- Business
- Hanwha Solutions Corporation, founded in 1965 and headquartered in Seoul, South Korea, operates as a multinational provider of chemicals, renewable energy solutions, advanced materials, and real estate development services through its core divisions including Chemical, Q CELLS, Advanced Materials, and Insight; the company changed its name from Hanwha Chemical Corporation in January 2020 following a merger with Hanwha Q CELLS & Advanced Materials and conducts global operations across Asia, Europe, North America, and the Middle East with manufacturing sites, R&D centers, and sales networks in countries such as South Korea, Germany, the United States, China, and Malaysia. The Chemical Division manufactures petrochemical products including polyolefins such as low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), high-density polyethylene (HDPE), and ethylene vinyl acetate (EVA); polyvinyl chloride (PVC) and eco-friendly plasticizers like ECO-DEHCH; chlor-alkali products comprising caustic soda, chlorine, ethylene dichloride (EDC), and vinyl chloride monomer (VCM); and toluene diisocyanate (TDI) along with derivatives for polyurethane applications. The Q CELLS Division supplies photovoltaic solar modules featuring Q.ANTUM, Q.ANTUM DUO, and Q.PEAK DUO technologies; energy storage systems like Q.HOME+ ESS; solar power plants with engineering, procurement, and construction (EPC) services; and downstream energy retail under Q.ENERGY targeting households and businesses with 100% renewable electricity, while maintaining a 14 GW development pipeline in Europe. The Advanced Materials Division produces lightweight composites such as StrongLite (glass fiber reinforced thermoplastics), SuperLite (low weight reinforced thermoplastics), and sheet molding compound (SMC) for automotive and electric vehicle battery housings; Type 4 composite hydrogen tanks and tube skids for storage and transportation; solar materials including EVA sheets and backsheets; and electronic materials like LinkTron films, coverlay films, and flexible circuit materials for displays and 5G devices. The Insight Division develops multifunctional high-tech industrial complexes such as Daedeok, Asan, Seosan, Gimhae, Hwaseong Bio, and Yongin Techno Valleys; premium real estate including Galleria department stores in Seoul, Suwon, Cheonan, Daejeon, and Jinju with fashion, F&B outlets like GOURMET 494, and luxury brands; and renewable energy-integrated urban projects. Recent developments include raising approximately KRW 500 billion in June 2025 through a price return swap agreement involving the sale of shares in German subsidiary Q Energy Solutions SE to enhance liquidity and financial flexibility; advancing green hydrogen initiatives with water electrolysis technology, non-PGM catalysts, and production plans for a PyeongChang plant targeting 290 tons annually from late 2022; strategic investments such as a 2021 acquisition of RES France to double Europe's clean energy pipeline to 10 GW including wind projects, a stake in REC Silicon for low-carbon polysilicon, and $100 million in Lancium Technologies for renewable energy management; and the 2021 addition of Galleria and City Development divisions alongside the acquisition of U.S. high-pressure tank maker Cimarron Composites with planned $100 million investment through 2025.