Hanwha Group's machinery and equipment affiliate Hanwha Momentum said on the 2nd that it has named Hong Soon-jae (photo, 52) as its new CEO.
Hong, the new chief executive, earned a master's degree from the Korea Advanced Institute of Science and Technology (KAIST) Graduate School of Business. Hong joined Samsung Aerospace (now Hanwha Vision) in 1996 and served as head of management support and head of global business operations. Most recently, Hong worked on Hanwha Vision's Future Innovation Task Force (TF), where Hong was in charge of identifying future growth engines for Hanwha Group's Tech Solution institutional sector.
A Hanwha Momentum official said, "With intensifying technology competition and rising production expense, differentiated change and innovation are needed," adding, "Based on a strong understanding of and expertise in the machinery industry, we expect Hong to identify new growth drivers for the company."
Hanwha Momentum plans to diversify its business portfolio into markets that can create high value-added, with Hong, the new chief executive, at the center. Alongside this, the company will further enhance the competitiveness of its existing flagship businesses, including secondary battery equipment and logistics automation.
Hanwha Momentum is accelerating the development of next-generation process technologies, including all-solid-state batteries, as seen last year with the launch of a new process research lab within its secondary battery research and development (R&D) center. Based on this, the company expects to deliver results across several fields, including glass substrates, energy storage systems (ESS), and Humanoid Robot.
In particular, with the spin-off of Hanwha Group's Tech Solution institutional sector and Life Solution institutional sector underway recently, the company plans to create synergy through collaboration with various institutional sectors going forward. A Hanwha Momentum official said, "While strengthening the fundamentals of our existing flagship businesses, we will expand our business scope through continuous development of new technologies and lead the global market."