40 Years of Innovation: How Hanon Systems Aims to Become the Global No.1 in Automotive Thermal Management by 2036

Hanon Systems, a global automotive thermal energy management solutions company within Korea & Company Group, reviewed its history and achievements and outlined a vision for future growth ahead of its 40th anniversary on March 11.

The company operates 50 production plants and 3 R&D innovation centers worldwide and is ranked the world’s No. 2 manufacturer offering a full lineup of automotive thermal management solutions.

To mark the anniversary, Hanon Systems unveiled the message “40 Years Forward.” The slogan signals the company’s intent to leverage 40 years of technology and innovation to pursue new growth opportunities not only in future mobility but across other industries that require advanced thermal management.

Hanon Systems has set a goal to become the global No. 1 thermal management solutions company by its 50th anniversary in 2036.

To get there, the company plans to accelerate expansion beyond traditional automotive applications. It will target infrastructure sectors that need high-efficiency thermal solutions—such as data-center cooling systems, where demand is rising rapidly—and broaden its related business portfolio.

With that strategy, Hanon Systems aims to move beyond being an automotive supplier and position itself as a core infrastructure partner across multiple industries that rely on thermal-management technology. The company also plans to expand into adjacent growth areas, including the global aftermarket, to strengthen its medium- and long-term growth foundation.

To thank employees worldwide for their contributions over the past 40 years, Hanon Systems will distribute 40th-anniversary gifts. Each site will celebrate the milestone with events reflecting Korea & Company Group’s corporate culture, including “Proactive Concerts.”

Lee Su-il, vice chairman and CEO, said, “The dedication our employees have shown in global operations and their relentless focus on quality are what powered Hanon Systems’ rise as a global leader. This 40th anniversary is more than a milestone—it’s a new starting point to leap to the global No. 1 thermal management solutions company, built on execution and healthy fundamentals.”

Going forward, Hanon Systems plans to deploy funds generated from past operational-efficiency gains into future technologies and new business areas. By its 50th anniversary, the company aims to be recognized as the global No. 1 thermal management solutions provider across a range of industries beyond automotive.

Korea & Company Group Chairman Cho Hyun-bum is regarded as the architect of a long-term strategy: after investing in Hanon Systems in 2014, he spent about 10 years validating the company’s technology and growth potential before pursuing a full acquisition. Bringing Hanon Systems into the group in 2025 completed a future-mobility portfolio that expands the group’s tire-focused business to include batteries and thermal management systems, strengthening its global competitiveness and medium- to long-term growth base.