Onion
July 20, 2026
🔥 Hanwha Financial Group vs. KDB Life Acquisition Battle Heats Up… Will Profits Exceed 930 Billion Won? - 2026.07.20
This is it~ The market is heating up again! 🌡️ The KDB Life acquisition battle involving Hanwha Financial Group (Hanwha) is just getting started. Did you hear that Hanwha, which withdrew from the Yebyeul General Insurance acquisition, has entered the final competition stage alongside HengKook Life for KDB Life? [1] While Hanwha strategically withdrew from the Lotte General Insurance deal, the possibility of a 'two-way battle' with HengKook Life for KDB Life has increased significantly. [2] Chairman Kim Nam-gu announced plans to diversify the business through the acquisition of an insurance company by the end of the year. The cautious approach stems from the intent to improve a portfolio heavily skewed toward securities (85.6% of net profit in Q1 this year came from Hanwha Securities). [3]
Will Results Exceed Market Consensus? 📈
The news on performance is even better. According to Shinhan Investment & Securities' forecast, Hanwha Financial Group's second-quarter net profit attributable to owners of the parent company is expected to reach 930.2 billion won. [4] This is not just above market consensus. Structural changes in major securities firms and strengthened competitiveness in the IMA (Institutional Asset Management) and commercial paper markets are acting as key drivers for strong performance. [4] In particular, the consensus for the combined operating profit of the top five major securities firms in Q2 this year is 5.1278 trillion won, driven by increased trading volume and valuation gains related to SpaceX. [5]
Proof of Financial Strength and Organizational Restructuring 🏦
Hanwha is also solid in terms of financial strength. Subsidiary Hanwha Securities successfully completed the public offering of 36 billion yen (approx. 335.3 billion won) in unsecured yen-denominated bonds. [6] This is the third issuance since the first in 2023, once again proving its overseas fundraising capabilities. [6]
Internally, a large-scale personnel shuffle replaced 61% of the operational staff, but the top leadership remains unchanged. [7] Chairman Kim Nam-gu leads overall management as both board chairman and holding company chairman, while former CEOs remain as executive directors, ensuring management stability. [7]
Overseas Expansion, Including Defense and Drones 🚀
Efforts for overseas expansion continue. Subsidiary Hanwha Accelerator has agreed to support the US entry of domestic defense and drone startups in collaboration with the US 'Oregon UAS Accelerator'. [8]
Onion believes that if the KDB Life acquisition battle concludes successfully, it will improve the securities-heavy portfolio and serve as a strong catalyst for resolving undervaluation. [3] Interest rates dropped? If rates drop, stock prices should rise, right? But will those lowered rates rise again~ This is no joke. [4] While there are changes in M&A strategy and potential risks, the strong performance foundation of the core business and favorable supply-demand dynamics are clear. [5]
📰 Reference News (8)
HengKook Missed Yebyeul General, Hanwha Withdrew from Lotte General… Will They Clash Over KDB Life? - Financial Today
파이낸셜투데이 · 2026.07.20
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Real or Fake··· Controversy Over KDB Life Acquisition Battle - Sisajournal e
네이버뉴스 · 2026.07.20
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[Epic Why] The Background Behind Chairman Kim Nam-gu's Cautious Approach to 'Insurance Company Acquisition'
네이버뉴스 · 2026.07.20
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[Securities Industry Game Changer] ① Beyond the Bull Market: Structural Changes… The Competitiveness of Scale
네이버뉴스 · 2026.07.20
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'Bustling Stock Market' Top 5 Securities Firms Enjoy Q2 Results Bonanza… Trading Volume Rises, Plus SpaceX Valuation Gains
네이버뉴스 · 2026.07.20
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Hanwha Securities Successfully Issues 36 Billion Yen in Yen-Denominated Foreign Currency Bonds… Third Issuance Since the First in 2023
네이버뉴스 · 2026.07.20
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[Securities Firm Power Map ②] Hanwha Securities Replaces 61% of Operational Staff… Top Leadership Remains Unchanged - Shin-A Ilbo
네이버뉴스 · 2026.07.20
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[Securities UP+] Overseas Expansion and Talent Development
네이버뉴스 · 2026.07.20
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