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Hanwha Building in Janggyo-dong, Seoul. (Photo = Hanwha Group) |
[Alpha Biz= Kim Jisun] Hanwha Group is making significant new investments into Hanwha Futureproof, the U.S.-based vehicle established to drive the conglomerate’s expansion in the American market.
On November 24, Hanwha Ocean announced that it will participate in a capital increase for its U.S. subsidiary, Hanwha Ocean USA Holdings, with an investment of 502 billion KRW.
Hanwha Systems also disclosed plans to invest 427.9 billion KRW into its subsidiary, Hanwha Systems USA Corporation, while separately injecting 88.3 billion KRW into HS USA Holdings.
Hanwha Solutions will contribute 285.7 billion KRW to Hanwha Qcells Americas Holdings. The funds will be allocated to Hanwha Defense & Energy for the acquisition of Hanwha Futureproof shares currently held by Hanwha Solutions.
Hanwha Futureproof was established in March 2023 as a joint venture between Hanwha Aerospace and Hanwha Solutions, each contributing 25 billion KRW. The entity was created to facilitate overseas equity investments and M&A activities as part of Hanwha Group’s strategic global expansion.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
