Hanwha Asset Management

Introduction

Hanwha Asset Management is one of the major affiliates of the Hanwha Group, which offers various products and services from aerospace and mechatronics to financial services. It was founded in April 1988 as Hanwha Investment and Trust Management. The company merged with Prudential Asset Management in 2011 and Hanwha Asset Management was established. It has invested assets of $79.15 billion, including $54.66 billion in discretionary investment management accounts as of January 2020. The company’s AUM is over 29.6 trillion won as of the first half of 2020.

CEO

Kim Yong-hyun was nominated as CEO of Hanwha Asset Management in May 2016. Kim is in charge of finding new assets to invest in, such as overseas alternative assets. He is also trying to strengthen the overseas network of Hanwha’s affiliates, focusing on the financial sector, and is looking to acquire an overseas asset management company. He led an alternative investment team in Hanwha Life Insurance and graduated from Harvard Law School.

Performance

Hanwha Asset Management posted a net profit of 9.07 billion won in the first half of 2020, and a net profit in 10.27 billion in the first half of 2019. Since 2016, the company has reported a net profit of over 10 billion won. Its operating profit was 55.3 billion won as of the end of June.

Earnings are expected to rebound in the second half as the limit of insurers’ overseas investment will be expanded from 30% to 50%. The company has made large overseas investments with Hanwha Life Insurance and Hanwha General Insurance funds. Hanwha Asset Management has established subsidiaries overseas since it established its first subsidiary in Singapore. It has opened subsidiaries in China, the United States, and Vietnam in 2016, 2017 and 2019.

(Source: Hanwha Asset Management website)

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