Various stories of activities brought to you by Hyosung TNC
- Chairman Cho signed an MoU for the establishment of carbon fiber plants with Aramco CEO Amin H. Nasser on June 25- The two sides also agreed to strengthen cooperation in the electricity field including ESS and transmission and distribution grids- Chairman Cho said, “Aramco’s business know-how and Hyosung’s technology will open up opportunities for the growth of new businesses such as carbon fiber” Hyosung Group is strengthening its partnership with Saudi Aramco (Arabian American Oil Company), the world's largest comprehensive petrochemical company, for cooperation in the carbon fiber, including the construction of new plants.Hyosung Chairman Hyun-Joon Cho signed an MoU with Amin H. Nasser, the CEO of Saudi Aramco, a global petrochemical company, at the Conrad Hotel in Yeouido, Seoul, on June 25 with plans to build carbon fiber plants.Under this MoU, Hyosung and Aramco agreed to cooperate in the development and application of carbon fiber production technology and actively review ways to build and expand carbon fiber plants in Saudi Arabia and Korea in the future. They also agreed to strengthen mutual cooperation in chemical fields, such as polyketone and PPDH, which are new advanced materials developed by Hyosung, and electric power such as ESS and transmission and distribution grids.Hyosung Chairman Hyun-Joon Cho also attended an official luncheon for Saudi Arabian Crown Prince Mohammad bin Salman at Cheong Wa Dae on June 26 and discussed specific cooperation measures with Saudi participants.Carbon fiber weighs only one-fourth the weight of steel but is 10 times stronger. In 2011, Hyosung became the first Korean company to develop carbon fiber materials with its own technology. Since 2013, the company has been running a carbon fiber plant in Jeonju, North Jeolla Province, which can produce up to 2,000 tons of carbon fiber a year, and began construction for additional carbon fiber facilities with the aim of an annual output of 2,000 tons at the Jeonju Plant in February.Carbon fiber is a key material for the safe storage, transportation, and utilization of hydrogen energy. Therefore, it is regarded as a core material for hydrogen tanks that have to be lightweight but withstand the pressure that is hundreds of times higher than air.In March, Hyosung Chairman Hyun-Joon Cho also signed a comprehensive MoU with Aramco on cooperation in the chemicals, advanced materials, and hydrogen-related businesses. Aramco is said to have considered it necessary to cooperate with Hyosung, which has secured its proprietary technologies in advanced materials such as carbon fiber, while reviewing new businesses in automobiles and renewable energy.At that time, Aramco's executives, including Senior Vice President Ahmad A. Al-Sa'adi, visited the carbon fiber plant in Jeonju and expressed confidence in Hyosung's distinctive technology while touring the carbon fiber production line.Chairman Cho said, "I hope that Aramco's expertise in management and Hyosung's exclusive technologies will create synergy in the growth of future businesses including carbon fiber.”
A total of 38 articles have been added for reading.
- The "affordable mask that allows for chemical purification" designed to tackle fine dust problems won the Grand Prize- The winners will receive prize money and additional points when applying for Hyosung Group.The idea of the "affordable mask that allows for chemical purification" of the "Sim-Tae-Park" team (Sim Young-jin, Kim Tae-hoon, and Park Min-ho) of the Department of Textile System Engineering at Kyungpook National University won the Grand Prize at the "2019 Green Earth Drawn by Hyosung" contest. The award ceremony was held at Hyosung Group's headquarters in Mapo-gu on July 4.The Grand Prize winning work has creatively addressed the limitation of existing fine dust filters which do not filter small-particle dust and increased the effectiveness of the fine dust filter by coating it with a mixed solution of various chemicals. The team's idea received good feedback from the judges since it is also applicable to other filters such as for air conditioners and its commercial feasibility was verified through experiments. In the video category which was first held this year, contestants' creative ideas and video content draw the attention of the judges.The grand prize winner of the idea category was awarded the prize money of KRW 5 million and additional points when applying for Hyosung Group. Details about the contest will be shared on Hyosung's blog and YouTube channels (Hyosung TV and HyotHyot TV). The eco-friendly idea contest, which marks the third anniversary, began with Hyosung Chairman Hyun-Joon Cho's faith in eco-friendly management and green management policy. The contest is regarded as an effective way to raise environmental awareness among college (graduate) students and increase communication with young talent. In addition, Hyosung has established and implemented "Green Management Vision 2020" aimed at realizing eco-friendly management as well as actively managed greenhouse gas emissions and developed eco-friendly materials.
- A fund to improve the residential environment of Korean War and Vietnam War veterans- Hyosung will also donate a support fund and goods to the Army’s I Corps which it has a sisterhood relationship withHyosung visited the Army Headquarters in Gyeryong, South Chungcheong Province and delivered KRW 100 million for the “Patriots Home” project on July 2.‘Patriots Home’ is a project aimed at improving the residential environment of Korean War and Vietnam War veterans. Hyosung has sponsored this project for seven consecutive years since 2012. A completion ceremony of Patriots Home, which was built with sponsorships from 12 companies including Hyosung, was held on June 17.At the donation ceremony, Hyosung Vice President Choi Yeong-beom said, “We would like to pay respect to war veterans who sacrificed themselves for the nation. We hope that they will spend the rest of their lives comfortably in a better environment.”Hyosung will also visit the Army’s I Corps on July 5 to deliver a support fund. Hyosung has sponsored the I Corps every year after forging a “one-company one-army barrack” sisterhood with in 2010.From 2016 to 2018, Hyosung sponsored a book café for the I Corps troops as part of a project to promote reading culture in the military. This year, the company plans to donate new books for the book café as well as fitness products.Meanwhile, Hyosung has a “one-company one-cemetery” sisterhood relationship with national cemeteries near its business sites including Seoul National Cemetery, Daejeon National Cemetery, and Yeongcheon National Cemetery, where Hyosung employees regularly conduct cleaning activities.
- The Production Technology Center, which overseas Hyosung’s production technologies in the textile, advanced materials, and chemical sectors, opened today.- Hyosung aims at ‘technology convergence’ by adding technology to the world’s No.1 technology.Hyosung has launched its integrated production technology center in an effort to strengthen quality management.The Production Technology Center is an organization that oversees the technical operations of Hyosung's major processes and facilities in the textile, advanced materials, and chemical sectors. It consists of 26 key technology experts in 4 teams from Hyosung R&DB Labs, Hyosung TNC, Hyosung Advanced Materials, and Hyosung Chemical.The center aims at technological sophistication by allowing key technology experts of Hyosung R&DB Labs and main plants to cooperate to design new processes and improve the existing production processes. The center plans to expand manpower by securing and fostering basic design experts for processes and major facilities in the future. Hyosung owns 548 patents related to textiles, 708 patents related to advanced materials, and 1,037 patents related to chemicals at home and abroad and plans to promote synergy among its proprietary technologies.Chairman Hyun-Joon Cho said, "We will not be complacent with the idea that the world's No.1 product equals the world's No.1 technology and aim to achieve 'technology convergence' by adding technology to technology." Hyosung has nine world-class products, among which spandex, polyester tire cord, and seat belt yarn have the highest market share in the world.
- Chairman Cho signed an MoU for the establishment of carbon fiber plants with Aramco CEO Amin H. Nasser on June 25- The two sides also agreed to strengthen cooperation in the electricity field including ESS and transmission and distribution grids- Chairman Cho said, “Aramco’s business know-how and Hyosung’s technology will open up opportunities for the growth of new businesses such as carbon fiber” Hyosung Group is strengthening its partnership with Saudi Aramco (Arabian American Oil Company), the world's largest comprehensive petrochemical company, for cooperation in the carbon fiber, including the construction of new plants.Hyosung Chairman Hyun-Joon Cho signed an MoU with Amin H. Nasser, the CEO of Saudi Aramco, a global petrochemical company, at the Conrad Hotel in Yeouido, Seoul, on June 25 with plans to build carbon fiber plants.Under this MoU, Hyosung and Aramco agreed to cooperate in the development and application of carbon fiber production technology and actively review ways to build and expand carbon fiber plants in Saudi Arabia and Korea in the future. They also agreed to strengthen mutual cooperation in chemical fields, such as polyketone and PPDH, which are new advanced materials developed by Hyosung, and electric power such as ESS and transmission and distribution grids.Hyosung Chairman Hyun-Joon Cho also attended an official luncheon for Saudi Arabian Crown Prince Mohammad bin Salman at Cheong Wa Dae on June 26 and discussed specific cooperation measures with Saudi participants.Carbon fiber weighs only one-fourth the weight of steel but is 10 times stronger. In 2011, Hyosung became the first Korean company to develop carbon fiber materials with its own technology. Since 2013, the company has been running a carbon fiber plant in Jeonju, North Jeolla Province, which can produce up to 2,000 tons of carbon fiber a year, and began construction for additional carbon fiber facilities with the aim of an annual output of 2,000 tons at the Jeonju Plant in February.Carbon fiber is a key material for the safe storage, transportation, and utilization of hydrogen energy. Therefore, it is regarded as a core material for hydrogen tanks that have to be lightweight but withstand the pressure that is hundreds of times higher than air.In March, Hyosung Chairman Hyun-Joon Cho also signed a comprehensive MoU with Aramco on cooperation in the chemicals, advanced materials, and hydrogen-related businesses. Aramco is said to have considered it necessary to cooperate with Hyosung, which has secured its proprietary technologies in advanced materials such as carbon fiber, while reviewing new businesses in automobiles and renewable energy.At that time, Aramco's executives, including Senior Vice President Ahmad A. Al-Sa'adi, visited the carbon fiber plant in Jeonju and expressed confidence in Hyosung's distinctive technology while touring the carbon fiber production line.Chairman Cho said, "I hope that Aramco's expertise in management and Hyosung's exclusive technologies will create synergy in the growth of future businesses including carbon fiber.”
- Since 2016, Hyosung has planted trees in Noeul Park for ecology preservation- On June 7, the group delivered a facility support fund for jobs for persons with severe disabilities for the sixth year in a row.- Hyosung also supported for Patriots Home and donated supplies for veterans to practice love for the nationIn preparation for the hot summer months, Hyosung is taking care of a forest for ecology preservation. □ Donation of KRW 10 million for the ecology preservation of the Shared Growth Trees in Noeul ParkOn June 21, Hyosung donated a support fund worth KRW 10 million to the Noeul Park Civic Group Foundation for the ecology preservation and management of Noeul Park in Mapo-gu. Since 2016, Hyosung has established “Hyosung Shared Growth Trees” in Noeul Park and covered operating expenses for four years. Hyosung executives and employees including new employees have regularly visited the Shared Growth Trees for tree planting and clean-up activities as part of its efforts to preserve the forest. In May, the partner companies’ employees of Hyosung Heavy Industries also joined in activities for shared growth at the Shared Growth Trees. □ Hyosung also sponsors the Combridge project for creating jobs for the disabledOn June 7, Hyosung visited the Eden Welfare Foundation in Paju, Gyeonggi Province and donated KRW 20 million in support of creating jobs for persons with severe disabilities. This fund will be used to improve work environments so that disabled people can work safely and pleasantly. Hyosung also supports the Combridge (computer + bridge) project which hires people with disabilities to collect discarded computers, laptops, printers and scanners and disassemble the parts for recycling. Hyosung began the Combridge project for the first time in Korea in 2014 and has donated about 7,000 computer devices until last year with a plan to continue to support the project this year. Currently, around 100 severely disabled people are working at the Eden Welfare Foundation. □ To mark Memorial Month, Hyosung sponsored the housing project for Korean War veteransOn June 17, Hyosung attended the completion ceremony of “Patriots Home” which sponsors the establishment of residence for Korean War veterans as part of its patriotic activities. Hyosung has provided support for this project since 2012.On June 13, Hyosung also donated daily supplies including Dongwon Tuna cans and ham sets to 200 units of persons eligible for veteran’s compensation through the Ministry of Patriots and Veterans Affairs. Chairman Hyun-Joon Cho said, “Neighbors and the environment are precious values that grow with Hyosung and that have to be protected. We will not only conduct sharing with those who sacrificed themselves for the country and socially marginalized people including the disabled but also fulfill our social responsibilities as an environment protector.”
On June 19, Hyosung Chairman Hyun-Joon Cho met with Vietnam's Deputy Prime Minister Vuong Dinh Hue and agreed to strengthen mutual cooperation. Deputy Prime Minister Hue, who is in charge of the Ministry of Finance, the Ministry of Planning and Investment, and the central bank, plays a role as Vietnam’s economic control tower.During the meeting, Chairman Cho explained about Hyosung’s new projects, such as the construction of a polypropylene (PP) plant in Ba Ria Vung Tau and a tire cord plant in Quang Nam Province, and asked for the Vietnamese government’s interest and support. Chairman Cho said, “Vietnam is a crucial region for Hyosung, serving as a global comprehensive production base where all of Hyosung’s core products are being manufactured. I hope that both sides will continue the good relationship and bolster collaborations.”Vietnamese Deputy Prime Minister Hue said, “Hyosung is one of the largest investors for Vietnam, and we will provide full support for Hyosung’s establishment of a PP plant in the southern province of Ba Ria Vung Tau and a tire cord plant in the central province of Quang Nam."Chairman Cho, who met with Vietnam’s Prime Minister Nguyen Xuan Phuc in 2016 and 2018 to discuss business cooperation, has maintained close ties with senior officials of Vietnam.
