Latest news with #Hanwha
![[Photo News] Hanwha Ocean's safety challenge](/_next/image?url=https%3A%2F%2Fwimg.heraldcorp.com%2Fnews%2Fcms%2F2025%2F06%2F20%2Fnews-p.v1.20250620.3b290a3ff2c64eac96569fd89075e76c_T1.jpg&w=3840&q=100)
![[Photo News] Hanwha Ocean's safety challenge](/_next/image?url=https%3A%2F%2Fall-logos-bucket.s3.amazonaws.com%2Fkoreaherald.com.png&w=48&q=75){kind=small}
Korea Herald
12 hours ago
- Business
- Korea Herald
[Photo News] Hanwha Ocean's safety challenge
Top participants of Hanwha Ocean's in-company safety quiz event for foreign national employees pose for a photo on Thursday at the company's Geoje shipyard in South Gyeongsang Province, alongside Hanwha and local labor officials, including Lee Gil-seop (sixth from right), vice president of Hanwha Ocean, and Kim In-cheol (eighth from right), head of the Tongyeong District Employment and Labor Office. Around 200 foreign employees took part in the event, testing their knowledge of workplace safety and Korean culture. (Hanwha Ocean)
Korea Herald
13 hours ago
- Entertainment
- Korea Herald
Hanwha Life's esports fest sells out in 4 minutes in Ho Chi Minh
Hanwha Life, a leading insurance company in Korea, on Friday announced the conclusion of a successful 2025 Hanwha Life Esports Global Fan Fest in Ho Chi Minh City, Vietnam, on Wednesday, drawing 2,500 fans in a sold-out event. Marking its second year, the fan fest is part of the company's global branding strategy to engage younger audiences through esports. Last year, over 14,000 fans applied for only 1,500 seats, demonstrating the brand's rising recognition in the Vietnamese market. This year's event expanded its seating by 150 percent and added paid ticketing, yet all tickets sold out within four minutes. Hosted by Minh Nghi, a popular interviewer in the Vietnam Championship Series League, the event featured Hanwha Life Esports' first-team roster, including players such as Choi 'Zeus' Woo-je, Han 'Peanut' Wang-ho and Park 'Viper' Do-hyeon. Divided into three sessions, the program included player introductions, interactive games such as action quizzes, and a special 2v2 match in which fans teamed up with players after a pre-event artificial intelligence bot competition. The event concluded with a group photo session and a fan signing event for 100 selected fans. 'We expanded the scale and content this year, and we are grateful for the enthusiastic support from Vietnamese fans. We will continue our efforts to grow global engagement," said a Hanwha Life Esports official. The initiative aligns with Hanwha Life's long-term vision to build brand loyalty among future generations outside Korea, especially amid a shrinking domestic youth population.
Korea Herald
2 days ago
- Business
- Korea Herald
Korean shipbuilding rivals unite for Poland's W8tr submarine bid
HD Hyundai Heavy Industries and Hanwha Ocean, maritime-to-defense competitors, are forming an alliance to win Poland's 8 trillion won ($5.8 billion) worth submarine bid, aiming to resolve their decades-long rivalry to boost global exports. According to industry sources Wednesday, the two companies are seeking to land Poland's Orka Project by presenting themselves as a South Korean consortium, marking their first partnership in pursuing a large-scale export contract. The project includes construction and maintenance, repair and operations (MRO) of three 3,600 metric ton submarines for the Polish Navy. While project details remain undisclosed, industry insiders anticipate that Poland will select a preferred bidder by the second quarter and make a final decision by September. Although HD Hyundai and Hanwha had already submitted separate proposals in November 2023 before allying this year, industry insiders suggest that the Polish government might view their unified effort, which combines the strengths of both companies, as enhancing technological competitiveness. 'HD Hyundai Heavy Industries and Hanwha had proposed 2,300-ton and 3,000-ton vessels, respectively, to Poland. This dual approach can address the various needs of the Polish government, increasing the likelihood of Korea securing the contract on a national level,' said a source on condition of anonymity. In February, HD Hyundai and Hanwha signed a memorandum of understanding to establish a joint team with the state-run Defense Acquisition Program Administration for ship export projects. Under this agreement, HD Hyundai will lead surface ship export initiatives, while Hanwha will focus on submarine exports, with each company supporting the other. In the following month, they submitted a proposal to secure a 20 billion won Canadian submarine project. The rival shipyards' belated partnership comes after Korea's unsuccessful bid for Australia's new frigate project last year. HD Hyundai and Hanwha pursued the project separately, only to lose to unified teams from Japan and Germany. DAPA reportedly mediated the ongoing feud between the two companies over the 8 trillion won next-generation Korean destroyer (KDDX) bid, urging collaboration to increase their chances of landing global export bids. Despite the Korean government's efforts, the shipbuilders maintain their competitive standoff on the Korean Navy's advanced warship development project. HD Hyundai, the primary contractor selected by DAPA for the basic design of the KDDX in 2020, faced a setback when Hanwha filed a police complaint in March, alleging that HD Hyundai executives were involved in leaking Hanwha's confidential materials related to the KDDX bid. In November, Hanwha withdrew the complaint, citing 'mutual support and cooperation' for the country's shipbuilding industry. However, the company did not retract its application for the Ministry of Trade, Industry and Energy's KDDX contractor designation process this year. While DAPA oversees the project, the industry ministry is in charge of officially designating the contractor. DAPA postponed the selection process multiple times, from April until after the presidential election. 'Although collaborating as a joint team for global exports is a reasonable strategy for both companies, with growing maritime security threats from North Korea, it is vital for the government to prioritize the rapid deployment of advanced warships like the KDDX,' the source said. 'The industry calls for swift and decisive action to achieve the fastest possible operations of those ships.'
Korea Herald
10-06-2025
- Business
- Korea Herald
Hanwha wins US approval to acquire full stake in Austal
Hanwha Group said Tuesday it has received approval from the US government to acquire up to 100 percent of shares in Austal Limited, a global maritime defense company headquartered in Australia. The clearance was granted on Friday by the Committee on Foreign Investment in the United States, the US agency responsible for reviewing the national security implications of foreign investments. Although Hanwha initially sought to increase its stake in Austal from 9.9 percent to 19.9 percent, the US government authorized the group to acquire up to full ownership. CFIUS stated there were "no unresolved national security concerns" regarding the proposed investment. Hanwha's acquisition aligns with its broader plan to integrate its advanced shipbuilding technologies and defense capabilities with Austal's global operations. 'This approval marks an important milestone that reflects the trust and support we've earned from the US government,' said Michael Coulter, CEO of Hanwha Global Defense. 'It recognizes our technological capabilities and performance in collaboration with the US and its allies. By combining Korean shipbuilding expertise with the US defense industry, we aim to strengthen the competitiveness of American shipbuilding.' The company is also awaiting regulatory approval from Australia's Foreign Investment Review Board to increase its stake in Austal. If successful, Hanwha aims to expand joint projects in both the US and Australian defense markets while contributing to the long-term competitiveness of the global shipbuilding industry.
AU Financial Review
10-06-2025
- Business
- AU Financial Review
Hanwha says it has the green light to buy all of Austal, if it wants
Hanwha says it has been given approval by foreign investment officials in the United States to buy out the entirety of Austal, the ASX-listed shipbuilder that specialises in defence and has a major facility in Alabama. But Austal, which is backed by the billionaire Forrest family and has long pushed back against Hanwha's interest in acquiring the company, accused the Korean conglomerate of misrepresenting the approvals.
