Various stories brought to you by Hyosung Advanced Materials
Hyosung Advanced Materials Co. participated in the ‘Tire Technology Expo 2020’ held February 25 to 27 in Hanover, Germany. It marked the first time that the company had participated in the world’s largest tire exhibition, which demonstrated the company’s determination to expand its overseas business.The Tire Technology Expo, which started in 2000, takes place every year. This year, about 300 firms in the tire industry showcased up-to-date technology and products. The expo was accompanied by about 130 academic conferences and short-term education programs. Hyosung Advanced Materials tried to use the expo as an opportunity to promote its technology and product quality as a global tire reinforcements maker. It also put emphasis on meetings with customers and other marketing activities. Mr. Lee Tae Jung, vice president for textile reinforcements sales & marketing, attended the academic forum on tire reinforcements. He presented to the forum participants that included representatives of global tire makers Hyosung’s top-notch technology, including the high-strength tire cord that can make the tire lighter and the high-modulus tire cord that enhances the tire performance.Hyosung Advanced Materials, which has never yielded its position as the leading tire cord manufacturer since 2000, now controls 45 percent of the world market. But competition in the tire cord market is getting fierce, and the company’s decision to participate in global exhibitions like the Tire Technology Expo is part of its efforts to bolster its leading position by moving into high value-added tire markets in North America and Europe.CEO Jung Mo Hwang said, “Through the expo, Hyosung successfully strengthened partnerships with global tire makers. Taking advantage of our premier technology and product quality, we will further strengthen our global leadership by expediting operations in the high value-added markets in North America and Europe.Tire reinforcements are reinforcements made of fiber and steel wire to boost tires’ safety, endurance and performance. Hyosung produces fiber cords like nylon, polyester and lyocell and steel cords and bead wire. The company plans to invest 1 trillion won to increase production capacity for carbon fiber, which it regards as the new growth engine, to 24,000 tons per year by 2028. It also plans to increase aramid output to 5,000 tons per year by 2021.
A total of 64 articles have been added for reading.
Jeon-jin Park, manager of the Jeonju plant of Hyosung Advanced Materials was awarded a presidential citation for his role in reinvigorating the regional economy with relentless passion and dedication, in celebration of the 47th e-Business Day on Mar. 18, 2020. Throughout his twenty-seven years of service, Park (53) has contributed to the development of Korea’s carbon fiber technology as well as job creation, by making possible the first mass production of carbon fiber in Korea, securing production competitiveness through the creation of an integrated production system ranging from the processing of raw materials to the production of final carbon fiber, and attracting investments in facility expansion, based on increased productivity and enhanced quality.Park was presented the award in recognition of his efforts in making the carbon fiber one of the national strategic programs, developing the technology for domestic production of carbon fiber, a core growth engine that the city of Jeonju and Jeonbuk Province are working on, building a culture of future-oriented labor-management relations, and promoting shared growth with the local community. Seon-hong Lee, chairman of the Jeonju Chamber of Commerce and Industry, expressed his sincere congratulations to the entrepreneurs who were recognized with awards for their contributions to the development of the local economy. Lee also stressed that he would make every effort to create a business-friendly environment by ensuring that entrepreneurs are respected and by boosting their morale.
Hyosung announced on February 27, 2020 that the company recently donated KRW five hundred million and essential medical supplies to the Republic of Korea National Red Cross in order to overcome the COVID-19 (Coronavirus Disease 19) crisis in Korea.Along with the donation, Hyosung also decided to deliver the much-needed emergency medical supplies, including fifty thousand pairs of gloves for medical purposes and three thousand hand sanitizers, to aid organizations dealing with the COVID-19 crisis in Daegu and the Gyeongsangbuk-do area. The financial donation and medical supplies will be used to treat patients with COVID-19 and prevent the disease from spreading.Hyosung Chairman Hyun Joon Cho said, “Together with all our employees, I will strive to overcome the national COVID-19 crisis, which has taken us by surprise,” adding, “In particular, I would like to express my deep gratitude to all the medical personnel who are dedicated to halting the spread of the epidemic at a front-line site.”*About Hyosung : Hyosung Corporation is a South Korean industrial conglomerate, founded in 1966. It operates in various fields including heavy Industrial machinery, advanced materials, chemical industry, and textiles. Its CEO is Hyun-Joon Cho and the headquarter is in Mapo-gu, Seoul. Hyosung has a global network of about 90 sites in the U.S., China, Europe and other parts of the world, with about 30,000 employees. Tire reinforcements, spandex, and seatbelt yarns are No.1 in global market share.
Hyosung Advanced Materials Co. participated in the ‘Tire Technology Expo 2020’ held February 25 to 27 in Hanover, Germany. It marked the first time that the company had participated in the world’s largest tire exhibition, which demonstrated the company’s determination to expand its overseas business.The Tire Technology Expo, which started in 2000, takes place every year. This year, about 300 firms in the tire industry showcased up-to-date technology and products. The expo was accompanied by about 130 academic conferences and short-term education programs. Hyosung Advanced Materials tried to use the expo as an opportunity to promote its technology and product quality as a global tire reinforcements maker. It also put emphasis on meetings with customers and other marketing activities. Mr. Lee Tae Jung, vice president for textile reinforcements sales & marketing, attended the academic forum on tire reinforcements. He presented to the forum participants that included representatives of global tire makers Hyosung’s top-notch technology, including the high-strength tire cord that can make the tire lighter and the high-modulus tire cord that enhances the tire performance.Hyosung Advanced Materials, which has never yielded its position as the leading tire cord manufacturer since 2000, now controls 45 percent of the world market. But competition in the tire cord market is getting fierce, and the company’s decision to participate in global exhibitions like the Tire Technology Expo is part of its efforts to bolster its leading position by moving into high value-added tire markets in North America and Europe.CEO Jung Mo Hwang said, “Through the expo, Hyosung successfully strengthened partnerships with global tire makers. Taking advantage of our premier technology and product quality, we will further strengthen our global leadership by expediting operations in the high value-added markets in North America and Europe.Tire reinforcements are reinforcements made of fiber and steel wire to boost tires’ safety, endurance and performance. Hyosung produces fiber cords like nylon, polyester and lyocell and steel cords and bead wire. The company plans to invest 1 trillion won to increase production capacity for carbon fiber, which it regards as the new growth engine, to 24,000 tons per year by 2028. It also plans to increase aramid output to 5,000 tons per year by 2021.
Hyosung Group has published its first sustainability report since establishing its holding company, Hyosung Corporation, in 2018.The annual report is largely divided into Focus Issues & Business Cases, Sustainable Management, and Governance. Hyosung has been publishing the Sustainability Report since 2012 to disclose its sustainable management activities and achievements across the economic, social and environmental sectors. The 2020 Sustainability Report is significant in that it is the first one Hyosung has published since it officially launched its holding company, Hyosung Corporation, in June 2018 and placed four corporations, namely Hyosung TNC, Hyosung Heavy Industries, Hyosung Advanced Materials and Hyosung Chemical, under its management.In the CEO’s message, Chairman Cho said, “Hyosung will strengthen its sustainable management in order to communicate more effectively with customers, generate social values, and share business outcomes. Together with our customers, we will strive to grow into a 100-year-old company.” The Sustainability Report is available in Korean and English at the Hyosung Group website. *About Hyosung : Hyosung Corporation is a South Korean industrial conglomerate, founded in 1966. It operates in various fields including heavy Industrial machinery, advanced materials, chemical industry, and textiles. Its CEO is Hyun-Joon Cho and the headquarter is in Mapo-gu, Seoul. Hyosung has a global network of about 90 sites in the U.S., China, Europe and other parts of the world, with about 30,000 employees. Tire reinforcements, spandex, and seatbelt yarns are No.1 in global market share.
Guided by the leadership of Chairman and CEO Cho Hyun-joon, Hyosung Group is expanding its presence in the European electric power market.Hyosung Heavy Industries, a leading global electric equipment supplier, recently signed a contract with Svenska kraftnät, a state-owned public utility company in Sweden, to provide 420-kilovolt high-voltage circuit breakers, thereby laying the basis for the company’s advance into the northern European market. Hyosung first set foot in Europe in 2010 by signing a contract to provide high-voltage transformers to the National Grid, a multinational electricity and gas utility company headquartered in London.Under the contract with the Swedish utility company, Hyosung Heavy Industries plans to supply 420-kilovolt high-voltage circuit breakers to power substations in southern Sweden.The contract with Svenska kraftnät proves that Hyosung Heavy Industries’ technology and product quality are sufficiently competitive to be recognized by European utility companies, which usually set strict standards for suppliers. Based on this confidence, the company plans to expand its presence further in northern, eastern and western Europe by strengthening its partnerships with local companies in the fields of engineering, procurement and construction.In line with Chairman Cho’s “Voice of the Customer (VOC)” policy that prioritizes customers, Hyosung Heavy Industries has been bolstering its efforts to supply products that meet the needs of customers in terms of technology and quality. The contract with the Swedish utility company is also the outcome of the company’s marketing efforts to promote its high-quality equipment over the past three years.Chairman Cho said, “Taking advantage of our world-top-class technology, Hyosung Heavy Industries will continue to expand its supply of electric equipment in the global market. The company will also strive to become a global “total solutions” provider that offers maintenance and repair services, as well and taking up future energy business and strengthening the VOC policy to ensure that even the smallest customer voices are heard.”It is estimated that the market in Sweden and other European countries will grow at an annual average rate of 5 percent over the next 10 years due to the need to replace or refurbish old power grid and transmission and distribution equipment. The circuit breaker market alone is worth more than 200 billion won, while those for transformers, substations and new and renewable energy are expected to expand rapidly. *About Hyosung : Hyosung Corporation is a South Korean industrial conglomerate, founded in 1966. It operates in various fields including heavy Industrial machinery, advanced materials, chemical industry, and textiles. Its CEO is Hyun-Joon Cho and the headquarter is in Mapo-gu, Seoul. Hyosung has a global network of about 90 sites in the U.S., China, Europe and other parts of the world, with about 30,000 employees. Tire reinforcements, spandex, and seatbelt yarns are No.1 in global market share.
More than 10 million people have so far visited My Friend Hyosung (blog.hyosung.com), Hyosung’s official blog. Hyosung is holding an event titled “the 10 Million” from December 17 to 26, 2019 to thank blog visitors and customers. To join the event, you can vote for the content you consider to be the best and leave a comment on the blog. A draw will be held on December 31 to give away prizes including Air Pod Pro, movie tickets, and beverage coupons to 1,000 people. The company has been using the blog as a channel of communication with its customers by offering various kinds of useful information in plain language including Hyosung’s businesses, employees’ stories, and job opportunities. The blog has a total of 4,546 posts, and it has won 5 awards so far including Best Organizational Communication Blog Award at the 28th Korea Communication Awards 2018. Hyosung is the first B2B company to open a blog in 2010, and it is currently operating a Facebook account and a YouTube channel. Hyosung’s passion for communication has been driven by Chairman Hyun-Joon Cho who is keenly interested in communicating with customers. “Hyosung will be a company that listens to customers. The voice of customers is the alpha and omega of our business activities,” Chairman Cho stressed in his inaugural speech. Since taking office as chairman, Cho has been implementing the voice of customer-based principles in all aspects of his business management and personally meeting with global customers as part of his efforts to communicate better with customers. *About Hyosung : Hyosung Corporation is a South Korean industrial conglomerate, founded in 1966. It operates in various fields including heavy Industrial machinery, advanced materials, chemical industry, and textiles. Its CEO is Hyun-Joon Cho and the headquarter is in Mapo-gu, Seoul. Hyosung has a global network of about 90 sites in the U.S., China, Europe and other parts of the world, with about 30,000 employees. Tire reinforcements, spandex, and seatbelt yarns are No.1 in global market share.
