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.

Hyosung to donate $100,000 for rehabilitation of earthquake-hit areas in Türkiye

Hyosung said on February 13 that it will donate $100,000 for the rehabilitation of earthquake-hit areas in Türkiye. Said donation will be delivered to the Disaster and Emergency Management Authority of Türkiye through the company’s local corporation, to be spent on rehabilitation and support for people affected by the recent disaster. “I would like to express my deepest condolence and words of consolation to Türkiye people suffering from the abrupt disaster. I hope our donated funds will be spent usefully and they will get over the current difficulty very soon,” Hyosung Chairman CHO Hyun-Joon said. Hyosung runs a spandex factory in Türkiye. The factory is located in the Cerkezkoy Industrial Complex more than 1,000 km away from the areas affected by the earthquake and suffered no direct loss but decided to donate to help Türkiye rehabilitate from the earthquake damage.The company’s local corporation in Türkiye also donated funds for victims of the flood in Kastamonu in August 2021, forest fire in Marmaris in July 2021, and earthquake in Elazig in January 2020.

Hyosung TNS launches NFT portal service “NFTtown”

Hyosung TNS said on January 17 that it was launching NFTtown, a portal service specializing in NFT. At NFTtown, you can see all information including NFT-related news and the status of NFT transactions at a glance. The service provides sections like a gallery (for NFT-related works), a library (for the retrieval of information on NFT producers), and a school (providing NFT-related learning contents) under the premise that users pay visits to “town” for easier access to NFT, which is deemed difficult to deal with. The section NFT Today provides latest news. The service is currently provided through Open Beta at nfttown.io but is to be launched formally in February.Hyosung TNS plans to expand its scope of business based on NFTtown from the existing service centered on ATM to digital asset service including NFT.Specifically, the Company plans to introduce Web3 wallet service that enables using mobile apps exclusively for NFTtown and engage in digital asset transactions after launching NFTtown formally. “We’ll enhance customers’ accessibility to and use of NFT by linking our financial IT operation knowhow to NFTtown. We’ll do what we can to lead others in the invigoration of the NFT market,” Hyosung TNS President SOHN Hyunsik said.Hyosung TNS is striving to establish business alliance with other services for the invigoration of NFTtown including a partnership arrangement made with businesses specializing in block chain Web3.0 and NFT project teams last December.

Hyosung Vice Chair CHO Hyun-sang meets with other global business leaders after three years’ absence

Hyosung Vice Chair CHO Hyun-sang attended the World Economic Forum session, met with other global business leaders, and vowed to pour efforts into the holding of the 2030 Busan EXPO.Mr. CHO Hyun-sang attended said session after a three-year absence following the one held in 2020. The 53rd session started with a four-night/five-day schedule on January 16 local time. He plans to discuss ways of mutual collaboration with other global business leaders and carry out activities designed to designate Busan as the site of the next expo during the forum.Mr. CHO Hyun-sang plans to work for the “Busan Project” using his Young Global Leader (YGL) network at the Night of Korea event held on January 18 and hosted by the Korea Chamber of Commerce and Industry (KCCI). He had been a YGL at the Davos Forum held in 2007. He plans to meet with many influential global leaders including ex-YGL members and those from the press, cultural circles, and multinationals to ask for their support for Korea’s bid to host the next expo at Busan.Moreover, he plans to discuss ways of business cooperation with CEOs of global businesses. He will also look for an opportunity to discuss Hyosung’s prospects as a global business specializing in the relevant materials at the forum where attendees are expected to discuss matters concerning climate change and carbon reduction. Mr. CHO Hyun-sang has been attending the Davos Forum since 2006, maintaining close links with the other regular attendees. He was selected as YGL at the forum held in 2007. In 2010, he was listed as the only Korean member of the YGL G20 Initiative. At present, he engages in a variety of activities as a leading next-generation business executive and serves as director of Business at OECD (BIAC).

Hyosung provides Haman with products made with its own eco-friendly technology

On February 28, Hyosung provided products made with its own eco-friendly technology to people in Gunbuk-myeon, Haman-gun, Gyeongnam. Said event was participated by five Hyosung affiliates: Hyosung Corporation, Hyosung TNC, Hyosung Heavy Industries, Hyosung Advanced Materials, and Hyosung Chemical. The products provided include T-shirts made with regen, which is recycled polyester yarn (Hyosung TNC); grain dryers made of carbon fiber (TANSOME®) (Hyosung Advanced Materials); food trays made of Polyketone, which is an eco-friendly material (Hyosung Chemical); and PV power generation facility (Hyosung Heavy Industries). Said event was designed for the promotion of win-win cooperation between rural areas and businesses. The items were provided to elementary schools, senior centers, and community centers in Gunbuk-myeon, Haman-gun, Gyeongnam, where Mr. CHO Hong-je, the founder of Hyosung, was born. “I hope that the event will serve as an occasion to awaken those in rural areas to the importance of eco-friendly products,” Hyosung Chairman CHO Hyun-Joon said. Hyosung affiliates are engaging in eco-friendly activities as follows: Hyosung Chemical’s ‘Animal Behavioral Enrichment’ activities for animals protected on the national level carried out jointly with Cheongju Zoo in October; Hyosung Advanced Materials’ program for the preservation of Pogostemon operated with the City of Jeonju; and Hyosung Corporation, Hyosung TNC, and Hyosung Heavy Industries engaging in activities for the preservation of seagrass groves jointly with the City of Geoje.

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.”