Various stories brought to you by Hyosung Advanced Materials
A total of 93 articles have been added for reading.
Hyosung is sponsoring the non-face-to-face support with AI caring robot project for elderly veterans' families through the Southern Seoul Veterans Affairs Office. On May 31, Hyosung delivered a donation of 40 million won to the Southern Seoul Veterans Affairs Office. This donation will be used for non-face-to-face customized care services for people of national merit and veterans' families. The program was created to support elderly veterans living alone who have limited face-to-face activities due to COVID-19.The AI caring robot will be delivered to veterans registered with the Southern Seoul Veterans Affairs Office. Deundeun and Bohun, the AI robots, will help the elderly living alone and veterans’ families with 24-hour life management, meals, medications, and reminders for hospital reservations. Moreover, they are equipped with safety management functions that can respond to an emergency with motion sensors considering the age of the people they are supporting.Hyosung has been carrying out patriotic and social contribution programs, such as “Exploring the historical treasures” and “Delivery of living necessities” for veterans and people of national merit for four years since 2017. On May 4, the company provided non-face-to-face oral health education, customized preventive healthcare education, and support for dental treatment expenses for the children with developmental disabilities at Purme Foundation’s Nexon Children’s Rehabilitation Hospital as part of its social contribution activities for neighbors suffering from the COVID-19 pandemic.
Hyosung's airbag will be reborn as eco-friendly clothes in conjunction with "Kanghyuk," a brand that is drawing attention in the global fashion industry.□ Rolls out in May collection of Kanghyuk upcycled clothes made of Hyosung Advanced Materials’ airbagHyosung Advanced Materials announced on May 3 that it has supplied for free airbag fabrics to the industrial fashion brand “Kanghyuk.”The airbag fabrics provided by Hyosung Advanced Materials, which are enough for 700 jackets, are not sellable because their sizes do not fit into airbags. Kanghyuk will showcase a collection of 23 kinds of clothes, including ski suit-like jackets and pants out of the fabrics.An eco-friendly upcycling fashion brand, Kanghyuk, produces eco-friendly clothes. Run by Choi Kang-hyuk and Sohn Sang-rak, designers who are drawing attention in the global fashion industry, the brand is famous for its eco-friendly fashion products made of things like airbags used in cars like Mercedes-Benz and car ceiling materials. What’s special about them is that its products retain the original logos and bar codes printed in the airbags and their sewing lines. Hyosung Advanced Materials produces not only airbag fabrics but also various industrial materials such as seat belt fibers, aramid fibers, carbon fibers, and carpets. On the occasion of the support for Kanghyuk, it will set out on earnest collaborations by supplying more materials. It is noteworthy that Hyosung's eco-friendly fibers, which have acquired the global recycled standard (GRS), share the direction of sustainability the Kanghyuk brand pursues.Kanghyuk is brining fresh wind to the global fashion market. It won the 2021 "Samsung Fashion Design Fund (SFDF)” and advanced to the semifinals of the "LVMH Prize," which is called a Nobel Prize in fashion, in 2019. Recently, famous foreign rappers and designers, as well as Korean hip-hop stars, have worn Kanghyuk clothes, which lifted its reputation as hip clothes "fashion people" wear. Meanwhile, Hyosung TNC also plans to pursue a collaboration project with Kanghyuk. Under the project, Hyosung TNC will provide "Regen" fibers made of recycled transparent PET bottles and other functional materials, which Kanghyuk will make into eco-friendly clothes such as T-shirts and outerwear for sales at home and abroad.□ Eco-friendly collaboration initiated by Hyosung Chairman Cho Hyun-joon The collaboration project was put through after Chairman Cho Hyun-joon, who had been interested in eco-friendly fashion and textile trends, made a proposal to Kanghyuk.Cho made the proposal in the belief that Kanghyuk which makes clothes out of recycled materials and Hyosung which purses the value of sustainable management, including manufacturing of eco-friendly fibers out of discarded PET bottles, will share a value and contribute to the ethical "value consumption" favored by the MZ generation.Hyosung expects that the latest collaboration will help expand the domestic and foreign eco-friendly fashion market and raise consumers' awareness of recycled products.Prior to the collaboration project, Hyosung had been leading the domestic eco-friendly fashion market, expanding the supply of eco-friendly fibers like "Regen Seoul," "Regen Jeju," and "Regen Ocean," which utilize recycled transparent PET bottles.Recently, it has launched G3H10, a Regen brand, through the Wadiz crowd funding platform, and produced clothes with eco-friendly fashion brand Pleatsmama, which helped it take a strong position as a leading eco-friendly company.
Hyosung Advanced Materials will be enlarging its Jeonju carbon fiber plant to increase its annual production capacity to 6,500 tons.Hyosung Advanced Materials announced on May 3 that it will invest 75.8 billion won to expand its carbon fiber production lines at its plant in Jeonju, North Jeolla Province. It will be able to produce 6,500 tons per year by July next year. In 2020, the company had already expanded its output from 2,000 tons to 4,000 tons per year.The addition of production facilities is aimed at responding to the increasing demand for carbon fibers used in fuel tanks of hydrogen cars that are emerging as an eco-friendly car of the future and high-pressure containers for compressed natural gas (CNG).Hyosung Advanced Materials developed Korea's first high-strength, mid-elasticity carbon fiber “TANSOME®” in 2011 based on its own technology. It has been producing it at its Jeonju plant since 2013. Called "dream material," carbon fiber, is one-fourth as light as iron, but is 10 times as strong, so it is used as an alternative material to iron in automobiles, wind power equipment, aerospace, and sports leisure equipment.The factory expansion is part of the large-scale carbon fiber investment plan announced in 2019. Another 1 trillion won will be invested by 2028 to add carbon fiber production lines to the Jeonju plant for an annual output of 24,000 tons.
Hyosung has launched the ESG Management Committee, setting into motion efforts to establish a sustainable management system that would help make the group a 100-year company □ Transparent Management Committee under the Board of Directors reorganized into ESG Management CommitteeHyosung Corporation, holding company of the Hyosung Group, announced that it held a board meeting on April 29 to reorganize the Transparent Management Committee under the Board of Directors that had dealt with improvement of governance into the ESG Management Committee to strengthen ESG management in the fields of environment, society and governance. The establishment of the ESG Management Committee is aimed at proactively responding to demands from customers, society, and shareholders to ensure environmental protection and social safety nets.The ESG Management Committee will be responsible for ESG-related policy, risk strategies for ESG policy, and investment and activities on the environment, safety, and climate change, as well as deliberation of transactions between specially related persons and decisions of management matters to protect shareholders' rights which had been dealt with by the Transparent Management Committee.□ At least two-thirds of outside directors sit in the committee which will decide key ESG management-related issuesThe ESG Management Committee consists of five members -- CEO Kim Kyu-young and four outside directors (Chung Sang-myeung , Kim Myung-ja, Kwon O-gon, and Chung Dong-chae). Considering the importance of ESG, one outside director was added to the Transparent Management Committee which had had four members. Former Prosecutor General Chung Sang-myeung, outside director who headed the Transparent Management Committee, will continue to chair the new committee. In addition to the holding company, major affiliates such as Hyosung TNC, Hyosung Advanced Materials, Hyosung Heavy Industries, and Hyosung Chemical also plan to set up an ESG Management Committee under their respective CEOs in the first half of the year.Chairman Cho Hyun-joon said, "ESG management is an identity that Hyosung must have in order to make a leap toward becoming a premium brand in the global market. He expressed hope that "Hyosung will grow into a '100-year company’ loved and trusted by shareholders and society by protecting the environment and enhancing righteous and transparent management, and seeking growth together with partner companies."□ Hyosung leads ESG by establishing Transparent Management Committee and strengthening eco-friendly businessesHyosung Group split into a holding company and four business units in 2018 in order to improve its governance structure through enhancement of transparent management and establishment of an independent management system. The transition to the holding company system was completed at the end of last year.In 2018, Chairman Cho broke the practice of the CEO serving as chair of the board of directors and stepped down as chair of the board, paving the way for an outside director to serve as chairperson. He also established the Transparent Management Committee and strengthened the independence of outside directors by having an outside director chair the outside directors recommendation committee.Hyosung has been expanding eco-friendly energy businesses such as fiber recycling, hydrogen, solar, and ESS, and strengthening eco-friendly management by making efforts to reduce carbon dioxide emissions.
Hyosung Advanced Materials participates in the “Seoul ESG CEO Pledge” at the 18th B.E.S.T Forum CEO Pledging Ceremony. Hyosung Advanced Materials participated in the “18th B.E.S.T Forum CEO Pledging Ceremony” which aims to promote sustainable innovation and ESG management in the industry. Hwang Jungmo, CEO of Hyosung Advanced Materials, said “We will continue to pursue ESG management and take the lead in providing responsible leadership to stakeholders.“ as a pledge of "Seoul ESG CEO Declaration".
Hyosung Advanced Materials received the Carbon Management Honors Club and Carbon Management Sector Honors at the 2020 CDP Climate Change Response/Water Management Awards held at Hotel Glad Yeouido on April 28. Hyosung was given the Carbon Management Sector Honors.The Carbon Management Sector Honors award is given based on CDP’s evaluation to companies with the highest rating in the sector. Hyosung Advanced Materials and Hyosung received A and A- ratings, respectively, in the raw material sector.Hyosung Advanced Materials in particular was honored with the Carbon Management Honors Club, which is given to the top five companies, for having received the highest score regardless of industry.London-based NGO CDP (Carbon Disclosure Project) discloses the climate change strategy, greenhouse gas emission information, and carbon management strategy of major listed companies in 91 countries to provide the assessment data to leading financial institutes such as pension funds. The CDP score, along with the Dow Jones Sustainability Index and FTSE4GOOD (Socially Responsible Investment Index), is the most respected indicator for the evaluation of climate change response, an area of corporate sustainability management. More than 9600 companies worldwide participated in the 2020 CDP evaluation of environment management. As a result of the CDP evaluation for 2020, the CDP Korea Committee selected 18 out of 200 domestic companies for Carbon Management Sector Honors. The award is in recognition of the company’s preemptive efforts to respond to climate changes. Hyosung and Hyosung Advanced Materials establish and implement the green management strategy, including response to climate changes, through the specialized Committee directly led by the top management. They have made every effort to invest in eco-friendly facilities and systems and apply eco-friendly processes and engineering to minimize the impact of manufacturing on the environment. Moreover, each business division has led the development of lightweight products and eco-friendly materials to reduce greenhouse gas emissions at the use stage.“As a global materials company with the world's leading products, we intend to expand the emission management domain not only in Korea but also overseas subsidiaries. We will use this award as an opportunity to establish ourselves as a leading company in carbon reduction through active emission reduction activities,” said Hwang Jeong-mo, CEO of Hyosung Advanced Materials.