Hanwha Group, the nation’s 10th-largest conglomerate by assets, named Kim Chang-beum, CEO of Hanwha Advanced Materials, as new head of its chemical arm Hanwha Chemical.

“Top management of Hanwha Chemical will take a bigger role in the group’s business portfolio, following a recent deal with Samsung,” the group said in a press release.

By taking the two chemical arms of Samsung ― Samsung General Chemicals and Samsung Total ― Hanwha has taken the top post in the nation’s petrochemical industry.

Kim, who started his career at Hanwha Chemical in 1984, has sharpened his management skills since 2010, when he was named CEO of Hanwha Advanced Materials.

Last June, he successfully wrapped up the sales of construction material business unit at Hanwha Advanced Materials to focus on advanced material business.

The group said Kim would be able to expand its chemical business domain by creating synergy effects with the two petrochemical companies bought from Samsung. (Yonhap)