Hanwha M&S Launches as 'Tech & Life' Holding Company

Hanwha Machinery & Service Holdings (Hanwha M&S), which brings together Hanwha Group's tech and life divisions, has officially launched.

Hanwha M&S held a launch ceremony at The Plaza in Jung-gu, Seoul, on the 3rd and officially declared the establishment of the company, it said the same day. Kim Dong-sun, president of the Future Strategy Division, also attended the ceremony. Kim, who had previously overseen the future vision of affiliates in the tech and life divisions, will move to the holding company to draw up blueprints for its member companies and focus on identifying future growth engines.

Hanwha M&S, the newly established holding company, is composed of the Tech and Life Solutions divisions. The Tech division includes Hanwha Vision (489790), Hanwha Semitech, Hanwha Momentum, and Hanwha Robotics, while the Life division comprises Hanwha Galleria (452260), Hanwha Hotels & Resorts, and Ourhome. The holding company oversees a total of 57 affiliates, including overseas corporations and second-tier subsidiaries. As of the end of last year, its consolidated revenue stood at approximately 6 trillion won, with total assets of 11.3 trillion won. Among these, Hanwha Vision and Hanwha Galleria are listed on the Korea Exchange's main board.

Alongside the launch ceremony, Hanwha M&S held a board meeting the same day and approved key agenda items, including the appointment of management such as the CEO, the establishment of various committees, and the enactment of internal regulations. Kim Hyung-jo took the helm as the first CEO. Born in 1968, Kim joined Hanwha Group in 1994 and is a veteran with more than 30 years of diverse field experience, ranging from business strategy development to site operations. He served as CEO of Hanwha Hotels & Resorts for four years from 2021. "We will build a new management system that maximizes expertise, reinventing ourselves as a strong and efficient organization," Kim said. "We will strive to ensure that our growth leads to the development of the nation and society."

The newly established Hanwha M&S plans to list on the Korea Exchange's main board on the 25th. "The resolution of the conglomerate discount is expected to accelerate investment and business expansion in the tech and life divisions," a Hanwha M&S official said. "We expect that both divisions will soon become another core affiliate within the group."