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Kim Dong-kwan, Vice Chairman of Hanwha Group |
[Alpha Biz= Paul Lee] Kim Dong-kwan, Vice Chairman of Hanwha Group, is estimated to have received approximately KRW 50 billion in dividends last year from Hanwha Energy, a key unlisted affiliate central to the group’s ownership structure.
The disclosure has drawn attention as it precedes Hanwha Solutions’ recent rights offering, which has faced criticism for potentially diluting shareholder value.
According to a filing by Hanwha Energy on March 31, the company’s board approved an interim dividend totaling KRW 100.8 billion in November last year. This marks the first interim dividend since 2020, when KRW 50 billion was distributed, effectively doubling the payout over five years.
Hanwha Energy is largely owned by the three sons of Chairman Kim Seung-youn—Kim Dong-kwan (50%), Kim Dong-won (20%), and Kim Dong-sun (10%). Based on this ownership structure, Kim Dong-kwan is estimated to have received KRW 50 billion in dividends, while Kim Dong-won and Kim Dong-sun likely received KRW 20 billion and KRW 10 billion, respectively.
Kim Dong-kwan recently moved to reassure investors by purchasing approximately KRW 3 billion worth of Hanwha Solutions shares amid deteriorating market sentiment surrounding the company’s capital increase. He currently serves as Head of Strategy at Hanwha Solutions.
On March 26, Hanwha Solutions announced a rights offering involving the issuance of 72 million new common shares. The company’s stock dropped more than 18% on the day the news was disclosed, reflecting investor concerns over dilution.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
