Hanwha patriarch's eldest son cements his status as sure heir

By Lim Chang-won Posted : December 27, 2019, 16:59 Updated : December 27, 2019, 16:59

[Courtesy of Hanwha Group]


SEOUL -- The eldest son of Hanwha Group chairman Kim Seung-yeon capped an important new post to become a sure heir to a major South Korean conglomerate with diversified holdings stretching from explosives and military equipment to financial services in a hereditary third-generation succession of group leadership.

Hanwha Corp. established a new strategic division headed by Kim Dong-kwan, 36, who was promoted in early December as the vice president of Hanwha Q Cells and Advanced Materials, the group's solar panel maker. The group said the strategic section would set the direction of major businesses, explore new markets and find growth engines.

"The strategic section will establish and implement mid- and long-term strategies that will focus on global growth of each business and enhancement of future corporate values," Hanwha Corp. CEO Ok Kyung-seok said, adding the change is aimed at making a preemptive and quick response to the rapidly changing global business environment and external uncertainties.

The eldest son, who holds 4.4 percent in Hanwha Corp., has been trained as heir to the throne. Like other offsprings of South Korea's family-run conglomerates, known as chaebol, Kim Dong-kwan, has quickly climbed the corporate ladder since he joined the group in 2010 and moved to its solar business unit a year later.

As a Harvard University graduate, the eldest son has outshined two younger brothers, Kim Dong-won and Kim Dong-sun, who were once involved in shameful incidents and misconduct.

 
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