But simply saying ‘he managed well’ doesn’t quite capture it. What’s the secret to his steadfast leadership over 40 years, navigating countless crises and changes? Today, I’d like to explain the three core secrets that led Chairman Kim Seung-yeon to guide Hanwha Group to its current ‘unrivaled’ position, as if I were explaining it to a friend. You’ll probably think, ‘Ah, so that’s why!’ after hearing it.

Bold Moves: Proactive Business Expansion Strategy

Chairman Kim Seung-yeon’s management style highlights his nature as a bold risk-taker. He had the foresight to seize opportunities when others hesitated and to look ahead to the future. It’s truly remarkable how he completely transformed the group’s structure by making contrarian investments even during difficult times like the IMF Asian financial crisis and the global financial crisis. The saying ‘turning crisis into opportunity’ perfectly applies here.

• Acquisition of Korea Life Insurance: In 2002, he entered the financial industry by acquiring Korea Life Insurance (now Hanwha Life), which everyone considered a difficult venture, laying a stable foundation for the group’s growth. This was a huge gamble at the time.
• Entry into Solar Energy Business: In the late 2000s, he boldly ventured into the solar energy business, which still had significant uncertainties, and grew Hanwha Q CELLS into a global leader. He prepared for future growth engines in advance.
• Acquisition of Daewoo Shipbuilding & Marine Engineering: Recently, after long difficulties, he acquired Daewoo Shipbuilding & Marine Engineering (now Hanwha Ocean), securing overwhelming competitiveness in the defense and marine sectors. This decision further strengthened the group’s portfolio.

Talent Management Emphasizing ‘Trust and Loyalty’

One of Chairman Kim Seung-yeon’s consistently emphasized management philosophies is ‘trust and loyalty.’ This isn’t just lip service; it’s deeply ingrained throughout the entire management process. His focus on trust with employees and his commitment to taking responsibility for relationships once formed have served as an example for many. Perhaps that’s why Hanwha Group is often called the epitome of ‘loyalty management’ in the business world. I believe this culture has fostered strong organizational cohesion.

• Employee Respect: Even during difficult times, he prioritized maintaining employment over restructuring, striving to minimize employee unrest.
• Talent Development: He is known for developing talent from a long-term perspective and investing generously in key personnel. Ultimately, he strongly believes that people are assets.
• Social Responsibility: He values fulfilling corporate social responsibility in addition to pursuing profits, actively engaging in various social contribution activities.

Investment for the Future: Continuous Challenge Towards ‘Innovation’

I believe Hanwha Group’s current reputation for being ‘on fire’ isn’t just due to excelling in existing businesses. Chairman Kim Seung-yeon has always had a strong will to read future changes and lead innovation. Especially recently, he has made massive investments in new technology sectors such as aerospace, artificial intelligence (AI), and eco-friendly energy, securing the driving force for the group’s sustainable growth. Without this spirit of challenge, today’s Hanwha wouldn’t exist.

• Aerospace Business: Centered around Hanwha Aerospace, the group is actively engaged in developing independent satellite technology and launch vehicle businesses. This shows a strong will to lead the future space era.
• Eco-friendly Energy Transition: Beyond solar power, the group is focusing on developing eco-friendly energy solutions such as hydrogen energy and wind power, preparing for the carbon-neutral era.
• Accelerated Digital Transformation: The group is accelerating its overall digital transformation (DT), integrating advanced technologies like AI and big data into management to enhance efficiency.

Looking at the path Hanwha Group has taken under Chairman Kim Seung-yeon’s leadership, it seems to demonstrate what ‘entrepreneurship’ truly means, beyond just making money. Bold decisions, people-centric management, and continuous investment in the future – all of these have led Hanwha Group to its current position. It will be interesting to see what new history Hanwha Group will write next.

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Playing His Hand with ‘Entrepreneurship’ and ‘AI’

In his 2026 New Year’s address, Chairman Chey Tae-won emphasized ‘entrepreneurship’ as the starting point for industrial competitiveness and growth. This was based on the judgment that past methods of success would make it difficult to overcome the current complex crisis. Without a challenging spirit to pioneer new paths, one would inevitably be swept away by the tide of change. Furthermore, he identified ‘Artificial Intelligence (AI)’ as the trend of the times and a new growth engine, stressing that not only SK Group but the entire Korean economy must innovate based on AI. Isn’t his diagnosis that AI is fundamentally reshaping the global industrial structure truly realistic? Perhaps that’s why SK Group announced its plan to build an ‘AI integrated solution’ to lead the global AI ecosystem.
Personally, I believe Chairman Chey Tae-won’s insight is truly important. It’s about focusing on creating new value through AI and transforming the corporate structure, beyond simply adopting technology. He even issued a strong warning, calling it “almost the last period” where the Korean economy will either go into negative growth or create a new year of growth. His words that “terrible things” will happen if things continue as they are truly woke me up. His words can be said to be a powerful message that goes beyond mere ‘expectation control’ for the Korean economy.

The ‘Gambler’s Instinct’ Hidden Behind SK Hynix’s Success

This gambler’s instinct of Chairman Chey Tae-won also shone through in the success story of SK Hynix. Honestly, when the decision to acquire Hynix was made, there was considerable opposition even within the group. However, Chairman Chey recognized the HBM (High Bandwidth Memory) trend early on and strengthened cooperation with global leading companies like Nvidia and TSMC, elevating SK Hynix to its current position. As a result, SK Hynix recorded an all-time high operating profit of over 23 trillion won as of 2024, and its quarterly operating profit is projected to exceed 10 trillion won in the third quarter of 2025. I believe this would have been impossible without such bold decisions and leadership.
Thanks to his leadership, SK Hynix has secured an unrivaled position in the HBM market, a core component of the AI era. This wasn’t just luck; it should be seen as the result of foresight and bold execution. His discernment in recognizing the hidden value of Hynix, which was treated as a “white elephant” at the time, is truly remarkable.

Loving Sports and Advocating ‘Beopgochangsin’

Chairman Chey Tae-won has many interesting aspects outside of business. He is especially well-known as a sports enthusiast, frequently attending games as the owner of the Seoul SK Knights basketball team. Personally, he enjoys tennis, and due to his past as a handball player in his school days, he has served as the president of the Korea Handball Association since 2008, supporting less popular sports. The fact that he led the improvement of poor handball conditions and even the construction of the first dedicated handball stadium in Korea truly shows his sincerity.
Furthermore, he presented ‘Beopgochangsin (法古創新)’ and ‘Seungpungparang (乘風破浪)’ as key themes for 2026. These mean to create new things by emulating the old, and to ride the winds of change to overcome rough waves, respectively. This seems to be underlying his overall management philosophy. It’s a glimpse into his will to constantly innovate and not just remain in past success formulas. Isn’t it thanks to these aspects that his messages resonate even more?
The messages Chairman Chey Tae-won delivers to the Korean economy and SK Group in 2026 ultimately seem to converge on ‘change and innovation.’ It’s about pioneering new paths through entrepreneurship and seizing the massive trend of AI as an opportunity to move forward. I hope his vision and leadership will have a positive impact on our society as a whole. Personally, each of his remarks has been quite intriguing lately.

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