Restructuring consolidates Kim Dong-kwan’s grip on Hanwha’s flagship defense, shipbuilding units
Hanwha Corp., the holding company of Korea’s seventh-largest conglomerate Hanwha Group, decided Wednesday to split into two holding entities.
Many believe the move seeks to clarify the management domains of three heirs and boost shareholder value by reducing the "conglomerate discount."
Hanwha’s board approved the physical spinoff earlier in the day, creating the new holding company Hanwha Machinery & Services Holdings, which will oversee the group's t
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