Various stories of activities brought to you by Hyosung TNC
Hyosung TNC has started working with TOPTEN, the No. 1 SPA business in the country, for the joint development of eco-friendly products. On March 8, the Company signed an MOU with TOPTEN for said undertaking in a ceremony held at the headquarters building of Shinsung Tongsang in Gangdong-gu, Seoul, with Hyosung TNC President Kim Chi-hyung and Shinsung Tongsang Chair Yeom Tae-soon in attendance. The two businesses′ decision to work together for the development of good-quality eco-friendly products with reasonable prices came following the increase in such goods particularly among the MZ generation. Under said MOU, Hyosung TNC will develop/supply diverse eco-friendly materials using Regen®, which is polyester fiber made of recycled transparent PET bottles. For its part, TOPTEN will introduce a collection of cost-effective, eco-friendly clothes using it, including activewear like Balance. Hyosung TNC also intends to help TOPTEN introduce a variety of cost-effective, eco-friendly clothes through the joint development of new products using Regen® and by providing eco-friendly fashion ideas to TOPTEN. ″We are playing the leading role in fashion markets both in and out of the country through eco-friendliness, fully taking advantage of the merits of our Regen® and working with local governments as well as the relevant fashion brands. We will continue making similar efforts by making eco-friendly products easily accessible to consumers through positive cooperation,″ Hyosung TNC President KIM Chi-hyung said, commenting on the matter. For his part, Shinsung Tongsang Chair Yeom Tae-soon noted that TOPTEN and Hyosung TNC have worked together to develop eco-friendly materials and functional fabrics. ″We have been able to improve our main line of products like OnAir, CoolAir, and Balance. Through the MOU signed this time, the two businesses will engage in further R&D of new materials/eco-friendly products to make better apparel and meet consumers′ desire for value-based consumption,″ he added.
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Hyosung Vice Chair Cho Hyun-sang received an honorary diploma from Yonsei University at a ceremony held on August 26 at the school, 32 years after his admission to the school. He also delivered a message of congratulations and encouragement to the 3,058 students graduating that day.He emphasized three points to the graduating students: “Do your best at every moment with a dream and a vision”; “Enjoy challenges and failures to your hearts’ content”; and “Build experience and have earnestness, be courageous enough to work for others.”In 1991, he started studying at Brown University, Rhode Island, New York as an exchange student while attending Yonsei University’s Department of Education. Looking back at those days, he noted how he spent those days carrying out activities earnestly as a member of an Acapella group, a reporter for the school newspaper, and an athlete of the school’s American football team while studying hard, always with a thirst for challenge. He recalled that, after graduation, he joined global consulting firm Bain & Company, working 100 hours a week. He said that such period of hard work was a valuable experience that would serve as the groundwork for his future career at the Hyosung Group. Later, he joined Hyosung in 1998 when the financial crisis hit the country. He told the graduating students that challenge is what only young people can do, that they need to be brave enough to stand up again despite failures, and that they should be pertinacious enough to accomplish what they planned no matter what. He also stressed that all of the graduating students should have a sense of mission for building a new life for them and for others with a grand hope, and that they need to be courageous enough to work for others using their experience and earnestness. Serving as the head of Hyosung Social Work Volunteers since 2015, he has stressed the importance of sharing warm and healthy values with others. Hyosung Social Work Volunteers engage in a variety of humanitarian activities including the Young Nak Aenea Center, a facility for those suffering from developmental disorders, and Onnuri Love Chamber, which is an orchestra composed of those with developmental disability.In presenting the honorary diploma to Mr. Cho Hyun-sang, Yonsei University said that the event was in recognition of his efforts in ▲playing a leading role in the company’s growth based on creativity, innovation, and challenge, putting Yonsei’s vision into practice, and ▲social contribution activities in the fields of culture and sports and less privileged neighbors.
Hyosung TNC has started taking steps in earnest to expand its eco-friendly textile market by introducing bio-based spandex, which was successfully commercialized ahead of any other businesses in the world. Hyosung TNC said on August 24 that it set up the largest exhibition booth among those associated with the eco-friendly theme at Preview in SEOUL (PIS), one of the largest textile exhibitions in the country, held at COEX, Seoul on August 24~26. □ Introducing creora bio-based fabric commercialized for the first time in the worldAt PIS, Hyosung TNC introduced creora® bio-based fabric, which is spandex textile made of corn. Creora® bio-based fabric is a bio-based textile made of materials extracted from corn and was certified by the United States Department of Agriculture.Said fabric will be applied in all areas where spandex was used, including sportswear, athleisure wear, lingerie, etc., based on its good elasticity and recoverability.Hyosung TNC expects said fabric to help it expand its eco-friendly textile market as other products such as regen® have done in the recycled polyester market.The Company will also introduce the following: △ Regen Ocean, polyester recycled textile made of waste PET bottles collected from beaches; and △ fabrics made of Mipan Regen Ocean, which is nylon recycled textile made of waste fishing nets.□ Introducing a large number of eco-friendly goods made in cooperation with Shinsung Tongsang, which owns Topten and ZioziaAt the exhibition, Hyosung TNC introduced a large number of fashion goods made in cooperation with Shinsung Tongsang, which owns the country’s top-notch brands Topten and Ziozia.It is particularly noteworthy that ECOREA T-shirts, which are eco-friendly clothes, upper/lower windbreaker clothing, and bags made by Shinsung Tongsang are made of Regen, the leading one among Hyosung TNC’s recycled textiles. The Company also introduced an array of fashion brands made of eco-friendly/recycled textile Regen at its exhibition booth.The Company strives to provide a wider range of choices for eco-friendly fashion consumers by introducing the following: △ T-shirts and socks of Musinsa standards; △ DAKS neckties; and △ sneakers of MUJI and LAR.The Company also provided a joint booth for nine of its subcontractors specializing in fabrics for their exhibition and sales meetings with buyers as part of the effort to expand the ecosystem of domestic eco-friendly textile market and coexist with them.□ 23rd session of PIS held at COEX on August 24~26PIS, which is hosted by the Korea Federation of Textile Industries (KOFOTI/Chair: Lee Sang-un), marked its 23rd year. The Event was held for three days (Aug. 24-26) on the first floor of COEX, Seoul, with a total of 311 businesses attending including Hyosung TNC, Taekwang, Daehan Synthetic Fiber, Kyungbang, etc., using a total of 524 booths.The opening ceremony held on August 24 was attended by Mr. Lee Sang-un and 1st Vice Minister of Trade, Industry, and Energy Jang Young-jin.At an informal meeting for the relevant policy discussion held ahead of the opening ceremony, Mr. Lee Sang-un noted that the shift of the country’s textile industry to eco-friendliness is a step taken for survival, and that it will provide an opportunity for domestic businesses to secure a competitive edge in the global trend for the sophistication of industrial structures. “We at the government will further the country’s eco-friendly textile policies through close communication with the relevant businesses and promotion of eco-friendly consumption, development of technologies, replacement of dilapidated facilities, provision of recycling infrastructure, etc.,” 1st Vice Minister Jang Young-jin said.
Hyosung donated 300 million won on August 16 to the Korean Red Cross for flood victims in the Central Area. The donation was put together by Hyosung Corporation as the holding company of the Group, Hyosung TNC, Hyosung Heavy Industries, Hyosung Advanced Materials, and Hyosung chemicals. Hyosung asked the Korean Red Cross to spend the money for flood victims in Seoul, Gyeonggi-do, Gangwon-do, and Chungcheong-do and for the rehabilitation of the affected areas. Commenting on the matter, Hyosung Chairman Cho Hyun-joon expressed hope that the donation could give some consolation to the flood victims. Hyosung donated another 300 million won for victims of the fire that occurred in Gangwon-do last March. In 2020, it donated 500 million won in support of efforts to overcome COVID-19.
SEOUL, South Korea -- Hyosung TNC (KRX:298020) has succeeded in extracting spandex from corn and commercializing the world’s first bio-based spandex. Hyosung TNC announced on August 10, 2022 that it successfully developed bio-derived spandex, ‘creora® bio-based’, using a natural material extracted from corn instead of coal, and obtained a global eco-friendly certification. Commercializing the world’s first bio-based spandex that reduces carbon emissions by 23% compared to conventional productsThe ‘creora® bio-based’ spandex uses a corn-derived substance that obtained an eco-friendly certificate from the U.S. Department of Agriculture, replacing a part of coal-extracted raw materials. The corn-derived substance has long been used for general fibers, wrapping papers, cosmetics, and liquid detergents, but not for high-functional textiles, such as spandex, as it is impossible to deliver unique elasticity and resilience due to technological limitations. Building on its technological prowess that leads the world’s spandex market, Hyosung TNC has made research and development efforts for more than a year, and successfully commercialized bio-based spandex for the first time in the world. According to the Life Cycle Assessment, an assessment technique based on the international standards for environmental impact, when ‘creora® bio-based’ is applied to the products, it can reduce water use by 39% and carbon dioxide emissions by 23%, compared to conventional spandex products. Obtaining an eco-friendly certification from SGS, the world’s leading international standard certification instituteIn June 2022, the ‘creora® bio-based’ received the Eco Product Mark, a global eco-friendly certification, from the Société Générale de Surveillance (SGS). The Eco Product Mark is awarded to products that used eco-friendly raw materials, harmless to human body and produced in eco-friendly methods through ESG-oriented management. As the European Union recently announced a full-scale adoption of the Carbon Border Adjustment Mechanism (CBAM) in 2025, global demand for eco-friendly biomaterials is on the rise.Data Bridge, a global market survey institute, expects the global biological fiber market to grow at an annual average of 5.5% by 2029,“We will drastically expand the eco-friendly product business,” says Hyosung Chairman Cho Hyun-joon, signaling the group’s intention to collaborate with global brands.Hyosung TNC will initially start production of the bio-based spandex at its production bases in Korea including facilities in Gumi, and then increase its production through global production bases, such as those in Vietnam. In addition, it aims to continuously increase the use of natural raw materials for its products through collaboration with global fashion brands. “We will play a pivotal role as an industry leader by steadily developing the next-generation eco-friendly textiles including biodegradable fiber,” said Hyosung Chairman Cho Hyun-joon.
On July 19, Hyosung donated KRW 100 million to be used for a program of providing new homes to war veterans during a paid visit to the ROK Army Headquarters in Gyeryong-si, Chungnam. This program is meant to express gratitude to Korean War and Vietnam War veterans for their sacrifice for and devotion to the country. For this program, in which the ROK Army Headquarters plays a leading role, Hyosung builds new homes or repairs old homes for war veterans experiencing financial difficulty with the involvement of the private sector and the government agencies. They also support the housing rents to those eligible to be basic livelihood security recipients for up to two years among those of national merit.Hyosung has provided financial support for this program since 2012. Their donation, along with those from other businesses, will be spent on improvement of the living environment of a total of 12 veterans and finding rental houses for more than 100 veterans. In 2021, donations like this were spent on improvement of residences for a total of 16 Korean War veterans and finding rental homes for 98 war veterans. Hyosung pursues in earnest social contribution activities based on three themes of support for the underprivileged, culture & arts, and war veterans of national merit under the slogan “We will be with you through the spirit of sharing.” Last June, Memorial Day-Month, Hyosung employees paid a visit to the 1st Corps, the ROK Army, and delivered solatium while they engaged in voluntary activities for cleaning the graveyards of the Seoul National Cemetery.
On July 18, Hyosung distributed five-hundred 20kg sacks of rice to those in need in Mapo-gu, Seoul.The sacks of rice distributed as part of Hyosung’s ‘Rice of love’ campaign will be delivered to a total of 500 households with the support of the Mapo-Gu Office. This is part of the charitable campaigns carried out by Hyosung twice a year for the past 17 years since 2006 for those in need in Mapo-gu, Seoul.Hyosung has purchased the sacks of rice from the Gunbuk Agricultural Cooperative in Haman-gun, Gyeongnam, which is Hyosung’s affiliated village. It could be said that Hyosung kills two birds with one stone by helping farmers sell their harvested rice and distributing good-quality rice to residents of Mapo-gu. Hyosung strives to provide support for the underprivileged class under the slogan “We will be with you through the spirit of sharing.” Last June, Hyosung provided support funds to the Eden Welfare Foundation, a social enterprise striving to find jobs for those with disabilities, and daily necessities and concert tickets to senior citizens of national merit through the Nambu Branch of the Ministry of Patriots and Veterans Affairs.
