Investor optimism builds around new holding firm, governance overhaul
Hanwha Group is set to launch a new holding company in August after securing preliminary listing approval from the Korea Exchange, as part of a broader governance overhaul.
The exchange said Thursday that the proposed entity, tentatively named Hanwha Machinery & Services Holdings, meets Kospi listing requirements. The company is scheduled to be established on Aug. 1 and listed on Aug. 25.
The new entity will be spun off from Hanwha Corp. and will oversee a portfolio of tech and lifestyle affiliates, while leading new investments.
Its tech portfolio will include Hanwha Vision, Hanwha Momentum, Hanwha Semitech and Hanwha Robotics, alongside lifestyle units such as Hanwha Galleria, Hanwha Hotels & Resorts and Ourhome.
The restructuring, approved by Hanwha’s board in January, is part of a broader effort to streamline governance as Chairman Kim Seung-youn’s three sons move closer to succession. The spinoff is expected to be finalized in July following the approval of shareholders in June.
Kim Dong-seon, the chairman’s youngest son, is set to lead the new holding company. He recently stepped down from his role overseeing Hanwha Corp.’s overseas construction business to focus on the launch.
Investor sentiment around the restructuring lifted shares of Hanwha Galleria, which surged to the daily limit Friday, with both common and preferred shares hitting their upper trading bands.
By Im Eun-byel (silverstar@heraldcorp.com)
