Hanwha Industrial Solutions announced on the 2nd that it will absorb and merge its subsidiary Hanwha Vision as of Jan. 1, 2025, changing its name to 'Hanwha Vision'.
The newly reborn Hanwha Vision plans to enhance management efficiency and global market competitiveness through expanded synergies among affiliates.
Previously, the two companies signed a merger agreement on Oct. 31, 2024, and finalized the name change at a special shareholder meeting on Dec. 13.
As a result of this merger, Hanwha Vision became an integrated corporation that has 100% ownership of Hanwha Precision Machinery and other overseas subsidiaries responsible for its own security business and semiconductor design.
A Hanwha Vision official said, “We will create various synergies through diverse cooperation among affiliates,” adding, “We expect the merger to significantly strengthen the financial stability of the entire group.”
Hanwha Vision leads the global security market in the United States, Europe, and Asia. It records annual sales of over 1 trillion won and a high operating profit margin in double digits based on advanced technology. Recently, it has been expanding its business areas with artificial intelligence (AI) and cloud-based security solutions, developing future growth engines.
With the establishment of the integrated corporation, the semiconductor equipment business of its key affiliate Hanwha Precision Machinery is expected to gain momentum. Hanwha Precision Machinery is focusing on developing advanced post-process equipment, including the TC bonder and hybrid bonder, which are essential for high-bandwidth memory (HBM) manufacturing.
A Hanwha Vision official noted, “Through the integrated corporation, not only will research and development be strengthened, but new investments will also be continuously made across various fields,” stating, “This will help us lead the global technology market.”