Korea’s 7th largest corporation
Hanwha is one of the leading groups in the Korean economy, expanding its business to the world, including Vietnam. According to Business Korea, the group’s market cap is currently about 19 trillion won, up 21% in 2020 alone.
As the seventh largest corporation in Korea, Hanwha was established in 1952 as Korea Explosives, providing initial retail and financial services. Currently, the group has expanded its businesses across both geographic and investment scales.
In the chemical industry, Hanwha is growing into one of the world’s leading companies in oils, chemicals, composites and advanced materials. The Group also owns the world’s leading company in total solar solutions, with a presence in more than 40 locations around the globe: Germany, Italy, UK, Korea, Japan and the United States.
Hanwha is strengthening its presence in the aerospace industry, currently a trusted partner of global aircraft engine manufacturers such as GE, Pratt & Whitney, Rolls-Royce, and manufactures key missile components for South Korean space launch vehicles. In the mechatronic field, Hanwha is developing a range of products, such as precision robots, deep learning and AI, smart factories and imaging systems installed in orbital satellites.
In the financial sector, Hanwha is on track to become the leading financial services provider in Asia with a deep presence in emerging markets such as Vietnam, China and Singapore. With expertise gained from Korea’s second-largest non-bank finance business, Hanwha offers clients a comprehensive portfolio of services including insurance, securities and asset management.
|KN Cam Lam and Cam Lam VN solar power plants|
Hanwha Energy – Better energy for a better future
Established in 2007, with a diversified portfolio of cogeneration plants, solar power plants, and the world’s largest hydrogen fuel cell power plant, Hanwha Energy’s headquarters is located in Daesan Industrial Complex ( Korea) and is present in many countries in Asia, America, Australia and Europe. In addition, Hanwha Energy is also an independent power producer, providing operation and maintenance services, and developing new energy storage systems and smart energy management solutions globally.
Most recently, at the end of January 2021, the company partnered with the world’s leading energy giant, Total SE, to increase its presence in the United States. The company has entered into a joint venture with Total SE of France to build and operate solar power plants across the United States.
In addition to major renewable energy projects underway in various states of the United States, the company is developing a variety of energy projects in Japan, Turkey, India, and Spain and Australia.
By the end of 2019, Hanwha Energy cooperated with HDC Holdings Co. Ltd develops a 1.4 trillion won (1.21 billion USD) liquefied natural gas project in the coastal city of Tongyeong, South Korea, a leap forward, making Hanwha Energy a supplier leading energy solution provider with friendly generation ecosystem in this country.
In Vietnam, with the motto “Better energy for a better future”, Hanwha Energy Vietnam has operated the KN Cam Lam and Cam Lam VN solar power plants in Khanh Hoa province in 2019.
This is a co-investment project between the company and Long Thanh Golf Investment & Trading Joint Stock Company, built on an area of 135ha with a total investment of nearly VND 2,300 billion and total installed capacity of 100 MW for two plants.
This is also the largest solar power plant in Khanh Hoa province up to now, will provide about 158 million kWh/year to the national power system, meeting the electricity demand for about 5,000 households, contributing to reducing about 145,000 tons of CO2 emissions each year into the environment.
In addition, at the end of January 2021, the Government and many ministries, agencies in Vietnam had a meeting to consider the LNG Power Project in Quang Tri. The project, expected to scale up to USD 4.5 billion, has a capacity of 4,500 megawatts, is invested in by Hanwha Engergy and its partners.
With the criteria of sustainable development and social responsibility, in August 2020, Hanwha Group supported the supply of solar power systems and clean water systems, in order to provide electricity for domestic use through the solar energy system and safe drinking and domestic water sources through a water filtration system for people in Khanh Thuong commune, Ba Vi district (Hanoi city). The system has a capacity of 11.9 kW, helping to improve the quality of the water supply system, water filtration, solar power system, ensure and enhance the health of users in the area.
The leader of Hanwha Group said: Vietnam is identified as the most important base for the group to develop
and invest in other markets in the region.