Hanwha Group: Core Values

 

Sinyong gwa Uiri: What Actually Drives Hanwha

Hanwha Group: Core Values and Workplace Culture

For decades, my consultancy has engaged with Korean chaebol. My work has been uncovering and sharing company cultures, for example my Hyundai Way book series. I've also done deep dives into SK and LG plus dozens of other companies. I am now turning to Hanwha.

Hanwha lists three core values: Challenge, Dedication, and Integrity. Those are cited on the website and in the onboarding deck. Like the other chaebol, it is not what drives the company. More telling is the founding philosophy of Kim Jong-hee, who formed Korea Explosives in 1952. His core values, their corporate motto (sahoon) was sinyong gwa uiri, trust and loyalty.

I see these as core Hanwha values.

Sinyong 신용 and Uiri 의리

Sinyong is in the moral sense, trust.

Uiri is a strong sense of honor and duty within a relationship, not corporate loyalty in the HR sense.

I see both as grounded in Korea's Neo-Confucian roots.

The Agreement Is a Roadmap, Not a Blueprint

Contracts matter, but Hanwha treats the signed document as a roadmap. Terms can and do get revisited as conditions change, and the expectation is that you revisit them together.

Western teams can read a long assessment period as slow, or as a sign there is no deal, and pull back right before the deal can move forward.

What Shapes Hanwha

• Founder family at the center. Kim Seung-yeon took the chair from his father in 1981 and re-shaped the group. His eldest son, Kim Dong-kwan, now drives strategy across solar, aerospace, and shipbuilding. Decisions still get routed upward, and middle managers are expected to implement.

• Two Hanwhas. Qcells in Georgia, Philly Shipyard, and Hanwha Ocean's US work all operate closer to Western norms than the Korea-based explosives and defense units do. Treating the company as one culture is an assumption. There are several.

• Shinsedae, or the new generation in the ranks. Younger Korean staff are often more pragmatic than in the past, which can mean less attached to lifetime employment, and more direct than their seniors. Your working-level counterpart may be far more candid than their seniors.

Be patient at the front. Be relentlessly consistent on small commitments. Best to have a senior sponsor on your side, but be aware that internal movement is common. These rotations can disrupt and delay projects. 

One last thought. Hanwha invests in people!

Question  Call Don  310-866-3777