Hanon Systems (018880), the automotive thermal management unit of Korea & Company Group, has set a target to become the world’s No. 1 thermal management solutions provider by 2036, its 50th anniversary.
Hanon said on March 10 that it unveiled the growth vision ahead of its 40th anniversary on March 11.
The company currently supplies automotive thermal management systems from 50 manufacturing plants and three research and development centers worldwide. Industry analysts rank Hanon as the second-largest global manufacturer in automotive thermal management, trailing only Denso, a Toyota Group affiliate.
To reach its goal, Hanon plans to accelerate expansion beyond traditional automotive thermal technologies. It will target infrastructure sectors that demand high-efficiency thermal solutions—such as cooling systems for rapidly growing data centers—and broaden its related business portfolio.
That strategy would position Hanon as a core infrastructure partner across industries that require thermal-management technology, rather than solely as an automotive HVAC parts supplier. The company also aims to expand into adjacent growth areas, including the global aftermarket, to strengthen its mid- to long-term growth foundation.
Lee Soo-il, vice chairman and CEO, said, “The dedication of our employees in global operations and their commitment to quality have driven Hanon Systems’ rise as a global leader. This 40th anniversary is more than a milestone — it marks a new starting point to leap to the world’s No. 1 thermal management solutions company, grounded in disciplined execution and solid fundamentals.”
