“Hanwha will overcome a crisis with conviction and not compromising with trends and persistent tenacity write a new 100-year history.”
Hanwha Chmn. Kim Seung-youn of Hanwha Business Group made the remarks via the company’s in-house corporate broadcasting system after the business group celebrated the 72nd anniversary of its founding.
Each subsidiary of the business group held separate anniversary events, such as awarding long-serving employees’ prizes, to remind them of the business’s founding spirit: “Promoting National Prosperity by Doing Business.”
In his anniversary speech, Chmn. Kim said that every company has great difficulties amid harsh business conditions. He stressed the need to overcome them.
As for Hanwha Aerospace and Hanwha Systems in the defense industry business, Chmn. Kim said it was meaningful for them to make achievements, highlighting Hanwha Group’s conviction and its past history of challenging.
Hanwha Aerospace achieved its best-ever business performance last year, the first year of the merger with two other subsidiaries in the defense industry.
The company saw the defense industry business log 260.8 billion won in operating profit in the second quarter of 2924, a 1,089 percent year-on-year jump over the same period of the previous year.
In July, Hanwha Aerospace struck a deal of exporting K9 self-propelled howitzers worth 1.4 trillion won to Romania.
Hanwha Systems posted a 135 percent year-on-year surge in operating profit in the second quarter of the year. In July, the company is maintaining continued growth as it signed a contract to supply the Multi-Function Radar (MFR) for the MSAM-II (Cheongung-II), to Saudi Arabia.
Chmn. Kim emphasized ways of overcoming a crisis as a “great challenger” he alluded in his New Year’s messaged. He cited positive and aggressive response rather than waiting for currents, such as market cycles to change amicably since they are not forever.
Chmn. Kim did not hesitate to criticize the petrochemical and energy business divisions facing hard management times. He urged for looking back whether they rested on small successes and spearheading into markets through painstaking innovation.
Chmn. Kim stressed the need for the defense industry business to devote itself to exploring markets, such as R&D and localization strategies, not depending on transient success resulting geopolitical issues.
As for Hanwha Ocean and Hanwha Engine in the shipbuilding industry, Chmn. Kim urged for greater success by setting the goal of becoming a global ocean business leader.
In particular, Chmn. Kim emphasized safety. He said safety is the top value, and is more important than anything since Hanwha Business Group was established based on the gunpowder business.
Chmn. Kimd said the success built on anyone’s sacrifices is a success and he urged all the people, ranging from CEOs to staff members to give priority on safety.
Korea’s Hanwha team stages fireworks at the 2024 Seoul International Fireworks Festival, hosted by Hanwha Group, at the Han River Park area in Yeouido, Seoul, on Oct. 5.
Hanwha Group Hosts 2024 Seoul International Fireworks Festival
The 2024 Seoul International Fireworks Festival, hosted by Hanwha Group, was staged at the Han Rive Park area in Yeouido, Seoul, on Oct. 5.
The 2024 Seoul International Fireworks Festival, marking the 20th year, was attended by teams represented by three countries, including Hanwha.
The fireworks of five colors blossomed autumn skies, offering unforgettable memories to approximately 1 million spectators.
At the end of the 2024 Seoul International Fireworks Festival, Hanwha Chmn. Kim expressed hope bigger and wider fireworks would be shot up so that even one more people can be comforted and be in hope through fireworks.
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