Various stories of activities brought to you by Hyosung TNC
Following a similar project with the Busan Metropolitan Government, Hyosung TNC joins hands with Jeollanam-do to establish recycling system for waste fishing nets□ Signs MOU with Jeollanam-do and Yeosu Gwangyang Port Authority on August 20 for recycling of waste fishing netsHyosung TNC signed on August 20 an MOU on a waste fishing net recycling project under which it will produce "Mipan Regen Ocean," a nylon fiber recycled from waste fishing nets in oceans. The signing ceremony was attended by Hyosung TNC CEO Kim Yong-seup, Jeollanam-do Governor Kim Yung-rok, and Yeosu Gwangyang Port Corporation CEO Cha Min-sik. The agreement was designed to reduce marine ecosystem pollution caused by lost waste fishing nets, which would contribute to the sustainability of the ocean, and enhance awareness of marine environmental protection.Under this agreement, Jeollanam-do will establish a system to separate and discharge waste fishing nets and support stable supply of fishing nets. The Yeosu Gwangyang Port Authority will separate and discharge waste fishing nets and waste plastics from marine waste. Hyosung TNC will produce the Mipan Regen Ocean recycled nylon fiber from the collected waste fishing nets.□ Expanded production of 'Mipan Regen Ocean' through investment in depolymerization facilitiesHyosung TNC said it will also expand investment in depolymerization facilities. The depolymerization facilities allow Hyosung TNC – which uses its own technology – to improve the purity of raw materials by removing impurities from the fishing nets in the production process of "Mipan Regen Ocean."Hyosung TNC plans to augment its depolymerization facilities by early next year to produce more than 150 tons of Mipan Regen Ocean collected by Busan and Jeollanam-do per month. It will sell it mainly to domestic and foreign outdoor brands."Mipan Regen" is the world's first nylon fiber made by Hyosung in 2007 from recycled waste fishing nets.Hyosung TNC relaunched its waste fishing net-recycled fiber with the name "Mipan Regen Ocean" when it signed an agreement with the Busan Metropolitan Government in May to establish a system for recycling waste fishing nets. The latest agreement with Jeollanam-do allows Hyosung TNC to have a wider waste fishing net collection area and secure stable supply of waste fishing nets, which will lead to increased production of Mipan Regen Ocean. Hyosung TNC is a leading global eco-friendly company. It has been producing eco-friendly bags and clothing with "Regen," a fiber recycled from transparent PET bottles, in collaboration with local governments in Jeju, Seoul, and Busan. The recycled goods have gained sensational popularity among the MZ generation.
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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.
Hyosung TNC, in conjunction with Jeju Special Self-Governing Province and Jeju Tourism Organization, will participate in an eco-friendly project to be held in Iho Tewoo Beach on Jeju Island.Hyosung TNC will participate in the ′Filter Project′, an eco-friendly pop-up exhibition/store in Iho Tewoo Beach. The event will be hosted by Jeju Special Self-Governing Province and organized by the Jeju Tourism Organization for two weeks from October 10 to 23. Hyosung TNC will supply recycled fibers ′Regen Jeju (regen® jeju)′ and ′Regen (regen®)′ for large banners and bags to be introduced in the project.The Filter pop-up exhibition/store will consist of a photo zone where visitors can take pictures against the backdrop of large banners made of Regen Jeju and a pop-up space where visitors can buy bags and other products made of recycled materials. The bags were made of clothes donated by Nike and Regen.The Filter Project was designed to raise awareness of the importance of the environment by recreating the beach area of Iho Tewoo, which draw few visitors in non-summer months. Regen Jeju used in the project is a recycled fiber brand made of PET bottles collected by Hyosung TNC, Jeju Special Self-Governing Province and Jeju Island Development Corporation from the Jeju area.It is the third time that Hyosung TNC has participated in a project that utilizes eco-friendly fibers on Jeju Island. Last year, the company rolled out Regen Jeju bags with Pleats Mama and clothes with North Face.Hyosung TNC CEO Kim Yong-seup said, "As a leading company in eco-friendly textile materials, we will continue to pay attention to environmental issues and endeavor to develop eco-friendly products."Meanwhile, Hyosung TNC is working to raise awareness of marine environmental protection by producing ′Regen Ocean′, a polyester fiber recycled from waste bottles coming from incoming and outgoing ships, and ′Mipan Regen Ocean′, a nylon fiber recycled from waste fishing nets.
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.
Hyosung TNC will establish a system for a virtuous circle of community resources by supplying "Regen" made of waste PET bottles in Gwangyang Bay to local companies. The agreement on″ Gwangyang Bay Area Resources Circulation Project" was signed by Kim Moon-sun, Hyosung TNC′s chief executive of Nylon Polyester Fiber PU; Kim Ji-yong, POSCO′s head of Gwangyang Steel Plant; and Cha Min-sik, CEO of Yeosu Gwangyang Port Authority, on August 31.The MOU is designed to establish a resources circulation system that bolsters sustainable consumption and production by recycling waste resources.Under the agreement, POSCO will collect waste PET bottles in Gwangyang Steel Plant and Yeosu Gwangyang Port Authority will collect waste PET bottles in the port area. Hyosung TNC will produce recycled fiber "Regen" with the waste PET bottles.Regen is a fiber made by Hyosung TNC by recycling waste plastics to preserve the environment, and it has recently been receiving love calls from many fashion brands.The Regen products to be made under the latest agreement include uniforms and safety vests at the POSCO Gwangyang Steel Plant. It will also be made into a variety of goods by local social enterprises. Hyosung TNC PU CEO Kim said, "We will take the lead in establishing a system for a virtuous circle of resources by recycling plastics such as waste PET bottles and waste fishing nets in the Gwangyang Bay area. Moreover, we will collaborate with local social enterprises to boost local industrial ecosystem."Hyosung TNC recently signed an MOU with Yeosu Gwangyang Port Authority to recycle waste fishing nets to produce Mipan Regen Ocean, a recycled nylon fiber. As a company that pursues eco-friendliness, Hyosung TNC is taking the lead in protecting the marine environment by recycling waste fishing nets an