Hanwha Group Chairman Kim Seung-youn transferred half of his stake in the group's holding company, Hanwha Corporation, to his three sons. 

According to the group on Monday, Kim transferred eleven-point-32 percent of his 22-point-65-percent stake in the holding company to his three sons.
 
Group Vice Chairman Kim Dong-kwan received four-point-86 percent, while Hanwha Life Insurance President Kim Dong-won and Hanwha Galleria Vice President Kim Dong-seon each received three-point-23 percent. 
 
Hanwha Energy Corporation now holds a 22-point-16-percent stake in Hanwha Corporation. Chairman Kim holds eleven-point-33 percent, Vice Chairman Kim holds nine-point-77 percent, and the two younger sons each hold five-point-37 percent. 

While the three sons together hold a 100 percent stake in Hanwha Energy, their combined stake in the holding company totals 42.67 percent, effectively consolidating their control over the group's management.

The group stated the chairman decided to transfer the shares to avoid unnecessary controversy and misunderstandings regarding the group's succession, as well as to separate Hanwha Aerospace's rights offering and the acquisition of a stake in Hanwha Ocean from the succession process. 
 
Meanwhile, the three sons are expected to pay an estimated 221-point-eight billion won, or around 150-point-six million U.S. dollars, in gift taxes.