[Edaily Reporter PARK JONG-HWA ] HANWHA LIFE INSURANCE has acquired Acuon Capital Partners Co., Ltd. and Acuon Savings Bank. Hanwha Financial Group, centered around HANWHA LIFE INSURANCE, has expanded its business scope from insurance, securities, and asset management to consumer finance, thereby establishing a foundation to leap forward as a comprehensive financial services group.

HANWHA LIFE INSURANCE held a board meeting on the 30th and approved a proposal to acquire a 50.54% stake in Acuon Capital for 440 billion won, thereby securing a controlling interest. Centroid Investment, a private equity fund (PEF) manager, participated in this acquisition as a financial investor (FI).

Acueon Capital is a mid-sized finance company with total assets of 4.6 trillion won as of the first half of this year. With the acquisition of Acueon Capital, Hanwha Financial has expanded its business scope to include consumer finance, following its existing operations in insurance, securities, and asset management. HANWHA LIFE INSURANCE stated, “As we will now be able to provide financial services encompassing insurance, loans, and investments to both individual and corporate customers, we expect to accelerate the establishment of a comprehensive financial group structure.” Acueon Capital Partners Co., Ltd. is also expected to further strengthen its funding and sales network through its integration into HANWHA LIFE INSURANCE.

Q Capital Partners Co., Ltd. also holds a 100% stake in Acueon Savings Bank, which ranks fifth in terms of assets among savings banks (5.1 trillion won), meaning Acueon Savings Bank will also join HANWHA LIFE INSURANCE as an affiliate. HANWHA LIFE INSURANCE previously owned Hanwha Savings Bank as a subsidiary; by combining the capabilities of Acuon Savings Bank and Hanwha Savings Bank, it can rise to fourth place in the savings bank industry with total assets of 6.5 trillion won. Its sales network will also expand beyond its existing presence in Incheon and Gyeonggi Province to include the Seoul metropolitan area and the Yeongnam region.

On the same day, the HANWHA LIFE INSURANCE board of directors also approved a resolution to participate in a capital increase by its affiliate, HANWHA INVESTMENT & SECURITIES. The goal is to enable HANWHA INVESTMENT & SECURITIES to be designated as a comprehensive financial investment firm through this capital expansion. HANWHA INVESTMENT & SECURITIES plans to carry out a capital increase of up to 900 billion won, and HANWHA LIFE INSURANCE has decided to contribute 250 billion won each, alongside its subsidiary Hanwha Asset Management. HANWHA LIFE INSURANCE expects that if HANWHA INVESTMENT & SECURITIES is designated as a comprehensive financial investment firm, not only will HANWHA INVESTMENT & SECURITIES’ core competitiveness be strengthened, but the value of HANWHA LIFE INSURANCE’s stake in HANWHA INVESTMENT & SECURITIES will also rise, and synergies among affiliates will be enhanced.

A HANWHA LIFE INSURANCE official stated, “This investment marks a crucial turning point in our leap toward becoming a comprehensive financial group that extends beyond insurance,” adding, “Based on Hanwha Finance’s value chain—which encompasses insurance, securities, asset management, and consumer finance—we will provide customers with a broader range of financial services.”