Hanwha Group Chairman Kim Seung-yeon (2nd R) talks with the presidents of the Alliance for a Better Korea, including Chung Mong-joon (2nd L), who announced his candidacy for the 2002 presidential election.
[Yonhap Photo}
[BizCheck=Sunghi Hong] Hanwha Group Chairman Kim Seung-yeon (72) has emphasized challenge and innovation as the group celebrates its 72nd anniversary, and his unique “field management” style is attracting attention from the business community.
“Let us overcome the tide of crisis with uncompromising conviction and unrelenting pursuit of excellence, and write a new history of 100 years of Hanwha,” Kim said in his anniversary speech. This is a vision for the future of Hanwha Group, and it is deeply connected to the management philosophy that Chairman Kim has cultivated on the golf course.
◇Hanwha's Challenge and Innovation with Field Management
In an internal broadcast on the 10th, the day after the anniversary, Chairman Kim emphasized that “Hanwha has become a major player in the global market through constant challenge and innovation over the past 72 years amidst many crises and difficulties,” and that “we should not wait for the market to change, but quickly acquire the capability to lead the market through bone-cutting innovation.” This anniversary speech reaffirms the direction of Hanwha Group and is in line with his 'field management' approach.
Chairman Kim has a long history of refining his business strategy through golf, and his management philosophy is deeply imbued with insights from the game. On weekdays as well as weekends, Kim frequents major golf courses such as Jade Palace CC in Gapyeong, Gyeonggi-do and New Korea CC in Goyang, Gyeonggi-do. Jade Palace CC is one of the most expensive luxury golf courses in Korea, and it is also known for being the place where Kim organizes meetings with business partners.
For Kim, managing the field is more than just a hobby; it's an extension of his business. He communicates with key executives on the course to discuss the group's future strategy and make important decisions. He also plays a round every Friday with former Hanwha vice chairman Chun-Soo Kum, 72, who stepped down as an advisor earlier this year, to discuss key business issues. Mr. Kim has a long history of working closely with Mr. Kim, and their rounds are known to be more than just a hobby, but a place to discuss important business issues and strategies.
Kim also regularly plays golf with other key executives on the field, and they often meet informally to discuss the direction of the group and make decisions. In one anecdote, one executive said, “Kim keeps golf clubs and golf clothes in his car in all four seasons, just in case he needs to be called to the golf course unexpectedly.” This shows that Kim values informal conversations on the golf course and considers on-field discussions to be an important part of his management.
◇Expanding the golf course business
The owner of New Korea CC, which Kim frequents, is Shinsegoryeong Tourism, which is also known for its stakes in major business figures. In 2015, Hyundai Heavy Industries sold 11 percent of its 40 percent stake in Shinsegoryeong Tourism to Chairman Kim Seung-yeon, Kolon Group Chairman Lee Woong-yeol, and Haesung Group Chairman Dan Jae-wan in equal parts. The transaction increased Chairman Kim's stake in Shinsegoryo Tourism from 20 percent to 23.7 percent, while HHI's stake was reduced from 40 percent to 29 percent.
Since then, Kim has expanded his influence over golf course operations through this stake purchase, and New Korea CC, along with Jade Palace CC owned by Hanwha Group, has become an important stage in Kim's field management.
◇Golf and Hanwha's leap into the global market
In addition to operating golf courses in Korea, Chairman Kim is also promoting resort-type golf courses overseas to expand into the global market. In 2004, he acquired Ocean Palace CC in Nagasaki Prefecture, Japan, and succeeded in normalizing its management, and is expanding the scope of the golf business to Southeast Asia, including China and Vietnam. He is promoting the construction of resort-style golf courses in Southeast Asia through Hanwha Land Development and is working with China's largest resort company, Tianlun Condo, to discuss a membership exchange between the two countries.
This global golf course expansion shows that Kim sees golf not just as a sport, but as an important business vehicle for Hanwha's growth and global strategy. His “field management” is an important driving force behind Hanwha's global expansion and business diversification, and through it, he is crystallizing Hanwha's vision and goals.
◇Hanwha's future forged on the field
Mr. Kim's experience in the business world and his perseverance and strategic thinking on the golf course are deeply embedded in his leadership and management philosophy. The business community is eagerly anticipating how Kim's on-field management will guide the future of Hanwha Group, and how the management concepts he has honed on the golf course will pay off in the future.
By Seonki Hong imagine1@hanmail.net
저작권자 ⓒ 비즈체크, 무단 전재 및 재배포 금지