By Lee Hyo-sik
Samsung Techwin officially became part of Hanwha Group, Korea's 10th largest family-controlled conglomerate, Monday, changing its name to Hanwha Techwin.
Its sister firm Samsung Thales, which is another former defense arm of Samsung Group, also changed its name to Hanwha Thales.
Samsung Techwin held an extraordinary shareholders' meeting at the Seongnam Chamber of Commerce and Industry in Gyeonggi Province, which approved the firm's plan to change its corporate name to Hanwha Techwin.
The company had initially planned to hold the meeting at 9:30 a.m., but was unable to proceed for nearly 8 hours because of a protest by unionized workers who opposed the name change.
Following a physical confrontation with police, about 140 unionized workers were taken into custody on charges of obstruction of public duty.
Unionized workers of Samsung Techwin have been protesting the company's decision to be acquired by Hanwha, demanding compensation and job security.
Samsung Thales also held an extraordinary shareholders' meeting and approved the change of its name to Hanwha Thales.
In November, Hanwha signed a 1.9 trillion won deal with Samsung to acquire the latter's four chemical and defense units.
They are Samsung Techwin, Samsung Thales, Samsung General Chemicals and Samsung Total Petrochemicals.
Hanwha already changed the names of Samsung General Chemicals and Samsung Total Petrochemicals to Hanwha General Chemicals and Hanwha Total Petrochemicals, respectively.
Samsung Techwin officially became part of Hanwha Group, Korea's 10th largest family-controlled conglomerate, Monday, changing its name to Hanwha Techwin.
Its sister firm Samsung Thales, which is another former defense arm of Samsung Group, also changed its name to Hanwha Thales.
Samsung Techwin held an extraordinary shareholders' meeting at the Seongnam Chamber of Commerce and Industry in Gyeonggi Province, which approved the firm's plan to change its corporate name to Hanwha Techwin.
The company had initially planned to hold the meeting at 9:30 a.m., but was unable to proceed for nearly 8 hours because of a protest by unionized workers who opposed the name change.
Following a physical confrontation with police, about 140 unionized workers were taken into custody on charges of obstruction of public duty.
Unionized workers of Samsung Techwin have been protesting the company's decision to be acquired by Hanwha, demanding compensation and job security.
Samsung Thales also held an extraordinary shareholders' meeting and approved the change of its name to Hanwha Thales.
In November, Hanwha signed a 1.9 trillion won deal with Samsung to acquire the latter's four chemical and defense units.
They are Samsung Techwin, Samsung Thales, Samsung General Chemicals and Samsung Total Petrochemicals.
Hanwha already changed the names of Samsung General Chemicals and Samsung Total Petrochemicals to Hanwha General Chemicals and Hanwha Total Petrochemicals, respectively.
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