This information was revealed during South Korean President Lee Jae Myung’s visit to Hanwha Philly Shipyard in Philadelphia during his trip to the US last August. Hanwha's investment is part of a USD 150 billion package that 30 corporations have committed to the US, demonstrating their desire to strengthen the strategic cooperative relationship between the two economies.

During the visit, he stated his commitment to "Make American Shipbuilding Great Again" (MASGA) as part of an effort to boost the trade balance and strengthen bilateral relations.

Mr. Kim Dong Kwan, Vice Chairman of Hanwha Group, speaks at the event. Photo: Hanwha Life Vietnam

Mr. Kim Dong Kwan, Vice Chairman of Hanwha Group, speaks at the event. Photo: Hanwha Life Vietnam

Hanwha Philly Shipyard, one of the largest shipyards in the US, was acquired by Hanwha last year. According to a company representative, the shipyard holds commercial significance, demonstrating Hanwha's industrial standing and symbolizing the strategic partnership between the US and South Korea. The investment in the US shipbuilding industry also contributes to tightening security, economic, and technological ties in a volatile global landscape.

Beyond heavy industry, Hanwha is also expanding its influence in finance. Through its subsidiary Hanwha Life, the group has undertaken several large-scale activities in international markets. Notable are M&A deals such as acquiring a 40% stake in Bank Nobu (Indonesia), 100% of Hanwha Savings Bank (South Korea), and 75% of Velocity Clearing (US).

In addition, Hanwha Life established an AI Center in San Francisco to support its financial member companies in establishing a competitive technological advantage. At the 2025 World Economic Forum, the unit also signed two memorandums of understanding with SBVA and Celadon Partners, expanding its strategy to become a comprehensive global financial group.

Company leaders added that Vietnam will be Hanwha Life's key market in Southeast Asia as part of its roadmap to build a globally connected operational network.

Hanwha Life headquarters in TP HCM. Photo: Hanwha Life Vietnam

Hanwha Life headquarters in TP HCM. Photo: Hanwha Life Vietnam

Hanwha Life was the first member of Hanwha Group to enter the Vietnamese market in 2008 and currently has a charter capital of nearly 4,900 billion VND. Over more than 17 years of operation, the company has persisted with a sustainable development strategy, making positive contributions to the insurance market.

In 2024, amidst adjustments in the insurance industry due to new legal requirements and changing consumer behavior, Hanwha Life Vietnam maintained its growth momentum. Insurance premium revenue reached over 3,640 billion VND, and total assets exceeded 20,600 billion VND, a 12% increase compared to the previous year. With its effective cost management strategy and operational optimization, the company recorded a pre-tax profit of nearly 710 billion VND, marking its sixth consecutive year of profitable operation.

Hanwha Life Vietnam continually strengthens its financial capacity by improving its solvency margin each year. This ratio reached 381% at the end of 2022, increased to 389% in 2023, and further reached 414% at the end of 2024, four times the minimum regulatory requirement. Hanwha Life Vietnam has consistently been in the "Top 10 prestigious life insurance companies" (2017-2025) and the "Top 500 largest enterprises in Vietnam" for 5 consecutive years (2020-2024) according to Vietnam Report. In addition, the company has also been honored by HR Asia as the "Best Place to Work in Asia" for 4 consecutive years (2022-2025).

Company representatives assessed that these results demonstrate the company's stable financial foundation and long-term commitment to customers. The company has a competitive advantage in building an extensive business network with diverse distribution channels: a primary agency channel (including individual agents, general agents, and organizational agents), bank partnerships, and online distribution channels. Currently, Hanwha Life Vietnam has over 38,800 financial advisors and 140 service points nationwide, providing customers with convenient and quick access to services.

Company leaders stated that with a long-term vision and sustainable development strategy, Hanwha Life Vietnam is gradually strengthening its position in the domestic market. Leveraging the experience of its parent company in South Korea also contributes to improving operational efficiency and brand prestige in the eyes of customers and investors.

Hoang Dan