Hanwha Machinery & Service Holdings has received notification from the Fair Trade Commission that it meets the standard requirements for a holding company.

The company disclosed on the 8th that it had received a notification of the review results for its holding company conversion filing from the Fair Trade Commission, stating that it met the holding company standard requirements under the Monopoly Regulation and Fair Trade Act (Fair Trade Act) as of August 3.

According to the disclosure, the company has five subsidiaries in total as of August 3. The equity stakes held by Hanwha Machinery & Service Holdings in its subsidiaries are as follows:

• Hanwha Momentum: 100.00%
• Hanwha Robotics: 67.97%
• Hanwha Vision: 33.95%
• Hanwha Galleria: 36.15%
• Hanwha Hotels & Resorts: 49.80%

These equity stakes were calculated based on the total number of issued shares as of August 3.

Hanwha Machinery & Service Holdings was established on August 3 after being spun off from Hanwha Corporation through a horizontal spin-off on August 1.

The company stated that any matters falling under the holding company conduct restrictions stipulated in Article 18 of the Fair Trade Act must be resolved within two years from the holding company conversion date of August 3. However, it added that it may apply for an extension of the grace period pursuant to Article 18, Paragraph 6 of the same Act.