한화그룹 김승연 회장의 제2창업과 한화그룹의 도약

Abstract

The purpose of this paper is to investigate a case of the potential ability of Hanwha Group which turned a crisis into an opportunity during the financial crisis. In this study, I would like to study fundamental propositions necessary for business growth in the rapidly changing economic condition through the case of Hanwha Group’s process of development. From this research of Hanwha Group’s process of development, I find that Hanwha Group made the most use of changing environment, keeping pace with the times with aggressive business diversification strategy in the 2nd Foundation period(from 1980s to mid-1990s). Also, Hanwha Group underwent a serious restructuring under the leadership of CEO Seung-youn Kim in the take-off stage (from 1996 to 2004). Hanwha Group is now leading its growth as a global company, increasing overseas investment from 2005 which is its globalization period. In conclusion, I find that Hanwha Group’s aggressive business diversification, decisive restructuring and overseas expansion are the key points which can be explained as Hanwha Group’s process of development after its 2nd foundation. In this process, Hanwha Group could build powerful leadership, so that the group was able to find a larger market quickly and overcome its crisis under the severe economic condition. That is, the potential ability of Hanwha Group is largely based on the thoroughly capability of the leader and the employees centering around the strong leadership.