In early trading on the 15th, Hanwha Galleria hit the upper price limit. This is seen as the result of investor sentiment flowing into Hanwha Galleria, led by Vice President Kim Dong-Sun, after Hanwha announced a spin-off the previous day.
As of 9:23 a.m. that day on the Korea Exchange, Hanwha Galleria was trading at 2,105 won, up 483 won (29.78%) from the previous session. Hanwha Galleria preferred shares were also trading at 8,060 won, up 1,860 won (30%) from the previous session.
Earlier, Hanwha Co. said on the 14th that it will carry out a spin-off to create a new holding company, Hanwha Machinery & Services Holdings, comprising the tech and life institutional sector, while the surviving entity will include the defense and shipbuilding/marine, energy, and finance institutional sector.
Hanwha Machinery & Services Holdings will be led by Kim Dong-Sun, the third son of Hanwha Group Chairman Kim Seung-youn and a vice president at Hanwha Galleria. Tech affiliates such as Hanwha Vision, Hanwha Momentum, Hanwha Semitek, and Hanwha Robotics, and life affiliates such as Hanwha Galleria, Hanwha Hotels & Resorts, and OURHOME will come under the new holding company.
With this partitioning, the newly established Hanwha Machinery & Services Holdings plans to raise its growth potential through swift decision-making and efficient capital investment. Under the leadership of the new holding company, it will carry out strategic collaboration and investment between the tech institutional sector and the life institutional sector to foster a "physical AI" solutions business in the food and beverage (F&B) and retail domains as a next-generation growth engine.
To that end, it has selected three core areas—Smart F&B, which uses AI technology, robots, and automation equipment; "smart hospitality," which applies advanced technology to customer service such as smart control systems; and "smart logistics," an intelligent logistics system—and is establishing strategies to preempt the market.