Hanwha Group's third son, Vice President Kim Dong-sun, is leaving Hanwha Corp. to concentrate his management focus on the group's tech and life businesses.
According to industry sources on Tuesday, Kim stepped down as head of the overseas business division at Hanwha Corp.'s construction unit, effective March 31. The departure comes about two years after his appointment to the position in January 2024. He will retain his existing stake in Hanwha Corp.
The resignation is being interpreted as part of a role reshuffle tied to the group's spin-off. Hanwha Corp. earlier decided to keep its defense, shipbuilding, energy, and financial businesses under the surviving entity, while separating its tech and life operations into a newly established holding company. Kim is set to lead the new entity, tentatively named Hanwha Machinery & Services Holdings.
The move also clarifies the business structure among the third-generation heirs of the founding family. Vice Chairman Kim Dong-kwan oversees core businesses such as defense and energy, President Kim Dong-won leads the financial arm, and Vice President Kim Dong-sun is taking independent charge of the tech and life domain, centered on retail, food service, and robotics.
Kim has recently been accelerating related businesses, including AI collaboration between Hanwha Vision and Hanwha Robotics, as well as the expansion of Hanwha Foodtech's food service operations. Expanding new businesses that combine technology with retail and leisure-based operations is seen as a key pillar.
"With the spin-off and the establishment of the new holding company currently under way, this decision was made so that he can concentrate on the related work," a Hanwha official said.
