Hanwha Group's Subsidiaries Hit With $2.74 Million Fine For Accounting Fraud



Founded in 1965, Hanwha Advanced Materials is operating businesses in areas of lightweight composite materials & molded parts for automobiles, high-functional films for mobile display, and high-efficiency film materials for solar power plants. The investigation also found that Hanwha Galleria and Hanwha Advanced Materials didn't write about loans worth 379.7 billion won ($313.15 million) and 142.5 billion won ($117.53 million) from special parties concerned, payment guarantees and sale transaction in the notes to their financial statements.

In 2003, as the Korean government launched a crackdown on the corruption that remained rampant throughout the country's top corporations, Hanwha found itself accused of misrepresenting its profits by as much as $800 million in order to secure its Korea Life bid.

In another general aspect of the present disclosure, there is provided a car undercover, comprising: a cover main body installed on a lower end of a front frame carrier; a plurality of mount units formed by being spaced at a predetermined interval in a longitudinal direction on an end of the cover main body, in order to install the cover main body; and a reinforcement rib formed by being protruded in a vertically longitudinal direction on an internal side of the cover main body, in order to reinforce strength, wherein the reinforcement rib includes a stiffener formed by being protruded from the reinforcement rib in a shape opposite to a shape of the reinforcement rib.

Abstract: A crash box for a vehicle, which mediates a back beam and a side member disposed in a width direction of the vehicle and absorbs crash energy when a crash occurs, may include a connecting body including a front coupling portion coupled to the back beam, a pair of side connecting portions bent from the front coupling portion to face each other, and a rear coupling portion extending from an end portion of each of the side connecting portions by being bent to be coupled to the side member; and a pair of connecting plates coupled to open upper and lower end portions of the connecting body, respectively.

Hanwha Advanced Materials' headquarters is located in Sejong, Other, KR 30077. To apply for employment at Hanwha Advanced Materials America LLC, visit the company website at or contact the human resource department at 4400 Northpark Drive in Opelika. In general, an undercover of a vehicle performs functions to protect various components provided on a lower portion of a vehicle, to reduce air resistance during driving of the vehicle, and to block missiles from the road.

Auto supplier Hanwha Advanced Materials America plans to invest $20 million to upgrade its manufacturing facility in Opelika, Alabama The company expects to add 100 new jobs over the next three years. In 1969, the group joined in the creation of Kyungin Energy Company, later renamed Hanwha Energy Corporation, which built and operated South Korea's sole privately held thermal power station.

The cover main body (100) may be roundly bent from a front (a direction where a vehicle moves forward, based on movement of the vehicle) towards a rear (a direction where a vehicle moves backward, based on movement of the vehicle) and may gradually be declined to a lower portion along a way to the rear.

In a general aspect of the present disclosure, there is provided a car undercover, comprising: a cover main body installed on a lower portion of a vehicle; a reinforcement rib formed by being upwardly protruded from the cover main body; a mount unit disposed on the reinforcement rib or on hanwha a longitudinal extension line of the reinforcement rib, by being provided in order to install the cover main body on the lower portion of the vehicle; and a stiffener disposed by being spaced from the mount unit, by being upwardly protruded from the reinforcement rib.

Additionally, Asia Pacific region has been the fastest growing market for advanced materials. Such undercover is installed on a cross member disposed on a lower portion of a front bumper, thereby protects engine and chassis components from protrusions on the ground, as well as smoothens air flow on a lower portion of the vehicle.

The company operates into three business areas: Automotive Materials offers GMT ( Glass Fiber Mat Reinforced Thermoplastics), LWRT ( Low Weight Reinforced Thermoplastics ), EPP ( Expanded Polypropylene), Auto interior which is Interior material, PMC ( Power Slush Molding Compound ) and SMC ( Sheet Molding Compound): Solar Materials offers like EVA Sheet with quality Calender and T-Die method, BackSheet and Solar Chain; and Electronics Materials such as offers Coverlay, 3LayerFPCB, bonding Sheet, EMI Shield Film.

Economies such as U.K., Spain are likely to be the key contributors to the growth of advanced material market in this region. Hanwha - Flexible Copper Clad Laminate, core in a flex circuit construction: Hanwha Advanced Materials has transformed itself into a global high-tech materials maker” by concentrating its capacities on the material industry.

4 includes two bottom plan views illustrating a state of a car undercover according to an exemplary embodiment of the present disclosure installed on a vehicle before an RCAR (Research Council for Automobile Repairs) test (a), and after an RCAR (Research Council for Automobile Repairs) test (b), respectively.

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