Hyosung Advanced Materials

Hyosung Advanced Materials acquires ‘Gold Medal’ from EcoVadis for 2 consecutive years.

Hyosung Advanced Materials Corporation has obtained a "Gold " medal 2 consecutive years in 2022 from EcoVadis, a global corporate sustainability evaluation institution. EcoVadis evaluates more than 160 countries, 200 industries, and 75,000 companies worldwide in four areas: environment, labor and human rights, ethics and fair trade, and sustainable procurement, awarding only the top 5% of companies a gold medal. Hyosung Advanced Materials Corporation promotes the strengthening of ESG management capabilities through the Sustainable Steering Committee and the Specialized Sub-committee under the CEO twice a year, and discloses the expansion of sustainable management activities to 7 overseas business sites in addition to the domestic business sites. Hyosung Advanced Materials will continue to strengthen its capabilities in the environment, social, and governance sectors.

Hyosung holds year-end concert, invites locals and handicapped children

On December 14, Hyosung, jointly with the Purme Foundation, held the “Mini Purme Concert 2022” at the Purme Center in Jongno-gu, Seoul. First held in 2015, the annual event has not been held for three years due to COVID-19. The Company invited 100-plus people including handicapped youths attending programs provided by the Purme Center to the concert. One of the ancillary events related to Christmas held for the attendees was making Santa hat/bracelet. Snacks like ddeokbokki, skewered fish cake, waffle, etc. were also provided to the attendees. The main event included a handbell performance by children of the Jongno Ai Zone for children with developmental disabilities, a Nanta performance by Ullim Sori of the Jongno Welfare Center for the Handicapped, a Pansori performance by JANG Seongbin, a singer with developmental disabilities, a tap dance performance by Theater Lahaph composed of handicapped/non-handicapped members, a performance by PARK Mingyu, a handicapped baritone singer, and a performance by GratoFlute, an ensemble of handicapped flutists.Hyosung is also carrying out a variety of year-end activities for sharing. On December 15, Hyosung employee volunteers are holding a Christmas party for children at the Jangunbong Child Care Center. On December 20, they plan to deliver tuna and ham gift sets to 400 less privileged households in Ahyeon-dong, Mapo-gu, Seoul.

Hyosung taking part in blood donation as year-end activity

On December 7, Hyosung employees at the HQ in Mapo-gu, Seoul took part in the blood donation campaign as part of its year-end activities. Hyosung employees have engaged in such activity since 2008 for 15 years. Note that this is the second event carried out by them in the year alone in an effort to help those suffering from the shortage of donated blood due to COVID-19. The employees taking part in the blood donation were given souvenirs provided by the Korean Red Cross, pizza gifticon, and special presents provided by the Company. “It feels nice to see many employees taking part in such a meaningful activity. I believe that such philanthropic mind will be passed on to many people,” Hyosung Chairman CHO Hyun-Joon said.Hyosung carries out such activities including supply of daily necessities and rice under the slogan “We share in your suffering.”

2022.12.06

Meeting between Hyosung Chairman CHO Hyun-Joon and Vietnamese President Nguyễn Xuân Phúc

Hyosung Chairman CHO Hyun-Joon met Vietnamese President Nguyễn Xuân Phúc again after an interval of four years and disclosed his plan to make a large-scale investment in Vietnam’s future-oriented industrial sectors. □ Mr. CHO Hyun-Joon’s third encounter with President Phúc…bilateral cooperative relationship reconfirmed On December 6, Hyosung Chairman CHO Hyun-Joon met with Vietnamese President Nguyễn Xuân Phúc, who was visiting Korea on the occasion of the 30th anniversary of establishment of diplomatic relations between the two countries. At the meeting held at Lotte Hotel Seoul, the two discussed ways to strengthen business cooperation, with Mr. CHO promising to make continued investment in Vietnam. The two met in 2016 and 2018 when Mr. Phúc was Vietnam’s prime minister, and they have maintained a close relationship since then. Others taking part in said meeting included Vice Chair CHO Hyun-sang, Hyosung TNS President SON Hyunsik, and Hyosung TNC President Kim Chi-Hyung from Hyosung and Minister of Planning and Investment Nguyen Chi Dung, Minister of Industry and Trade Nguyen Hong Dien, and Foreign Minister Bui Thanh Son of the Vietnamese government.□ Hyosung has invested a total of 3.5 billion dollars since 2007, becoming the third largest foreign investor. “Hyosung could grow in Vietnam amid the global pandemic and recession thanks to the Vietnamese government’s effort to foster favorable conditions for foreign investors. We’ll continue to strive to increase investment in the country and strengthen bilateral cooperation, while developing the country as our forward base in eco-friendly and smart business sectors,” Hyosung Chairman CHO Hyun-Joon said at the meeting.For his part, President Phúc expressed deep gratitude for the efforts made by Hyosung for continued investment and job creation in his country and vowed to provide support for Hyosung’s additional investment in eco-friendly/bio/advanced materials/new technology sectors including establishment of the relevant infrastructure and improvement of tax-related matters.Hyosung has established six production corporations in Vietnam , investing a total of 3.5 billion dollars since 2007 and expanding its presence there in keeping with the country’s economic growth. At present, Hyosung is the third largest foreign investor in Vietnam.The number of local employees hired by Hyosung in Vietnam comes to about 10,000, playing a significant role in job creation. Sales of Hyosung’s local corporations in Vietnam are forecast to reach approximately 3.4 billion dollars.

Hyosung provides “Kimchi of love” for winter to less privileged locals in Mapo-gu, Seoul

On December 1, Hyosung delivered “Kimchi of love” for winter to the Mapo-Gu Office for provision to less privileged locals. Each piece of Hyosung’s gift includes some of the kimchi weighing 10 kg to be delivered to a total of 1,500 households. Hyosung has engaged in this year-end love-thy-neighbor activity for the past 16 years.Hyosung makes it a rule to purchase said kimchi from the Senior Club in Jung-gu, Ulsan, which strives to provide jobs to seniors, as an indirect support for what the club does. Every year, Hyosung carries out social contribution activities for locals in Mapo-gu, Seoul including supply of daily necessities and rice. In November, it joined in the fund raising campaign designed to help less privileged locals in Mapo-gu, Seoul spend the winter more comfortably.

Hyosung Advanced Materials participates in UNGC's Business & Human Rights Accelerator Program

Hyosung Advanced Materials attended the launching ceremony of the Business & Human Rights Accelerator program on November 28th. This program, which starts in February 2023, is carried out with UN Global Compact's member companies in 30 countries globally. In Korea, 14 companies including Hyosung Advanced Materials, Kumho Tire, Kakao, and POSCO E&C are participating. This program supports companies to accelerate the fulfillment of their promise to respect human and labor rights through which Hyosung Advanced Materials aims to identify significant human rights impacts of our business activities, establish due diligence procedures, and set goals to resolve identified issues.

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