Hanwha shareholders approve split, sharpening succession roadmap

Hanwha Corp., the holding company of Korea’s seventh-largest conglomerate Hanwha Group, won shareholder approval Wednesday for a corporate split to separate its core defense, shipbuilding, energy and financial businesses from its machinery and lifestyle operations. The restructuring into two entities is expected to give the group's third-generation heirs clearer control over their respective business areas while further solidifying the grip of Vice Chair Kim Dong-kwan, the eldest son of Hanwha G