SEOUL — Hanwha Energy Corporation, owned by the sons of Hanwha Group Chairman Kim Seung-youn, announced on Friday its plan to purchase an additional 8 percent stake in Hanwha Corp., the conglomerate's holding entity. This strategic acquisition involves a tender offer of approximately 180 billion won (US$131 million) for 6 million shares, aiming to strengthen the family's control over the business group.
According to Yonhap News Agency, The company stated that this move would increase Hanwha Energy's ownership in Hanwha Corp. to 17.7 percent, positioning it as the second-largest shareholder behind the chairman. This acquisition is seen as a pivotal part of the group's broader strategy to transition leadership to Kim's eldest son, Dong-kwan, who is currently the vice chairman.
The tender offer, which will conclude on July 24, has already influenced the market positively, with shares of Hanwha Corp. rising 4.31 percent following the announcement. This performance notably exceeds that of the broader Korea Composite Stock Price Index (KOSPI), which gained 1.01 percent, reflecting investor confidence in the firm's strategic direction under the evolving leadership structure.