Various stories brought to you by Hyosung Advanced Materials
A total of 100 articles have been added for reading.
Hyosung Advanced Materials attended the SDG Ambition Program Launching Ceremony, which sets high goals in companies to achieve the UN Sustainable Development Goals (SDGs) on Thursday, November 18. More than 700 companies from 49 countries around the world will participate in the second round of the SDG Ambition Program, which operates for six months, while total of 11 companies, including Hyosung Advanced Materials, will participate in Korea. Hyosung Advanced Materials plans to set ambitious corporate goals through this program and accelerate the integration of SDGs at the core of corporate strategies.
Hyosung turned over 20 million won in support funds for the production of barrier-free films at the 11th Seoul Barrier-Free Film Festival opening ceremony.Celebrating the 5th year of sponsorship by Hyosung this year, the project reproduces movies to enable the visual- or hearing-impaired to enjoy them without restrictions. With the sponsorship of Hyosung, nine barrier-free versions of steady-selling films, including Billy Elliot and Late Night Restaurant 2, have been produced so far. Moreover, as part of social contribution activities, Hyosung′s employees directly participated in dubbing the movie Dream Builder. They are changing the perception of barrier-free films by also donating their talents for the recording of audio intros for the movies Dream Builder and Moving on.″I have been reading a lot of books to my four-year-old child instead of going out due to the COVID-19 pandemic and accepted the opportunity for dubbing. I am so happy to be able to understand barrier-free movies better,″ said a Hyosung employee who participated in the dubbing of Dream Builder. Hyosung is carrying out various sponsorship activities to create a society where people with disabilities can enjoy culture and art without restrictions. It has sponsored the Jamsil Creative Studio of the Seoul Foundation for Arts and Culture to support the production and exhibition of 12 artists with disabilities and sponsored the Onnuri Sarang Chamber Orchestra to help in the music activities of students with developmental disabilities.
Hyosung announced on November 4 that it had donated 30 million won to the Mapo-gu Social Welfare Council to support low-income families in Mapo-gu, Seoul.Hyosung has been supporting the vulnerable groups in the Mapo region through the Mapo-gu Social Welfare Council since 2013. The funds are used for emergency fiscal support, such as living expenses, medical expenses, and housing costs.The delivery ceremony held at the Mapo Welfare Center was attended by Representative Noh Woong-rae (Mapo-gu Gap District), Mapo-gu Social Welfare Council President Kim Dae-yeol, Choi Young-beom, and Hyosung Communication Director (Vice President) Choi Young-beom.Hyosung is also carrying out sharing activities with its neighbors in local communities near its domestic business sites, such as Mapo-gu, Seoul. In May, the company awarded scholarships to middle and high school students from vulnerable families in Mapo-gu through the Mapo Human Development and Growth Foundation. Moreover, it has been sponsoring the Warm Winter fundraising event for low-income families in Mapo-gu since 2010, and it has continued activities such as delivering Rice of Love and Kimchi.
The Jeonju plant of Hyosung Advanced Materials was selected as a successful winner in the 2021 Hope Sharing Campaign on October 20th and received the official commendation from the Jeonbuk provincial governor.The winners of the 2021 Hope Sharing Campaign are selected parties and individuals who have contributed to the promotion of community welfare and the spread of sharing culture. Jeonju plant received this award in recognition of the volunteer works and contribution it has been carrying out since it started operation in 2013.Jeonju plant will continue to contribute to the local community by factory expansion and ensuring quality competitiveness.
Hyosung Group donated on 14th the daily necessities of love to patriots and veterans on Hangawi, the Korean Thanksgiving Day. Hyosung contributed 200 sets of tuna cans and hams for the veterans and patriots′ families to the Seoul Southern Regional Office of the Ministry of Veterans and Patriots Affairs. The sharing of the daily necessities of love on this occasion is delivered to the meritorious persons registered in the Seoul Southern Regional Office and the recipients of domiciliary care service. Hyosung launched the sharing of Hyosung′s donation of the daily necessities of love in 2015 and has delivered the donation to the vulnerable social group and the veterans and patriots four times a year. A Hyosung official said, ″in celebration of the Chuseok, the national holiday, we are hosting an event of the ′sharing of the daily necessities of love′ to express our feelings of gratitude to the veterans and patriots who dedicated their lives and sacrificed themselves to serve their country″. Meanwhile, last June, Hyosung sponsored the washing cafe and delivered KRW 10 million in solatium and 20 dehumidifiers to Gwanggaeto, which is the army unit in the sisterhood relationship with Hyosung, for the welfare of the officers and men of the armed forces.
Hyosung Group Chairman Cho Hyun-joon sets out to take over the U.S. market, the largest global market in preparation for the post-coronavirus era in earnest. Hyosung said on 13th Chairman Cho recently made successive visits to the ultra-high voltage transformer plant of Hyosung Heavy Industries in Memphis, Tennessee and the US corporation of Hyosung TNS in Dallas, Texas.The visits on this occasion were made as part of management by wandering around for the flagship businesses′ invasion of the U.S. market. Such move is made by the strategic judgment that it is imperative to gain recognition of technology and quality in the U.S., the key market, and penetrate the U.S. market ahead of the competitors in an attempt to solidify the world′s no. 1 position in the global market in the wake of the COVID-19 pandemic and gain a momentum to expand the new markets. The Biden administration has recently unveiled its plan to invest about 1.2 trillion dollars for the improvement of infrastructure such as electrical grids and new renewable energy, etc. A rapid growth is expected around the high-tech industrial fields such as SOC project, energy and automobile. In response, Chairman Cho emphasized, ″the U.S. is the core of the global market which is rapidly changing in the post-coronavirus era″, and ″it is imperative to increase the dominant power in the U.S. market based on the meticulous localization strategies and customer-oriented preemptive action″. □ Chairman Cho, Discussing Mutual Cooperative Plan with the Tennessee Senator Bill Hagerty Early September, Chairman Cho made a visit to the ultra-high voltage transformer plant in Memphis, Tennessee, which is the first U.S. production base in the heavy industry field and checked the trends and prospect of the U.S. market, and the future strategies, etc. Chairman Cho also met with Tennessee Senator Bill Hagerty to ask for the support and cooperation in performing businesses in the U.S., toured the production site in Memphis together Senator Bill Hagerty worked as an entrepreneur for a long time and mobilized investments in Tennessee from global companies while working in the department of the development of economy and local community of Tennessee′s state government during the period from 2011 to 2014. He served as an ambassador to Japan during the Trump administration and works as the Tennessee Senator starting from January this year. On this occasion, Chairman Cho expressed his appreciation for the support of the Tennessee State and said, ″I will make efforts to nurture the experts of heavy industry technology in the local community, and strengthen the partnership with electrical power companies, thereby contributing to the achievement of a win-win situation with the local communities in Tennessee and the improvement of the infrastructure in the U.S. electrical power market″.Senator Bill Hagerty responded that he will spare no efforts for the diversified and full support to grow the Memphis plant and expand the business at the federal government level. Chairman Cho proposed the business cooperation with the Tennessee Electric Power Board to Senator Hagerty and they discussed the plan to operate the industry-academia liaison program with major universities in Tennessee State to nurture technical manpower in the heavy electrical field. Chairman Cho also said he will provide support for the establishment of the part supply system using local companies. The Memphis plant is pushing for the extension of installations by the end of the year to increase production. Upon completion of the extension, the Memphis plant will have the production capacity of 60 ultra-high voltage transformers a year. It is the two-fold increase compared with an initial goal and at least 100 million dollars is expected in sales next year. Hyosung plans to utilize the Memphis plant as a bona fide foothold for the U.S. market in the heavy industry field. In addition, Hyosung will respond to the future demand for the replacement of electricity infrastructure in the U.S. and start in earnest to make inroads into the new renewable energy markets such as Energy Storage System (ESS) and STATCOM (Static Synchronous Compensator). □ Making a Visit to the ATM Showroom of Hyosung TNS and Demanding Innovation Along with Digital Banking Chairman Cho made a visit to Nautilus Hyosung America (NHA), which is the U.S. corporation of Hyosung TNS in Dallas, Texas on 10th (local time). He inspected the NHA showroom and products and sought for the plans to target the markets such as the future marketing strategies. After entering the U.S. market in the mid 2000′s, Hyosung TNS has occupied the market share of 73% in the small ATM market with a focus on the customer-oriented marketing, taking the first place in sales. ATM products are supplied in large numbers to major banks, capitalizing on the differentiated functions such as recycler. Chairman Cho met with financial and IT experts in the U.S. to discuss the rapidly changing market trends. Meanwhile he demanded the U.S. corporation of Hyosung TNS should set out on the rigorous innovation and technological development to survive in the market, while keeping abreast with the U.S. financial and settlement trends going digital at an accelerating speed. Hyosung TNS plans to strengthen the cooperation with the U.S. financial institutions to embark on the development of software and platform such as kiosk for cryptocurrency transactions. □ Focus Efforts on Automotive Parts and Materials to Embrace the Era of Electric Cars and Hydrogen Powered Cars Meanwhile, Hyosung reinforces its efforts to target the U.S. automobile market which has clearly entered the upward trend in the post-COVID-19 era. The US major automakers declared that they will expand the share of electric cars up to 50% until 2030 and the markets for automotive parts and materials are expected to grow rapidly.Hyosung focuses its efforts on the development and expansion of supply of tire cord for electric cars and hydrogen powered cars, while planning to spur the development of advanced materials such as aramid to be used in tire cord for electric cars, and automotive materials such as carpets, etc. ※ Reference: Trends of Hyosung′s U.S. Businesses- After initially entering the U.S. market in the 1980′s, Hyosung has so far invested about 3 billion dollars and currently runs 6 corporations including three manufacturing corporations and three sales corporations. Last year, about 1.2 billion dollars was recorded in sales and at least 1.6 billion dollars in sales is expected this year. About 1,400 employees are hired. - Manufacturing corporations include the ultra-high voltage transformer plant in Memphis, Tennessee, the tire cord plant in Decatur, Alabama, and the airbag fiber plant in South Hill, Virginia, while the sales corporations sell the fiber products, tire cord, carbon fiber, ATM products, etc.
