South Korean multinational Hanwha Group becomes part of Samsung Techwin's share capital

The shareholders of the company of network security solutions Samsung Techwin have signed an agreement with the South Korean multinational Hanwha Group, by which the latter becomes part of its capital after selling its shares.

The shareholders of Samsung Techwin, including Samsung Electronics, Samsung C&T and other subsidiaries of this group, have signed an agreement to sell their stakes to the South Korean group Hanwha, formed by a wide range of companies from manufacturing industries, construction, finance, services and entertainment.

The entry of Hanwha Group into the capital of this company specialized in network security systems means, according to Samsung Techwin Europe's Chief Solutions Officer, Jong Wan Lim (pictured), "an investment that will allow us to continue researching, designing and developing innovative leading solutions for the market, in order to create new business opportunities and ensure our future growth. In addition, our customers can rest assured that we will continue to maintain the business as before and that there will be absolutely no alteration in the supply of our products or in the pre-sales and after-sales service".

Still subject to approval by antitrust regulatory authorities, the share transaction is expected to be completed in the first half of the year. 2015. Constituted in 1952, Hanwha Group has 52 subsidiaries in South Korea and 90 International.

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