International. Following the acquisition of a significant shareholding in Samsung Techwin, the Hanwha Group presented its new business vision to more than 800 executives and employees at a ceremony in Seoul on July 27, 2015.
"Hanwha Techwin will serve as a growth engine for the group and will receive exclusive support from the group," said Kim Cheol-kyo, President of Hanwha Techwin. "We will play a crucial role for the globalisation of the group by achieving our long-term vision."
The Hanwha Group, the largest manufacturer of solar cells in the world, confirmed its interest and expectations in the business of video surveillance and security, and said it wants to position it in the high range in the sector in the long term. Hanwha, which will rely on group investments, will strengthen the security division into a provider of end-to-end solutions through mergers, acquisitions, partnerships and joint ventures. It will also invest in its own technology and human resources to strengthen business capabilities.
In Korea, Samsung Techwin has changed its name to Hanwha Techwin, while in Europe the Samsung Techwin Europe Limited name and samsung brand will remain for the products. The company will expand its business lines to home security, personal equipment and cloud services based on Samsung Techwin technologies.
At the ceremony, Hanwha Techwin presented its annual sales target of €7.7 billion by 2025; a figure that will allow it to position itself as a world leader.
