Hanwha System will invest in Hanwha Shipping, the U.S. shipping subsidiary of Hanwha Ocean, through its U.S. subsidiary.
Hanwha System announced on the 25th that it had decided to acquire 62,000 shares of HS USA Holdings for 84.63 billion won. Hanwha System plans to participate in the rights offering that HS USA Holdings will conduct and will acquire all of the new shares.
Hanwha System stated that the purpose of the stock acquisition is to participate in a capital increase to secure funds for acquiring equity in the subsidiary (HS USA Holdings).
HS USA Holdings is reported to invest in Hanwha Shipping using funds procured from its parent company. Hanwha Shipping is a shipping company that Hanwha Ocean established in the U.S. in April of last year.
Hanwha System is expected to supply cybersecurity solutions and other services to Hanwha Shipping's vessels.