Hyosung TNC

Hyosung TNC signs agreement with Korea's top SPA business TOPTEN to engage in eco-friendly business

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.

2022.11.29

Hyosung wins King Sejong Award 2022 from the Korean Intellectual Property Office

Hyosung’s Technology management has added another feather to its cap.The Group has become the world’s first business to develop an eco-friendly catalyst for polyester production, taking one step closer to the status of the top leader in the world’s eco-friendly textile market.Hyosung received the King Sejong Award, the top award among awards presented to businesses that have succeeded in the development of high-end technologies, at the Patent Technology Award ceremony held at L Tower, Gangnam-gu, Seoul on November 3 for the development of antimony-free catalyst, which is eco-friendly polyester catalyst, in 2020. The award was presented to Mr. Kim Cheon-gi, the leader of Hyosung R&DB Labs' Nylon Polyester Polymer Research Team that invented the technology.The Patent Technology Award is presented each year to the one who contributed remarkably to the development of new technologies as well as the relevant industry. The top award is the King Sejong Award, followed by the Chungmugong Award, Ji Seogyeong Award, Hong Daeyong Award, and Jeong Yagyong Award in consideration of the following factors: △ technological significance, △level of distinction/innovativeness, and △ realistic commercial value, etc. The antimony-free catalyst developed by Hyosung is an eco-friendly catalyst that will replace the existing antimony catalyst used in the production of polyester. Antimony is one of the eight leading toxic heavy metals, and domestic businesses have failed to commercialize one that can replace it despite attempts made for years.Antimony-free catalyst is a catalyst based on tin (Sn), which is not a toxic heavy metal. Hyosung has succeeded in completion of the technological development and production of large quantities of it in 2020, a mere three years after its commencement of the effort.The use of antimony-free catalyst as a catalyst can reduce the amount of catalyst used to one-tenth and reduce plastic waste occurring in polyester production by more than half. It can also improve the production process and enhance the quality of goods.Hyosung has set up a plan to use antimony-free catalyst in all polyester productions, and it is taking a step for trial production to cope with major customer businesses’ eco-friendly textile needs proactively and patent registration in the United States, China, Europe, and India. The Group also plans to expand the use of said catalyst in polyester-based products produced in major affiliates such as △ film, △ PET bottles, △ textiles used in vehicles, etc., including polyester tire cords where the Group enjoys the No.1 position in terms of market share (45%).“We’ll listen to VOCs worldwide, get a grasp of changes in customers’ requirements rapidly, and continue to concentrate on ESG management and innovation of eco-friendly technology,” Hyosung Chairman Cho Hyun-Joon said.Meanwhile, Mr. Kim Cheon-gi, the leader of Hyosung R&DB Labs' Nylon Polyester Polymer Research Team attended the celemony and received the King Sejong Award as the lead inventor.

Hyosung Social Work Volunteers resume activities for children with disabilities

Hyosung Social Work Volunteers engaged in the work of taking care of children with disabilities of a municipally run child care center named Janggunbong at a kids’ café in Bongcheon-dong, Seoul. Said volunteers resumed their activities after two years of absence due to COVID-19, taking care of children including toddlers and infants engaging in ball pool, magnet experiments, and climbing. The team of Hyosung’s volunteers started its activities in May 2013, lending support for children at the municipally run Janggunbong Child Care Center by paying a visit there at least once a month. They had to stop their activities in 2020 and 2021 due to COVID-19. Instead, they launched Theme Day, which included a program carried out monthly within the facility for children including igloo, bumper car, dinosaur play, etc. They strived to build affinity among the children, disabled and non-disabled alike. Meanwhile, on September 23, Hyosung held a fall trip wherein family members of children with disabilities spent time with those of employees. Hyosung also engages in activities of sharing with the disabled including providing support for the production of barrier-free films for the visually/hearing-impaired.

Hyosung employees take a fall season trip with the families of children with disabilities

Hyosung employees, together with those from the Purme Foundation, took a fall season trip to places in Gyeonggi-do, being accompanied by the families of young people with disabilities on a three-day schedule from Sept. 23. The said event is part of the programs for rehabilitation treatment of children/young people with disabilities provided jointly by Hyosung and the Purme Foundation. The event held in the fall of 2022 was participated by a total of 51 people among ten families of Hyosung employees and nine families of children/ young people with disabilities. The group (each team consisting of the family of an employee and the family of a person with disabilities) had a good time for two nights & three days. On day 1 (Sept. 23), they saw the sight of a bamboo forest and the place where the popular drama Autumn in my heart was shot on Namiseom Island in Gapyeong. They also had a recreation time to encourage dialogues and communication between participants. On day 2, they paid a visit to a village in Yangpyeong and had a hands-on experience with making sundubu (soft tofu) and injeolmi, and catching trout in the stream. On Day 3, they took part in the event of making tomato gochujang (red pepper paste) and feeding animals, and strolled around inside the Yulbom Botanical Garden in Gwangju.Commenting on the trip, the mother of a disabled child said, “Due to my child’s disability status, we always found it not easy to take a trip with the whole family. This time, we could have a good time and experience a lot of things this time thanks to the well-arranged daily schedule. My child said that he would like to take another trip like this.” A Hyosung employee who took the trip said, “We could teach our kid how to get along with fellow friends with disabilities. We talked to each other a lot and did many activities that will be cherished as a fond memory.”Hyosung, together with the Purme Foundation, has provided support funds for medical rehabilitation of children with disabilities since 2013, along with the support for mental health care and education for siblings of children with disabilities, who are prone to feel alienated due to the need and efforts to take care of their disabled siblings. Last July, the Group arranged for a trip for 15 able-bodied siblings of children with disabilities.

CVC Hyosung Ventures Now Officially Launched

Hyosung Ventures, which is Hyosung’s first Corporate Venture Capital (CVC), has officially launched and is established with Hyosung Corporation’s investment of KRW 10 billion in paid-in capital. On Sept. 23, the Company said that it has completed the process of getting it registered as a new technology project financial business.Hyosung Ventures plans to enable the Group’s source technologies for core materials to gain traction independently without relying on imported technologies through investments in startups specializing in materials, parts, and equipment, which can maximize the Group’s core businesses and synergistic effects. The Company also plans to make bold attempts at new business areas like ICT and data aligned with the era of digital exchange (DX) to contribute to establishing an ecosystem, growing in partnership with the businesses that it invests in, while exploring and developing businesses with new technologies in a variety of fields.Hyosung Chairman Cho Hyun-joon has highlighted the importance of agile management amid the rapid-paced traction of DX, commenting that, “We should embrace and leverage data-centered new technologies and trends rapidly, flexibly, and efficiently.”The mantle of Hyosung Ventures’ first president has been assumed by Mr. Kim Cheol-ho, who was a former vice president at Hyosung Corporation’s Strategy Division. He has accumulated relevant experience with an accomplished career in investment banking, etc. at Iljin Investment Partners, STIC Investments, Deutsch Bank, etc.Hyosung Ventures will engage in consultations with relevant departments and affiliates concerning the raising of paid-in capital with a fast turnaround time.

Hyosung Employees Clean Graveyards in Seoul National Cemetery during Armed Forces Day

On Sept. 20, Hyosung employees paid homage to those laid to rest and enshrined at the Seoul National Cemetery in Dongjak-gu, cleaned the tomb sites, and placed flowers there. The said activities were carried out in connection with the 74th Armed Forces Day (Oct. 1). The employees tallied over 20 people from major affiliates of the Hyosung Group, such as Hyosung Corporation, Hyosung TNC, Hyosung Heavy Industries, Hyosung Advanced Materials, Hyosung Chemical, etc. Hyosung has formed a partnership with the cemetery site and has been participating in such activities twice a year since 2014. Hyosung has provided support for a program geared to provide an improved residential environment to war veterans since 2012 through social contribution activities, as well as provide daily necessities to the elderly of national merit through the Nambu Branch of the Ministry of Patriots and Veterans Affairs (MPVA) since 2017.

Hyosung Employees Participate in Blood Drive for Children Suffering from Leukemia and Childhood Canc

On Sept. 7, Hyosung employees took part in a blood drive sponsored by the Korean Red Cross at the Hyosung headquarters building in Gongdeok-dong, Seoul. The blood donated by Hyosung employees will be sent to the Korean Association for Children with Leukemia and Cancer to be used for children suffering from leukemia and childhood cancer.Over 50 Hyosung employees took part in the blood drive, which was held after a three-year hiatus following the easing of social distancing due to COVID-19 gaining ground. An employee taking part in the event said, “I’ve wanted to donate my blood, but found it difficult to go to a blood bank to donate. Today, I’m glad I was able to donate blood as I hoped to.” The blood drive at Hyosung was first held in 2008 with the employees’ voluntary participation. It is being held periodically at the head office in Seoul in addition to the Group’s business locations in Ulsan, Gumi, Yongyeon, and Changwon. Besides blood drives such as this, Hyosung is actively engaging in social activities through a spirit of sharing with neighbors in the local community, such as donations of sacks of rice, daily necessities, and kimchi.