South Korean companies take advantage of acquisitions to enter the Chinese PV market and are optimistic about their competitiveness

With the growing strength of China's photovoltaic manufacturing, many foreign solar photovoltaic companies have started to invest in Chinese PV companies. Just last month, Hanwha Group, one of South Korea's representative companies, spent 430 billion won (approximately 2.45 billion yuan) to successfully acquire 49.9% of Linyang New Energy, a Chinese solar PV company listed on the Nasdaq Stock Market. The prelude to the foreign acquisition of domestic photovoltaic companies. Hanwha Group executives said that through this acquisition, Hanwha Group can make its battery and component production capabilities grow to the world's leading level, laying the foundation for the future development into a world leader.

“We will expand our production capacity through large-scale additional investment in the future. On the other hand, we will build the world's top R&D centers in China and cultivate Linyang New Energy into the world's largest solar photovoltaic company,” said the top executive.