Hanwha Group (Korea Hanja Hanhwa Geurup) is a large business conglomerate (chaebol) in South Korea.[3] Founded in 1952 as Korea Explosives Co. (Korean; Hanja: , the group has grown into a large multi-profile business conglomerate, with diversified holdings stretching from explosives, their original business, to retail and financial services. In 1992 the company adopted its abbreviation as its new name: "Hanwha".