Hanwha Group carried out paid-in capital increases for the U.S. subsidiaries of key affiliates to expand its business in the United States.
On the 24th, Hanwha Systems disclosed that it will acquire an additional 29,070 shares of its U.S. subsidiary Hanwha Systems USA for 427.9 billion won and an additional 60,000 shares of HS USA Holdings, a U.S. subsidiary management company, for 88.3 billion won.
In addition, Hanwha Ocean will acquire an additional 3,410 shares of its U.S. affiliate Hanwha Ocean USA for 502.0 billion won, and Hanwha Solutions will acquire an additional 193,800 shares of Hanwha Qcells Americas Holdings, a U.S. solar energy solutions subsidiary, for 285.3 billion won.
Hanwha Group plans to use the "MASGA (Make American Shipbuilding Great Again)" project for Korea-U.S. shipbuilding cooperation as a springboard to expand its business in the United States into various fields, including the maritime industry and defense.
These businesses will be centered on Hanwha Futureproof, a U.S. investment company. Hanwha Futureproof is a joint venture established in 2023 by Hanwha Aerospace and Hanwha Solutions, created as a corporation for acquiring equity in overseas corporations and for mergers and acquisitions (M&A).
Hanwha Solutions has decided to transfer Hanwha Futureproof's equity to a newly established corporation, "Hanwha Defense & Energy." In addition, the U.S. subsidiaries of Hanwha Systems, Hanwha Ocean, and Hanwha Solutions will acquire equity in Hanwha Defense & Energy with the funds secured through this paid-in capital increase. The aim is for each affiliate to share equity and the corresponding responsibility and enter the U.S. market together. The large amount of cash secured through the new share issuance by Hanwha Defense & Energy will be used as business funding for Hanwha Futureproof.
A Hanwha Group official said, "With the expansion of the business scope of the U.S. investment company Hanwha Futureproof, Hanwha Systems, Hanwha Ocean, and Hanwha Solutions, which have entered the U.S. through Philly Shipyard, are participating together in the business."