Hanwha launches intermediate holding firm for AI, security units

Hanwha Industrial Solutions CEO Ahn Soon-hong, third from left, poses with other company officials during an event celebrating the company's founding held at the Plaza Hotel in Seoul, Monday. Courtesy of Hanwha Industrial Solutions

Hanwha Group on Monday launched Hanwha Industrial Solutions as the group’s intermediate holding firm for artificial intelligence (AI), security solutions and semiconductor manufacturing equipment businesses.

The new holding firm held an event to celebrate its founding at a hotel the same day and appointed Hanwha Vision CEO Ahn Soon-hong as its CEO and board chair.

Hanwha Industrial Solutions is an intermediate holding company spun off from Hanwha Aerospace. It encompasses the security, chip mounter, and semiconductor equipment businesses formerly under Hanwha Aerospace.

Industrial Solutions controls Hanwha Vision and Hanwha Precision Machinery as fully-owned subsidiaries.

Hanwha Industrial Solutions said the two subsidiaries will be managed independently to maximize their efficiency and corporate values.

Hanwha Vision is a vision processing and cybersecurity technology company, operating five overseas subsidiaries and 15 offices across the United States, Europe, Vietnam, the Middle East and Mexico. The company is expanding its business portfolio by integrating AI and cloud technologies into its video security solutions.

Hanwha Precision Machinery manufactures semiconductors and other precision machinery equipment. The company now develops chip-producing equipment, including a plasma-enhanced chemical vapor deposition system and an atomic layer deposition system.

“We will lead the market by leveraging our distinguished technology and global competitiveness, delivering greater value to our customers,” Ahn said.

Hanwha Industrial Solutions is set to be listed on the stock market on Sept. 27 and plans to merge with Hanwha Vision on Jan. 1, 2025.