Hanwha L&C

What Hanwha L&C does

Hanwha Corporation (also referenced as Hanwha L&C in the E&C context) is a publicly listed South Korean conglomerate subsidiary of Hanwha Group, one of Korea's oldest chaebols founded in 1952. Following a major 2024 restructuring that spun off the Momentum Division and divested Solar, Wind, and Plant businesses, the company now operates through two core divisions: the Global Division, which provides chemical technology-based solutions including industrial explosives for mining and construction, and the E&C Division, which executes large-scale complex development, residential construction (RAEMIAN apartments), civil engineering (roads, bridges, railways), and plant EPC services domestically and in overseas markets including the Middle East. The company employs 10,000+ people with headquarters in Seoul and additional operations in Changwon.

The company generates revenue primarily through one-time project contracts in construction and plant EPC, supplemented by hardware sales in industrial explosives, and previously in aerospace components and machinery before the Momentum Division spin-off. Its go-to-market is enterprise field sales targeting large-scale infrastructure, residential development, and government/public projects, with overseas sales through direct engagement and partnerships with global construction companies. The 2025 standalone revenue was ₩4,315,204 million KRW (~$3.1B USD), with operating profit of ₩341,497 million KRW and a consolidated net income of ₩3,725 billion KRW.

The company is investing in construction automation and smart home technology, including five housing construction robots, the HOMENIC integrated home platform, and an AI Safety Education Solution supporting 40 languages, partly through a strategic alliance with Samsung C&T. It holds an A+ corporate bond rating from NICE Investors Service and an A2+ commercial paper rating from Korea Ratings, and reports an ESG rating of B+ from KCGS for 2024 (Environmental category: A). The Board includes 7 directors with technical expertise spanning chemistry (POSTECH PhD/MIT postdoc), architecture/civil engineering, and accounting (Columbia PhD), reflecting a commitment to governance depth alongside operational restructuring.

Name

Hanwha L&C

Legal name

Hanwha Corporation (주)한화)

Website

https://hanwhacorp.co.kr

Company type

Public

Founded year

1952

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Hanwha Corporation is a publicly listed Korean conglomerate subsidiary operating the Global Division (industrial explosives, chemicals) and E&C Division (construction, residential development, civil engineering, plant EPC) post-2024 restructuring, serving enterprise clients in Korea and overseas markets including the Middle East.

Ownership category

akta.pro rank

Product category

Engineering & Construction Services

NAICS

Explosives Manufacturing (32592)

SIC

Construction, Mining & Materials Handling Machinery & Equip (3530)

akta.pro primary industry

Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE) (EUAMAFAJ)

akta.pro secondary industries

Civil & Site Works EPC (Earthworks, Roads, Drainage, Foundations) (EUAEADAA), Balance-of-Plant (BOP) & Civil Works for Power Plants (EUAEAAAL)

Keywords

• Engineering construction services
• Plant EPC projects
• Industrial explosives manufacturing
• Aerospace industrial machinery
• Chemical technology solutions

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Construction and Engineering Services: Revenue from large-scale complex development projects, residential construction (apartments), civil engineering (roads, bridges, railways), and construction management
2. Plant EPC: Engineering, Procurement & Construction services for domestic petrochemical complexes and overseas Middle East plant projects including chemical, power generation, and desalination facilities
3. Industrial Explosives: Industrial explosives for mining and construction applications with overseas market development, new business development, and applications business expansion
4. Aerospace and Precision Machinery: Aviation business, industrial machinery, and machine tool sales through domestic and overseas channels
5. Solar Energy Equipment:

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Hanwha L&C operates as a multi-divisional enterprise providing large-scale complex development projects, eco-friendly construction services, and engineering, procurement and construction (EPC) for industrial plants. The company also produces industrial explosives for mining and construction, chemical technology-based solutions, and through its historical Momentum Division, aerospace, industrial machinery, and machine tool products. Services span estimation, engineering, construction management, and execution for residential complexes, civil infrastructure, petrochemical plants, power generation, and desalination facilities.

Product overview

Hanwha L&C (Hanwha Corporation) operates as a multi-divisional conglomerate with three main business segments: the Global Division focusing on chemical-based solutions and industrial explosives, the E&C (Engineering & Construction) Division handling large-scale complex development and eco-friendly construction projects, and the Momentum Division providing industrial machinery and automation equipment. The company serves construction, plant, energy, and industrial sectors across domestic and international markets.

Differentiator

Problem solved

Functional benefit

Brands

• Hanwha Global Division: Chemical technology-based solutions business focusing on sustainable core materials and eco-friendly solutions
• Hanwha E&C Division
• Hanwha Momentum Division

Products and services

• Construction and Engineering Services Large-scale complex development projects, residential apartment construction, and civil engineering works (roads, bridges, railways, water resources, wind power) delivered through the E&C Division for domestic and overseas clients including government agencies and developers.
• Plant EPC Services Engineering, Procurement & Construction services for domestic petrochemical complexes and overseas Middle East plant projects including chemical, power generation, and desalination facilities.
• Industrial Explosives Advanced industrial explosives for mining operations, construction blasting, and demolition applications globally, supported by overseas market development and applications business expansion.
• Aerospace and Precision Machinery Aviation business, industrial machinery, and machine tools covering aerospace, industrial equipment, power train equipment, thermal equipment, and plant equipment sold through domestic and overseas channels.
• Solar Energy Equipment Solar energy equipment offered as part of the company's machinery portfolio alongside aviation, industrial machinery, and machine tools.

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Samsung C&TcoreStrategic or Co-development Partner · 1 January 2025Strategic alliance for Korea's construction industry transformation. Hanwha participates in Samsung C&T-led initiatives including AI-centered work intelligence implementation, construction robotics development, and smart construction innovation. Partnership involves collaborative projects for housing construction robots and integrated home platform development.

Scale indicators9 records

Recent moves13 records

Expansion highlights5 records

Direct peers

• POSCO E&C: Korean construction peer with strong overlap in residential apartment complexes and civil engineering, leveraging the POSCO Group's steel supply chain similar to how Hanwha leverages its chaebol relationships.
• Daewoo Engineering & Construction: Korean construction major competing head-to-head with Hanwha in civil engineering, residential apartment complexes, and overseas plant EPC projects, including Middle East energy and infrastructure work.
• Samsung C&T (Engineering & Construction): Major Korean construction contractor and Hanwha's stated strategic alliance partner. Directly comparable in residential development, civil engineering, and plant EPC, particularly for complex mixed-use and mega-projects both domestically and overseas.
• SK Ecoplant: Korean contractor competing in residential development and large-scale complex projects, with additional overlap in environmental/eco-friendly construction positioning that mirrors Hanwha's "Green Infra Developer" branding.
• Hyundai Engineering & Construction: One of South Korea's largest construction contractors, directly comparable to Hanwha Corporation's E&C Division across residential, civil engineering, and plant EPC segments with overlapping Korean and overseas project portfolios.
• Doosan Enerbility: Korean industrial major with comparable power-generation plant EPC capabilities, particularly relevant to Hanwha's stated Middle East power generation and desalination EPC pipeline.
• GS Engineering & Construction: Korean contractor with closely overlapping portfolio in residential development, civil engineering, and plant EPC, competing for the same domestic and international project bids as Hanwha's E&C Division.
• Korea Explosives Group: Domestic Korean industrial explosives manufacturer with directly comparable product offering to Hanwha Corporation's Global Division explosives business for mining and construction blasting applications.

Others

• Hanwha Solutions: Hanwha Group affiliate producing chemical and material solutions including PVC and construction materials, adjacent to Hanwha Corporation's Global Division chemical business and historically referenced in the misleading "PVC windows and doors" descriptor for this entity.

Emerging players

• OCI Company: Korean chemicals and industrial materials producer with partial overlap with Hanwha Corporation's Global Division chemical solutions and core materials business, including some construction-related chemical adjacencies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/hanwha-corporation

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hanwha L&C