November 30, 2024

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Kim Dong-kwan, CEO of Hanwha Solutions (Hanwha)

Kim Dong-kwan, the eldest son of Hanwha Group Chairman Kim Seung-youn, has been tentatively promoted to the group’s vice chairman, the group said Monday, in a decision seen as the conglomerate accelerating a father-to-son leadership transfer.

The decision came about a year after the 38-year-old became the CEO of Hanwha Solutions, the group’s company with business in multinational energy services, petrochemical and real estate in September 2021.

According to the announcement, Kim has also been tapped to take the CEO position at Hanwha Corporation and Hanwha Aerospace. It said the Hanwha heir will play the role of realizing the chairman’s management vision as the group pushes for future businesses as well as strengthening the responsibility of environmental, social and governance factors as an important shareholder. On top of the promotions, Kim will continue to stay on as the CEO of Hanwha Solutions.

Hanwha said Kim’s promotion to vice chairman was in recognition of his proven expertise in business strategies and global capabilities, as he has actively discovered future growth engines and invested in them. The group added that Kim played a big role in the growth of Hanwha Solutions and Q Cell as market leaders in the US and Europe.

Along with Kim’s promotion, Hanwha also announced internal decisions to welcome new CEOs and position upgrades at nine subsidiaries, including Hanwha Engineering and Construction and Hanwha H2 Energy.

The tentative promotions will be finalized once they are approved at each company’s general shareholders’ meeting and board of directors meeting.

By Kan Hyeong-woo (hwkan@heraldcorp.com)