 Eschborn, Germany Ring Road,Kilmani, Nairobi, Kenya Tel 49.6196.5016.41 Hanwha Tel 254.774.592.169 Fax 49.6196.5016.90 Advanced Materials Europe, s.r.o. Hanwha Corporation Priborska 208, 739 42 Frydek Turkey Branch Mistek Chlebovice, Czech Republic Curtis Plaza 18 Wolska Str. Tel 420.552.304.608 02-675, Warsaw, Poland Fax 420.552.304.619 Tel 48.660.282.940 Hanwha Hanwha Corporation Advanced Materials Istanbul Representative Office Germany GmbH Maslak Mah. A.O.S 55 Sk.No:2 42 Industriestraße 27 Maslak A Blok D/228 (904) 92345 Dietfurt, Germany İstanbul, Turkey Tel 49.8464.6423.0 Tel 90.212.481.4271 Fax 49.8464.6423.44 Fax 90.212.482.7987 Hanwha Q CELLS GmbH Hanwha Europe GmbH www.q-cells.com Budapest Representative Office Sonnenallee17-21 Dayka Gabor U.3, 06766 Bitterfeld-Wolfen, Germany Rubin Business Center RM 204 Tel 49.3493.6699.0 1118, Budapest, Hungary Fax 49.3494.6699.199 Tel 36.1.319.3237 Fax 36.1.319.3234 Hanwha Q CELLS Berlin Representative Office Hanwha Corporation Lorenzweg 5, 12099 Athens Representative Office Berlin, Germany Rizariou 2A and Mikras Asias 66 Tel 49.3493.6699.0 Chalandri, Athens 15233, Greece Fax 49.3494.6699.23000 Tel 30.210.685.8280 Fax 30.210.685.8240 Hanwha Q CELLS France Office Hanwha Corporation Immeuble le CALYPSO Moscow Representative Office 25, Rue de la petite Duranne 5th floor, 7, Bolshaya 13100 AIX EN PROVENCE, France Serpukhovskaya street, Moscow, Tel 33.6.46.88.48.18 Russia Tel 7.495.602.0303 Hanwha Q CELLS Fax 7.495.662.3003 UK Office Level 6, City Tower Hanwha Techwin 40 Basinghall St. Europe Ltd. London EC2V 5DE, UK Heriot House Heriot Road Tel 44.7717.538494 Chertsey Surrey KT16 9DT, UK Hanwha Q CELLS Tel 44.0.1932.82.8100 Italy Office Fax 44.0.1932.82.8101 Via Leonardo Da Vinci 12 39100 Bolzano, Italy Hanwha Power Systems Tel 49.3494.6699.0 Milan Branch Fax 49.3494.6699.199 Via de Vizzi 93/95, Cinisello Balsamo 20092, Milan, Italy Hanwha Q CELLS Turkey Tel 39.02.8410.2196 www.q-cells.com Ayazağa Yolu Hanwha Power Systems Eski Büyükdere Cad. No. 7 Moscow Office Giz 2000 Plaza 206, 40-4, Bolshaya Ordynka Str. Maslak - Istanbul, Turkey BC Legion-I, Moscow 119017 Tel 90.(0).212.290.7200 Russia Fax 90.(0).212.290.7202 Tel 7.499.750.1733 Hanwha Life Co., Ltd. 30 Stamford St, South Bank London SE1 9LQ, UK
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