According to Yonhapinfomax, on August 1, Hanwha Group completed a personnel restructuring, spinning off tech and lifestyle divisions into newly established Hanwha Machinery & Service Holdings (Hanwha M&S) and transferring approximately 900 billion won in assets. The split transfers lifestyle subsidiaries including Hanwha Vision, Hanwha Momentum, Hanwha Galleria, Hanwha Hotels & Resorts, and Auroume to the new entity.
Following the restructure, Hanwha's issued shares decreased from 70.5 million to 53.33 million shares, while the company retained core assets including Hanwha Aerospace and Hanwha Q Cells. Though Hanwha's total assets declined from 11.2 trillion to 10.3 trillion won, analysts note the remaining entity's value concentration increased substantially. Daishin Securities assessed via sum-of-the-parts valuation that Hanwha's retained assets represent 93.3% of total net asset value versus only 6.7% for the spin-off—outpacing the 76-24 book value split ratio, suggesting potential stock revaluation.
