Hanwha completes split, cementing three‑brother leadership structure

Hanwha Group’s temporary shareholders’ meeting on Jan. 15 approved an in‑kind split of its holding company. The split will take effect on Aug. 1, with a new listed entity – tentatively named Hanwha Machinery & Service Holdings – taking over the tech‑life businesses (machinery, robotics, semiconductor equipment, distribution, hospitality and food services). The remaining parent company will retain defense, shipbuilding, energy and finance operations.

The restructuring formalises the succession plan among the founder’s three sons: eldest brother Kim Dong‑kwan will head defense, shipbuilding and energy; second brother Kim Dong‑won will lead the finance arm; and youngest brother Kim Dong‑sun will run the newly created tech‑life unit. The new tech‑life holding plans to invest 4.7 trillion won through 2030 in facilities, R&D and M&A, targeting an average 30 % annual sales growth.

Analysts view the move as a way to eliminate the conglomerate discount, sharpen business focus on high‑growth, policy‑sensitive sectors, and solidify the three‑brother succession hierarchy within the group.