April 20, 2024

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[THE INVESTOR] Hanwha Group Chairman Kim Seung-youn met with General Electric Chairman Jeffrey Immelt at the company’s headquarters in Seoul on March 13 to seek new business partnerships, the company said on March 14. 

According to Hanwha, Kim and Immelt talked about seeking new growth engines by adding value to the manufacturing sector based on industrial internet technologies. 

Hanwha Group Chairman Kim Seung-youn (right) meets with General Electric Chairman Jeffrey Immelt on March 13 at Hanwha’s headquarters in Jung-gu, Seoul. Hanwha.

The two heads also discussed how to further cooperate on the aero engine and gas turbine sectors, which Hanwha Techwin and GE have partnered on for more than 30 years, and how to apply the industrial Internet of Things into the sectors. 

They also sought possible cooperation in the solar energy, Hanwha said. 

“GE’s creative initiatives, including Digital Industrial Company, is very impressive. We hope to continue to partner with GE to develop new business models based on industrial internet,” said Kim. 

Hanwha Techwin, the aircraft engine manufacturing unit of Hanwha Group, and GE have partnered in the aircraft engine business since 1980, working on Korea’s main combat planes, the F-5, F-15K, T-50 and Surion. 

GE, which was selected as an engine supplier for Korea’s fighter project KF-X in June of last year, is expected to cooperate with Hanwha Techwin for around 240 engines to be installed in Korean Air Force fighters.

By Shin Ji-hye/The Korea Herald (shinjh@heraldcorp.com)