Hanwha Group (Korean: 한화그룹; RR: Hanhwa Geurup) is a large business conglomerate (chaebol) in South Korea.[1] Founded in 1952 as Korea Explosives Co. (Korean: 한국화약주식회사; Hanja: 韓國火藥株式會社), the group has grown into a large multi-profile business conglomerate, with diversified holdings stretching from explosives, their original business, to retail to financial services. In 1992 the company adopted its abbreviation as its new name: "Hanwha".