Various stories brought to you by Hyosung Advanced Materials
A total of 140 articles have been added for reading.
Hyosung Advanced Materials has acquired the ISCC (International Sustainability & Carbon Certification) PLUS, the first of its kind ever achieved by a tire cord business the world over.As a certification concerning sustainable, low-carbon products corresponding to the EU’s Renewable Energy Directives (RED), ISCC PLUS is an accredited certification requiring stringent verification concerning the raw materials used and overall production/distribution process. Said certification is about the tire cord production process using eco-friendly raw materials like “Bio-based PET”1), “Mechanical Recycled PET”2), and “Chemical Recycled PET.”3) Hyosung Advanced Materials engages in the production of tire cord using industrial Bio-PET fiber yarns made of raw materials extracted from vegetables and high-performance Recycled PET fiber yarns developed by it through the use of raw materials extracted from waste PET bottles. It is also striving to develop Bio-based Nylon fiber yarns and tire cord to meet more diverse eco-friendly needs. Eco-friendly certification concerning raw materials/part is very important but not an easy thing to do, and it can contribute to the expansion of eco-friendly products of front-line industries. Nowadays, carmakers including BMW are increasing the application of eco-friendly materials amid the heightened interest in sustainability. Global tire makers such as Bridgestone and Hankook Tire have also acquired ISCC PLUS certification, indicating their attention to eco-friendly products. “Said certification is a result of our R&D effort to enhance overall sustainability. We’ll strive to play a leading role in the eco-friendly products market through cooperation with customers’ businesses both in and out of the country using the certification as a momentum,” Company President Lee Kun-jong said, commenting on the matter. Having selected the following as its top 3 green management-related strategic directions, Hyosung Advanced Materials is carrying out related R&D activities: Zero Emission, Zero Waste, and Zero Impact. In its tire cord sector, the Company plans to convert all its PET tire cords into eco-friendly materials by 2050 in step with what global tire manufacturers are doing. Likewise, the Company has acquired the Global Recycled Standard (GRS) certification in its industrial fiber yarns sector. In its carpet sector, the Company is supplying vehicle mats made of Bio-PET fiber yarns for EVs and hydrogen vehicles. It goes to show that the Company is striving to expand eco-friendly products in many of its business sectors. 1)Bio-based PET – An eco-friendly polyester material made with Bio-Ethyleneglycol (EG) extracted from sugar canes and corns instead of crude oil-based EG used as a raw material of polyester 2)Mechanical Recycled PET – PET recycled through the physical reprocessing of waste PET bottles after washing and crushing them3)Chemical Recycled PET – PET recycled through the chemical reprocessing of waste PET bottles, i.e., de-polymerization using high temperature and pressure
Hyosung Advanced Materials has succeeded in the development of ultra-high-tensile carbon fiber, taking one step closer to standing completely on its own in the production of aeronautic materials. Hyosung Advanced Materials announced on October 12 that it succeeded in the development of ultra-high-tensile carbon fiber H3065 (T-1000 class) whose tensile strength and elasticity are at least 6.4㎬ and 295㎬, respectively. The remarkable achievement is the result of an inter-ministry technological development program started in August 2017 and participated in by the Agency for Defense Development (ADD) and the Institute of Civil-Military Technology Cooperation (ICMTC) with investment from the Ministry of Trade, Industry, and Energy (MOTIE). □ The technology can be used in many sectors such as aeronautics and defense and is essential in development in aeronauticsHyosung Advanced Materials has produced carbon fiber H2550 (tensile strength: 5.5㎬ / elasticity: 250㎬, T-700 class), which is chiefly used in △ hydrogen fuel tanks, △ electric cable core, △ PV thermal insulation, △ sports, etc., as its tensile strength is ten times that of steel. In contrast, the newly developed one boasts of tensile strength that is 14 times that of steel, and it is used in a variety of sectors such as aeronautics and defense to make airplane fuselage/parts and projectiles like satellites. Especially, ultra-high-tensile carbon fiber is an indispensable material for the development of projectiles and satellites. Compared to materials like aluminum used to make projectiles, it is much lighter with excellent elasticity and tensile strength. Thus, it makes the weight of projectiles lower and enables them to withstand the high load weight and exert high propulsion. A projectile made of it uses less fuel, which means that it is possible to raise the weight of payload. Such material was used in the payload pairing protecting the body of the recently launched satellite Nuri. According to an informed source in defense, the use of such carbon fiber in a projectile brings about maximization of light weight, which means an improvement in speed and maximum range.□ Hyosung Chairman Cho Hyun-joon: “The feat has made Korea the third country to develop ultra-high-tensile carbon fiber after the United States and Japan, and it will contribute greatly to the development of the country’s carbon fiber industry.”T-1000 class carbon fiber has been made only by the United States and Japan as it requires highly sophisticated technology concerning △ raw material polymerization, △ radiation, △ elasticity, etc. “The great achievement has put the country right next to the United States and Japan in the production of ultra-high tensile carbon fiber. We’ll continue to develop more sophisticated carbon fiber materials and do what we can to contribute to the country’s development of carbon fiber industry,” Hyosung Chairman Cho Hyun-joon said, commenting on the matter.For his part, Director Bang Yoon-hyuk of the Korea Carbon Industry Promotion Agency noted that the country has relied on imported materials for carbon fiber used in aeronautics, defense, future mobility, etc. “The development of the highly sophisticated material by Hyosung makes us expect a great turnaround in the overall situation. It means that those in the country have secured a stable supply network of materials that will serve as the basis for the growth of the country’s aeronautic and for joining the ranks of topnotch countries in the core technology of sophisticated carbon fiber,” he added. According to business observers, the feat means that Hyosung Advanced Materials has taken one step closer to its objective of ranking among the Global Top 3 in the carbon fiber sector and secured solid competitiveness in said sector, which it regards as a new sector that will provide continued growth and jobs. (Unit: 1,000 tons) Source: Fuji Economic Research InstituteAccording to the Fuji Economic Research Institute of Japan, the global PAN-based carbon fiber market is expected to post a 10% growth (annual average) from 85,790 tons in 2021 and reach about 327,430 tons by 2035. As for the use of carbon fiber in global markets as of 2021, wind turbine blades (39%) topped the list, followed by △aeronautic (15%) △ sports/leisure (12%), and △ vehicles (7%).With the development of “H3065” carbon fiber, Hyosung Advanced Materials can make forays into the high value-added aeronautic carbon fiber market, which accounts for 15% of the global carbon fiber market in terms of quantity (more than 30% in terms of amount). Hyosung Advanced Materials plans to wind up its follow-up research for application within the shortest period of time through cooperation with the relevant institutions. In 2011, Hyosung Advanced Materials developed on its own TANSOME®, a high-performance carbon fiber, for the first time ever in the country. The Company has produced it in its factory in Jeonju, Korea since 2013. Hyosung Advanced Materials plans to invest one trillion won to increase the production capacity of said factory to 24,000 tons a year by 2028. At present, it is carrying out phase 3 of said expansion (from 6,500 tons to 9,000 tons a year).
Hyosung Social Work Volunteers engaged in the work of taking care of children with disabilities of a municipally run child care center named Janggunbong at a kids’ café in Bongcheon-dong, Seoul. Said volunteers resumed their activities after two years of absence due to COVID-19, taking care of children including toddlers and infants engaging in ball pool, magnet experiments, and climbing. The team of Hyosung’s volunteers started its activities in May 2013, lending support for children at the municipally run Janggunbong Child Care Center by paying a visit there at least once a month. They had to stop their activities in 2020 and 2021 due to COVID-19. Instead, they launched Theme Day, which included a program carried out monthly within the facility for children including igloo, bumper car, dinosaur play, etc. They strived to build affinity among the children, disabled and non-disabled alike.Meanwhile, on September 23, Hyosung held a fall trip wherein family members of children with disabilities spent time with those of employees. Hyosung also engages in activities of sharing with the disabled including providing support for the production of barrier-free films for the visually/hearing-impaired.
Hyosung Advanced Materials, together with the Jeonju-si and National Institute of Ecology (NIE), held on September 29 an event of planting Jeonju Mulggoripul (Speedwell), which is endangered species Gr-2, in Jeonju Giraffe Park.Said event was part of the activities included in the MOU for the Preservation of Biodiversity and Dissemination of Ecological Culture signed by Hyosung and NIE last May. Hyosung Advanced Materials came to take part in the project for restoration of said plant as a business running a carbon fiber factory in Jeonju. As its first step taken under said MOU, Hyosung paid the expense for the formation of the ground for growing said plants and donated 2,000 of them. The two will work together to increase the number of plants planted each year and expand the ground for growing them in cooperation with the Jeonju-si.Said plant was named after Jeonju where it was first discovered in 1912. As plant’s its habitat is disappearing due to environmental destruction, it has been designated as endangered species Gr-2 for protection. The light red flowers are expected to come out by October in the newly formed ground for restoration in said park. By then, the place will be the favorite destination among the locals. “We are very happy to do something, albeit small, for the restoration of the endangered plant. We’ll continue to lead others in the effort for the preservation and promotion of biodiversity,” Mr. Lee Kun-jong said, commenting on the matter.The Company has engaged in activities for the preservation of biodiversity including plogging (jogging while picking up litter) at Hangang River, cleaning beaches, protection of endangered species, and removal of ecosystem-disturbing species while awakening employees to the need for such, seeing the heightening of the crisis on biodiversity amid climate change.
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Hyosung employees, together with those from the Purme Foundation, took a fall season trip to places in Gyeonggi-do, being accompanied by the families of young people with disabilities on a three-day schedule from Sept. 23. The said event is part of the programs for rehabilitation treatment of children/young people with disabilities provided jointly by Hyosung and the Purme Foundation. The event held in the fall of 2022 was participated by a total of 51 people among ten families of Hyosung employees and nine families of children/ young people with disabilities. The group (each team consisting of the family of an employee and the family of a person with disabilities) had a good time for two nights & three days. On day 1 (Sept. 23), they saw the sight of a bamboo forest and the place where the popular drama Autumn in my heart was shot on Namiseom Island in Gapyeong. They also had a recreation time to encourage dialogues and communication between participants. On day 2, they paid a visit to a village in Yangpyeong and had a hands-on experience with making sundubu (soft tofu) and injeolmi, and catching trout in the stream. On Day 3, they took part in the event of making tomato gochujang (red pepper paste) and feeding animals, and strolled around inside the Yulbom Botanical Garden in Gwangju.Commenting on the trip, the mother of a disabled child said, “Due to my child’s disability status, we always found it not easy to take a trip with the whole family. This time, we could have a good time and experience a lot of things this time thanks to the well-arranged daily schedule. My child said that he would like to take another trip like this.” A Hyosung employee who took the trip said, “We could teach our kid how to get along with fellow friends with disabilities. We talked to each other a lot and did many activities that will be cherished as a fond memory.”Hyosung, together with the Purme Foundation, has provided support funds for medical rehabilitation of children with disabilities since 2013, along with the support for mental health care and education for siblings of children with disabilities, who are prone to feel alienated due to the need and efforts to take care of their disabled siblings. Last July, the Group arranged for a trip for 15 able-bodied siblings of children with disabilities.
Hyosung Ventures, which is Hyosung’s first Corporate Venture Capital (CVC), has officially launched and is established with Hyosung Corporation’s investment of KRW 10 billion in paid-in capital. On Sept. 23, the Company said that it has completed the process of getting it registered as a new technology project financial business.Hyosung Ventures plans to enable the Group’s source technologies for core materials to gain traction independently without relying on imported technologies through investments in startups specializing in materials, parts, and equipment, which can maximize the Group’s core businesses and synergistic effects. The Company also plans to make bold attempts at new business areas like ICT and data aligned with the era of digital exchange (DX) to contribute to establishing an ecosystem, growing in partnership with the businesses that it invests in, while exploring and developing businesses with new technologies in a variety of fields.Hyosung Chairman Cho Hyun-joon has highlighted the importance of agile management amid the rapid-paced traction of DX, commenting that, “We should embrace and leverage data-centered new technologies and trends rapidly, flexibly, and efficiently.”The mantle of Hyosung Ventures’ first president has been assumed by Mr. Kim Cheol-ho, who was a former vice president at Hyosung Corporation’s Strategy Division. He has accumulated relevant experience with an accomplished career in investment banking, etc. at Iljin Investment Partners, STIC Investments, Deutsch Bank, etc.Hyosung Ventures will engage in consultations with relevant departments and affiliates concerning the raising of paid-in capital with a fast turnaround time.
