Company Renamed
Hanwha Thales, the country's biggest defense electronics provider, announced on October 10 that it has officially renamed itself Hanwha Systems at the shareholders’ general meeting and held a signboard hanging ceremony at the company’s plant in Yongin, Gyeonggi Province.
On the same day, Hanwha Group took over a 50 percent stake from Thales Group and Hanwha Systems took the first step toward independent management.
Hanwha Systems has been successfully leading the nation’s first defense joint venture with global defense group Thales. The company plans to make more effort to jump into a global defense electronics provider along with Hanwha Group’s other defense units – Hanwha Corporation's Defense Division, Hanwha Techwin and Hanwha Defense Systems – in the future.
Meanwhile, Hanwha Systems’ executives and officials, including CEO Chang Si-kweon and labor union head Yang Chul-un, attended the signboard hanging ceremony at the Yongin plant.