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A to Z of Hyosung Brand Builders: Seeing Hyosung through Gen Z's Eyes

Hyosung Group, the global corporation and conglomerate based in South Korea recognized for advanced technologies, has led the world market via its major affiliated companies. Hyosung Group’s 50-year history has accompanied much of the country’s economic development. Due to its long history, Hyosung is not only familiar to older generations but also to Gen MZ, the leading consumer in the market, as Hyosung Group has rolled out various activities to engage the youth, notably Gen Z. To create a refreshingly new brand marketing approach targeting Gen Z, Hyosung created the Brand Builder Program by recruiting university students as aspiring marketers and providing them with on-the-job training to develop marketing strategies and implement programs. Through the Brand Builder Program, student marketers could earn opportunities to participate in marketing and develop future talent. Through their activities, Hyosung Group has expected increased brand awareness and preference among Gen-Z consumers, and student marketers have aimed to improve the group’s image as youthful and active and increase its market impact using their breakthrough ideas targeting Gen-Z. #Mission Unlike other supporter programs, the Brand Builder Program limits the number of participants to only three: Kwon Gyu-bin, Shim Su-bin, and Jeong Ji-hye. They are invited to experience the actual jobs of brand marketers, such as ESG branding, digital marketing, and brand MD. These participants are also required to carry out monthly tasks. The brand builders’ tasks carried out during May included establishing a strategy to develop CEO branding, recruitment branding, and improving the image of Hyosung Group targeting Generation M. Assigned to develop Hyosung’s CEO branding, Brand Builder Jeong Ji-hye began her task by defining CEO branding, also known as president identity (PI), and reviewing related case studies. She conducted market research on preferred or respected CEOs by Gen Z people around her. Based on research results, Jeong extracted ideal images of CEOs preferred by Gen Z and devised a strategy to complete the image via content supporting social media, patronage activities, and newsletters. Her performance on CEO branding has resulted in novel content and fresh perspectives viewed by Gen Z. Assigned to develop Hyosung’s recruitment branding, Brand Builder Shim Su-bin studied examples that offered good recruitment branding strategies. She first differentiated the recruitment strategy for first-time applicants and applicants with previous job experiences. She established a recruitment branding strategy to promote hidden talents to apply for employment at Hyosung. She worked on how Gen Z applicants could obtain job search information in detail, completing her mission. Brand Builder Kwon Gyu-bin was assigned to develop a strategy to improve the image of Hyosung Group, targeting Generation M. She first analyzed circumstances, followed by targets, extracted insights and problems, and proposed a solution, providing a massive amount of content. Kwon went to great lengths to analyze the image of Hyosung Group from various angles and proposed an IMC (integrated marketing communication) strategy reflecting the freshness of Gen Z consumers. As described above, the three brand builders carry out individual missions monthly and three team missions during the given period. They also participated in brand marketing projects to experience on-the-job brand marketing. Their fresh and novel ideas have contributed to Hyosung Group’s brand marketing. #Comment We interviewed the three Brand Builders about their activities and personal comments. First, we asked how they felt about becoming one of Hyosung brand builders whose positions are available in a small cohort. Kwon Gyu-bin: Since I participated in one of the projects at Hyosung before and had a great experience, I wanted to continue working with Hyosung. I got another chance to do it again and feel very pleased. So, the brand builder’s activities are very meaningful to me. Shim Su-bin: I was surprised that the number of the selected brand builders was far smaller than I had thought, and I became exceedingly happy to be chosen. Unlike other activities, I found the program very practical. I’m so glad I could build relationships with people on the job. Though not yet finished, I found this program highly satisfying. Jeong Ji-hye: I initially became a bit nervous when I thought of undertaking tasks that I wouldn’t do in school. Above all, I’m truly honored to have participated in the program open to only three candidates. #Activities Unlike other activities, the Hyosung Brand Builder Program offers an excellent benefit for marketing aspirants to experience on-the-job training. We asked the brand builders what they thought was the most memorable while experiencing the working environment. Kwon Gyu-bin: It was most memorable to build a strategy to improve the corporate image targeting Generation M. I regarded them as people in their mid- to-late 20s up to their early and mid-30s. It was tough for me because, in the past, I only worked on Gen Z or people in their early 20s, and had not yet experienced what’s like to be Generation M. So, I conducted research targeting them and extracted insights from them before applying the results to the plan. That’s what I did to overcome my challenge. Shim Su-bin: The first thing that comes to my mind as most memorable is my participation in planning the launch of a clothing brand targeting Gen Z. As a university student; it’s hard to plan everything, from choosing product categories to marketing and communication, so the experience became intensely memorable, especially after experiencing rare visits to places like Musinsa’s pop-up store and its sample room in Seongsu-dong, as well as getting feedback from the staff there. Jeong Ji-hye: Planning social media content to promote NFT Town was most impressive for me because it was challenging to plan content for digital tokens, a field unfamiliar with. Having completed the job, I felt I gained a lot of knowledge, which was rewarding. The experience was unique because I finally understood the prevailing notion that marketers must be experts in multiple fields. We also asked the brand builders what they thought was the most challenging mission. All three brand builders picked the group task of planning the launch of a clothing brand targeting Gen Z as the most challenging one. Let us find out why. Kwon Gyu-bin: Planning the launch of a clothing brand for Gen Z was the most challenging task. The job was not simply to write a planning proposal but also to propose ideas that could be executed for real. We had a chance to make a presentation in front of the group’s marketing team, the new materials team, and the senior executive director. I can still vividly remember their feedback after the presentation. I stayed up all night to get the job done and found my experience priceless. Shim Su-bin: As Brand Builder Kwon Gyu-bin mentioned, I also found it challenging to plan the launch of a clothing brand out of all the tasks I worked on. Since none of us majored in fashion-related courses, we were limited in understanding of professional knowledge of eco-friendly clothing. Despite that, we overcame the challenge. I’m glad we finished the mission with high marks. Jeong Ji-hye: Likewise, I would also say the most challenging mission was planning the launch of an environment-friendly clothing brand. As Brand Builder Shim Su-bin mentioned, since none of us majored in fashion or apparel production, we lacked professional knowledge in that field, making the job more challenging. But we were able to gain new experiences we wouldn’t have had if not for this mission. The experience was highly enjoyable overall. #Resolution Finally, we asked them-as Hyosung brand builders and aspiring marketers, what kind of brand they wish to associate with Hyosung, what they plan to do in the remaining time, and what their resolutions are. Kwon Gyu-bin: From the brand builders’ activities and various experiences at Hyosung, I thought the corporation aimed to make a change and catapult ahead. So, I want to make Hyosung known to the general public and corporations that it does not rest on its laurels and is not afraid of changes made for the future. Brand builders can engage in meaningful activities by directly communicating with onsite employees. If we had worked together on activities based on many ideas until now, I would think more and make efforts to produce results in the remaining time. I hope our activities will make a good contribution to Hyosung Group! Shim Su-bin: My impression of Hyosung while working as a brand builder was that its corporate image was friendly and warm, and the company offered encouragement and support for the youth. So, I thought it would be better to position it to portray the image of a mature grown-up persona instead of changing to the image of the youth in one breath. I used to have a biased attitude that the company, with a 50-year history, was out of touch, but any such thought completely disappeared after joining as a brand builder. Like my own experience, I want to change all the biased attitudes toward Hyosung that my friends or peers may have. Studying in school and working as a Brand Builder in tandem was challenging. But after the semester, I plan to focus more on the brand builder’s activities and do a good job. I want to work hard and deliver good results to proceed to the second term of the Brand Builder Program so that many more university students like us can experience the program. Jeong Ji-hye: Future society needs companies equipped with environment-friendly technologies. I want to emphasize that Hyosung makes a great effort to make the world an environment-friendly place and is an essential brand for future generations. As a brand builder, I can engage in precious activities closer to onsite marketing tasks than the other activities I have participated in. It’s been so much fun so far, and I will continue to do my very best while hoping to see good results. Gen MZ has become the largest consumer group in the market, changing the aspects of the market. Gen Z, notably, is known to have a flexible way of thinking and fresh ideas in planning businesses. The brand builders at Hyosung participating in onsite marketing projects are three Gen Z university students aspiring to become professional marketers. After seeing the brand builders’ great performances and exciting ideas presented via onsite tasks, we have high expectations for the results of their brilliant activities in the meantime. Like the aspiring marketers changed their impression and affinity toward Hyosung as brand builders, we look forward to seeing better awareness and appreciation for Hyosung among Gen Z consumers through their target-specific activities. Hyosung Group includes affiliated companies that reflect global trends and exclusive technologies as follows: Hyosung Chemical practices concerns for the environment; Hyosung Heavy Industries prepares for great energy transition; Hyosung TNS Inc. ushers in the era of singularity, and Hyosung Advanced Materials develops multi-functional and multi-applicable materials. If Hyosung taps into the freshness and authenticity of young brand builders in a meaningful way, we trust that Hyosung will captivate the hearts and minds of Gen Z in due time.



Performance Marketing and Hyosung’s Renewed Website

In the 1990s, while analyzing customer purchase receipts, Walmart in the United States found one peculiar aspect. Every Wednesday, customers who bought baby diapers often bought beer at the liquor section. There may not seem to be any connection, but apparently there was. Husbands who had gone out to buy diapers for their wives were buying beer. Based on this analysis, every Wednesday Walmart stocked the display case next to the diaper section with beer and held a beer event. Naturally, store sales rose. Walmart's best practice of increasing sales through accurate analysis and simple but effective actions is an example of good performance marketing, a performance-oriented marketing strategy. Hyosung is expanding its performance marketing strategy for a more effective marketing. Analytics and execution to reduce bounce rates - performance marketing Performance marketing is a results-oriented marketing strategy that involves setting goals for achievements and continuously working on improving performance to reach those goals. While many marketing strategies emphasize exposure, aiming to showcase products and brands as widely as possible across various channels such as billboards, TV, and social media, there are numerous drop-offs from the moment an ad is exposed to when a consumer makes a purchase. Even if an ad reaches a thousand people initially, only one person may end up becoming the final purchaser. To reduce these drop-offs and increase efficiency, an effective marketing strategy is needed, much like performance marketing. Performance marketing has recently been gaining more attention, mainly due to the widespread use of smartphones. In the past, there were methods to analyze and track customer behavior, but the analyses did not provide detailed insights or a wide range of in-depth data. While cases like Walmart may allow analysis through purchase receipts alone, there was still a lack of evidence on how to prevent potential customers from dropping off and converting them into actual buyers. However, at present, all our actions are connected, recorded, and analyzed online through smartphones. We can now analyze specific data on consumer behavior, such as which keywords were searched to make a purchase and the paths they took to arrive at a website. This data allows to make improvements to advertisements based on analysis, enhancing performance and increasing efficiency. That's why performance marketing, which is results-oriented and focuses on utilizing data analysis, has been attracting more attention. Detailed analysis of data is critical to achieving the goals of performance marketing, and the use of digital marketing tools for this purpose is expanding. Representative performance marketing tools include GA4 and SEM RUSH. GA4 is the 4th version of Google Analytics, a log analysis tool that collects both website and app data to understand customer tendencies in detail. In the meantime, many companies have been using UA tools provided by Google, but as of July 1 of 2023, it was decided not to process new data, and a quick transition is now being made. GA4 uses Google's machine learning technology to create exploration reports. This allows tracking of customer behavior such as which keywords they use to access a website, what items are purchased, and what devices are used to access the website. Through this, brand awareness and campaign performance can be measured and compared, and analyzed in detail. Furthermore, GA4 allows in-depth analysis of performance by tracking conversion rates and facilitating Customer Relationship Management (CRM). This means businesses can ascertain the ratio of customers who purchased other products after buying one product, conduct customer segmentation based on products, perform product response testing, and plan events accordingly. Unlike the previous UA tool, which analyzed visitors according to predefined guidelines, GA4 extracts a vast amount of diverse information to provide users with the desired insights. Users can then utilize this information to accurately understand the needs of site visitors. SEM RUSH is an online marketing toolkit that can be used for content marketing, market research, and SNS keyword research through search engine optimization (SEO) databases, improving content that can increase search rankings, tracking and analyzing various websites and marketing strategies, brand reports, social media posts, and advertisements to attract Internet users' attention and help them enter the website. With SEM RUSH, you can take advantage of a report function that extracts data such as traffic and inflow channels by entering a URL address, and a project function that extracts data suitable for specific situations. For example, Social Media Tracker tracks social media follower growth and activity data, and Content Analyzer analyzes website content to track the content that users see most often. With SEM RUSH, you can analyze your competitors’ digital marketing strategies and easily derive data to use for your own performance marketing. By effectively utilizing digital marketing tools like GA4 and SEM RUSH, businesses can gain insights into various aspects of user behavior. They can identify the keywords users used to visit their website, track the exposure levels of different advertisements, and understand the specific conditions under which visitors convert into customers. With this data as a foundation, businesses can formulate strategic performance marketing plans and operate their websites efficiently. One-click leads to results Performance marketing considers actions such as purchases, sign-ups, app installations, and survey participation as a single outcome, viewing clicks and conversions as achievements. Depending on the number of these achievements, the advertiser pays for the advertising. Performance marketing makes it simple to measure the effectiveness of current campaigns and the return on investment (ROI). It allows advertisers to efficiently manage limited budgets and easily assess whether their advertisements are performing well. Certainly, the capabilities of online data collection far exceed those of offline methods. For performance marketing, which emphasizes tracking and results, online platforms offer invaluable benefits. Let's consider aspiring YouTube creators as an example. Will uploading entertaining or provocative videos automatically lead to more subscribers and ad revenue? While luck might play a role at times, successful YouTube creators understand the importance of being data-sensitive. YouTube, as an online platform, provides a wealth of diverse and accurate data. Features like analyzing video views, average watch time, and popular content are automatically available. Leveraging this data allows creators to strategize and attract more viewers to their videos. Strategic YouTube creators are essentially using performance marketing naturally. Korea's leading interior platform, ‘Bucketplace’, also achieved higher marketing effectiveness through effective remarketing. Remarketing refers to marketing strategies that encourage potential customers who have interacted with a brand to engage again. For instance, if a customer logs in to the website and adds products to their shopping cart but leaves without completing the purchase, the brand can send a reminder email later to bring back their interest. This is a typical example of remarketing. 'Bucketplace’ divided its customers not only based on demographic factors such as gender and age but also on various criteria such as the duration after signing up, purchase history, and recent activities. Customers were classified based on their in-app behavior as well. Thanks to online-based performance marketing, such segmentation was made possible. Using this data, the platform focused on remarketing efforts towards customers who had signed up but not made any purchases. For customers with a purchase history, they concentrated on remarketing during moving seasons or when there was a change in the season, which typically coincided with increased interest in home improvement and redesigning needs. Hyosung's renewed website - will it raise performance marketing results? Hyosung also felt the need for performance marketing and conducted a website renewal based on data. First, the first keyword on the renewal website that Hyosung paid attention to is ‘global’. This is because the data show that majority of product consumers are global consumers and access Hyosung's website from various countries such as China, India, and Brazil. Based on this, the new website connects pages by country. In order to increase the utilization of global customers, efforts were made to increase the participation of customers around the world, such as introducing a design structure that facilitates multilingual processing and preparing contents for diverse overseas consumers. The second keyword is ‘improving accessibility’. Customers who visit Hyosung's website can explore what technologies Hyosung provides for eco-friendly products, what the functions of the products are, and how to cooperate with Hyosung. To help users who visit Hyosung's website find the information they are looking for, the ease of navigation has been enhanced through detailed search tools and search filters by category. Displaying easily accessible products separately enhances accessibility and usability. Although it may seem simple as customers can easily obtain information, achieving performance marketing success becomes within reach. For the past 70 years, Hyosung has been creating solutions that revolutionize customers' lives and industries, spanning from fibers and materials chemistry to heavy industries and renewable energy. Now, with a new brand mission, Hyosung is committed to being the first to practice innovation and sustainability for a better tomorrow with our customers. One of the methods to accomplish this mission is through performance marketing, and the renewal of the website is also part of the journey toward achieving these goals. The key to the success of performance marketing lies in data. As a global company striving for innovation and customer satisfaction, Hyosung will continue to listen to customers' voices based on data and evolve into an innovative enterprise. Terms meaning GA4 Google Analytics 4, a web log analysis tool that collects and analyzes user behavior information by embedding a tracking code on the website UA Universal Analytics, an analysis tool used by Google prior to GA4 (GA3) SEM RUSH A platform that provides integrated solutions for business marketing, such as Search Engine Optimization (SEO) and competitor analysis. Search Engine Optimization (SEO) Search Engine Optimization, the task of increasing the inflow rate by optimizing a specific website or webpage to be exposed at the top of the search engine result page



Introducing Hyosung Group's 1st Brand Builder

In some cases, an old and outdated brand can unexpectedly become beloved by the Generation Z and transform into a trendy, enduring brand. Gompyo, a flour brand from Daehan Flour, is a prime example. Despite being unfamiliar in the 1020s, Gompyo, established in 1952, reinvented itself through collaborations like Gompyo jacket, releasing various joint products such as Gompyo Flour Cushion, Gompyo Popcorn, and Gompyo Beer. These innovative offerings made Gompyo the trendiest and most unique brand among the Generation Z. The reason behind the success of these aging brands is their ability to create a sense of brand buzz. By sharing content that resonates with Generation Z and engaging customers through trendy offline events like pop-up stores, these brands are rejuvenated as youthful and fashionable, continuing to be adored by the younger audience. Supporters marketing is being increasingly employed as a strategy to amplify the share of voice (SOV) of companies and brands, allowing them to swiftly transform their brand image and become memorable to Generation Z. Typically consisting of college students, these brand supporters play a crucial role in introducing new products or campaigns and disseminating the brand's message. When a brand or company plans to launch a new product, supporters take on the responsibility of promoting it, enabling them to gauge the market's response and gather feedback from genuine customers. Moreover, companies opt for supporters marketing because it allows them to create content based on provided information and effectively reach a large audience, ensuring a consistent and viral delivery of the brand message. In contrast to conventional supporters marketing approaches, Hyosung has developed the "Hyosung Group Brand Builder" program to offer practical experience to university students and those preparing to enter the workforce, providing them with hands-on opportunities for active involvement. *Wait, what is supporters marketing? Companies and brands are increasingly leveraging advocate marketing to disseminate information about new products or announcements through the consumer's voice. In the past, supporters marketing predominantly targeted tech-savvy individuals in their twenties, who actively utilized bloggers and social media platforms. However, in recent years, the role of supporters has gained prominence due to the rising influence of personal media. Consequently, supporters marketing has evolved, with segmentation according to the specific target audience of the company or brand, such as individuals in their twenties, homemakers with children, and office workers. While providing opportunities to experience new products and spreading news remain fundamental, supporters now engage in various activities, including developing new recipes, participating in company corporate social responsibility (CSR) initiatives, and contributing to marketing strategies. As channels to enhance consumer engagement for brand promotion, supporters have become increasingly significant. Their ability to independently generate content for companies or brands often resonates well with consumers, leading to a natural viral marketing effect. Hyosung Group's Brand Builders go beyond mere supporters who promote products and groups; they also enjoy the opportunity of collaborating with Hyosung Group's brand marketing team. In addition to planning content that informs consumers about Hyosung Group, they actively engage in various brand marketing practices, including CEO marketing strategies, recruitment branding strategies, and marketing strategies tailored to Generation M or Generation Z. Through this collaboration, Hyosung Group's Brand Builders gain invaluable experiences and receive feedback, which helps to strengthen Hyosung Group's overall direction and brand identity. Furthermore, Hyosung Group extends support to these Brand Builders, empowering them to develop their capabilities as aspiring marketers. 'Hyosung Group Brand Builder', a meeting between Hyosung Group and prospective marketers Hyosung is a b2b company that specializes in chemicals, textiles, heavy industry, and high-tech materials, which might not be widely familiar to the general public. However, Hyosung's technological prowess is well-regarded worldwide, evident from its substantial global market share and the high demand from various companies. Despite this recognition in the business world, it may be challenging for the general public to fully grasp the nature of Hyosung's operations. To bridge this gap and create a friendly introduction of Hyosung's main industries to the public, Hyosung Group has developed the "Hyosung Group Brand Builder" program. The primary aim is to enhance brand awareness and preference for Hyosung, particularly among Generation Z, a highly influential consumer demographic. The "Hyosung Group Brand Builder" program is specifically crafted to support university students with aspirations to become marketers. It provides them with valuable opportunities to experience and develop brand marketing skills, drawing from their fresh ideas and planning abilities. Selected as prospective marketers, the Brand Builders actively engage in Hyosung's brand marketing practices and receive active support in creating marketing strategies and executing programs, focusing on innovative and unique ideas tailored for Generation Z. The Brand Builder program differentiates itself from other supporters' programs, as it consists of only 3 individuals. These participants engage in the actual work of brand marketers, focusing on areas like ESG branding, digital marketing, and brand MD, which are not easily experienced through simple supporter or external activities. They perform specific, hands-on tasks such as CEO marketing, establishing marketing strategies for Generation M, and recruitment branding. The working group provides them with specific, hands-on feedback to encourage their growth. Through the Brand Builder program, Hyosung supports the growth of university students who dream of becoming marketers. What do Hyosung Group Brand Builders do? The Hyosung Group Brand Builders completed their recruitment on January 23 and are currently in the midst of their first year of activities, which commenced with a kick-off orientation. Over the course of about seven months, from February to August 2023, the three brand builders will be immersed in the real work of brand marketers, focusing on tasks that resonate with Generation Z, such as Hyosung Group's ESG branding, digital marketing, and Brand MD. In the inaugural batch, the brand builders are dedicated to enhancing Hyosung Group's brand awareness. They are actively involved in establishing a strategy to rethink Hyosung Group's image for Generation M, proposing improvements to Hyosung's recruitment branding, and devising a strategy for Hyosung Group's CEO branding. In addition to their primary responsibilities, the brand builders are gaining hands-on experience in supporters’ activities that mirror real brand marketing tasks. These activities include planning SNS content to promote NFT Town, visiting pop-up stores and sample rooms for apparel brand launch planning, and participating in eco-friendly apparel brand planning. As aspiring marketers, the Hyosung brand builders are earnestly striving to excel, receiving guidance and feedback from real-world executives. Their novel and quirky ideas are actively put into practice, setting them apart from other supporters in the program. Based on a survey, it was found that 80.8% of college students and job-seekers engage in extracurricular activities, with supporters and experience groups being the most prevalent choice, accounting for 31.5% of the participants. The primary reasons for their involvement in these activities are overwhelmingly driven by their desire to experience and explore new things (55.9%) and to acquire valuable experiences that will aid them in securing employment (47.2%). These findings highlight that Generation Z actively seeks to participate in supporters’ activities, which are among the most common extracurricular pursuits, as a means to self-development, job preparation, and the acquisition of fresh experiences. Hyosung embarked on the recruitment of its first batch of brand builders with the specific aim of promoting the Hyosung Group brand to the Generation Z. Unlike traditional supporters, the brand builder activities offered by Hyosung are designed to go beyond mere brand promotion. We provide brand builders with hands-on experiences that contribute to their growth and development as marketers. In a manner consistent with Hyosung's dedication to researching and investing in technology for a sustainable future, the company also extends support and encouragement to nurture aspiring marketers through its Brand Builder program. Hyosung's Brand Builders are effectively fostering loyalty among the Generation Z by reaching out and engaging with them directly. With the successful completion of the initial round of Brand Builder activities, Hyosung Group aspires to maintain and further develop the program as a platform for cultivating marketers equipped with innovative planning skills. The ultimate goal is to continuously create a profound impact on the Generation Z, further solidifying their brand loyalty and affinity for Hyosung Group.



Global Hyosung, The Connection between Hyosung and the World

Hyosung Group has a strong presence in its local market and has been steadily extending its global production facilities to achieve greater recognition on the international stage. This has enabled us to establish a global production and sales network, spanning 106 locations in 28 countries, offering exceptional and exclusive products and services that are distinctive to Hyosung. Hyosung Group currently operates in various international locations. These include 8 sites in a North American country, 8 sites spread across three countries in Central and South America, 12 sites located in eight European countries, 6 sites in four Middle Eastern and African countries, 71 sites in eleven Asian countries, and one site in Oceania. Hyosung showcases its cutting-edge technology on a globally through our numerous international corporations. Our technical expertise has earned us widespread recognition and demonstrated impressive accomplishments across the world. These achievements have been made possible by the dedicated individuals working in the closest proximity to the world for the cause of Hyosung Global. We would like to introduce you to the people working to help Hyosung connect with the world and promote Global Hyosung. On the Front Lines of Global Hyosung, Our Overseas Expatriate There are those who endure unfamiliar environments, constantly experiencing alien cultures, and the discomfort of using a language other than their mother tongue - all standing on the front lines of creating Global Hyosung. Hyosung’s overseas expatriates play an important role in connecting us with our customers. They leverage the technical expertise of Hyosung to establish Global Hyosung. Those who have completed their overseas assignments and returned to Hyosung will share their experience. Q) Could you please introduce yourself? A) Hello. I worked as an overseas expatriate at our branch in New York for about three years. Currently, I am working in the Brand Marketing Team of Hyosung Corporation's Strategic Headquarters. In my role as project manager (PM), I handle brand strategy development for the group and OCs, the collection and management of execution strategies for brand marketing, the coordination of guides, eco-friendly brand marketing, and IMC campaigns. Q) You mentioned that you worked in New York. How was the working environment and atmosphere? A) Although I was in New York, we didn’t have an office at that time. It was tough as I had to work alone without administrative support. From finding a place to live in New York to handling receipts, everything was a challenge to do on my own. Q) How was it when you first started working overseas? Were there any issues with communication or cultural differences? A) As mentioned earlier, starting overseas work without a home or office was difficult. Communication with the headquarters was difficult due to the time difference and distance. Not being able to quickly respond to the atmosphere, issues, and management directives from the headquarters to my work was frustrating. More surprising than the cultural difference was that the key to business success lay not in customer relationships but in the company and its products. In Korea, 1:1 customer relationships are crucial and can be the key to business success, but in the U.S., while 1:1 relationships are necessary; they don't have a significant link to business success. It was both beneficial and challenging to realize that consumers thoroughly consider brand power, exposure through marketing, product excellence, and whether it meets their needs. In the U.S., a customer-centric approach is needed as the focus of customer interaction differs from how we deal with business in Korea. I dedicated extensive effort to maintaining strong business connections between Hyosung's rear industry and front industry companies while simultaneously establishing relationships with U.S. customers to prevent any breakdowns. Each process of trying to develop a business, finding a new marketing angle, developing new products, researching, and excavating ideas was a bit hard as I put my heart and soul into it. I felt pressure about my own performance and results then! Q) How far do you feel the status of 'Global Hyosung' has come, as you have experienced as an overseas Expatriate? A) Hyosung is widely recognized and highly regarded as a producer of yarns, thanks to its efforts to enter the textile fashion market in the United States. I felt proud and gratified to see that Hyosung's strategic products were gaining traction with customers through ongoing exposure. However, we needed to establish a more clear, more advanced, and global image to reach 'Global Hyosung.' To engrave that we are a company with a clear identity, philosophy, and vision as an equal partner, I felt a necessity to break away from the image of making and supplying excellent technical yarns. When I returned to Korea and joined the Brand Marketing Team, I was able to participate in brand renewal work. Q) When was the proudest moment while working in the U.S.? A) It's the achievements, for sure. Nothing is more rewarding than seeing the work I've continuously built become successful and yield good results. It was exciting to see the final consumer products using Hyosung materials launch. Still, seeing the positive customer reactions, excellent sales results, and more applications in more programs in the next season gave me even greater satisfaction as it became a core material. The good performance made every process of managing and handling work enjoyable. Q) Now that you have returned after serving as an overseas Expatriate, what is your current goal? A) My goal is to create 'Global Hyosung' not as a 'supplier' providing high-quality products recognized for its technology, which I felt was lacking while working abroad, but as an equal partner. This year, I plan to work even harder to renew the Hyosung Group and OC brands, and our goal is to properly inform and show our vision, future-oriented nature, philosophy, and core technology to our customers. The bridge between Hyosung and our consumers, the International sales division Hyosung's International Sales department connects customers in various countries worldwide with a wide range of products developed through Hyosung’s technological expertise. Hyosung team members in this department work closely with the global community, ensuring they are always on top of the international market despite their location in South Korea. Q) Could you please introduce yourself and share the reasons that led you to work in international sales? A) As the department head for managing the export and sales of Korean-made spandex to America and Europe, I have previous experience overseeing our Türkiye branch. Working in international sales was a natural fit for me, as our team members often have overseas postings or dispatch experiences, gaining diverse cultural competencies through their work. Q) How do you overcome time differences to communicate with customers in the Americas and Europe? A) In certain countries like Europe, their morning tasks only begin around 3-4 PM in Korean time. Therefore, we manage basic outbound and documentation tasks in the morning while responding to emails from clients or local staff sent after our workday ended the previous day. We also gather the necessary materials during this time. After 4 PM, we start working on the tasks that require communication with the local clients and staff who have just started their day. Q) Sounds really tough. The global political climate, exchange rates, and time differences must all be considered. Do you have any special stories brought about by these difficulties? A) We typically conduct business in dollars, thus we face relatively fewer currency risks. However, there's a distinctive episode from my tenure in Türkiye. Türkiye operates a DBS (Direct Banking System) involving businesses, customers, and banks. Initially, customers provide collateral to the bank, determining a limit for them. During transactions with customers, we register the invoice with the bank, and they settle the amount due on the maturity date within the determined limit. These transactions between the bank and customer occur in local currency, known for its high volatility. On one occasion, the exchange rate surged from 3.5 Lira to 7 Lira per dollar, causing a decrease in our limit and presenting challenges for us. On the other hand, our local clients were burdened by the fact that the amount of Lira they were required to pay had doubled. Q) Are there any other challenges besides exchange rates and world affairs? A) It is common for us to travel abroad. Since the pandemic has been contained, we’ve been able to revisit customers. There are two main challenges when traveling: time zones and language barriers. In Latin America, initial communications are in English but gradually shift to Spanish with the locals. I request a native speaker to translate to communicate with clients. But unfortunately, a ten-word statement is often reduced to two or three in translation, causing us to miss small details. Getting used to time zones is more challenging! I sent the first week in a foreign country just getting used to the local time. Jet lag follows the return to Korea after the trip. No matter how much you travel, you never get used to time zones. Ha ha. Q) Are there any specific skills you believe a successful overseas salesperson needs? A) Having a comprehensive understanding of our products is essential. To communicate effectively with foreign customers, it is crucial to have a broad understanding of global economic trends and the political, economic, and cultural aspects of the countries and regions you oversee, both at a macro and micro level. It is crucial to have a deep understanding of market trends and economic conditions in the relevant country. To be able to comprehend customers better and prevent significant errors during meetings or consultations, it is equally essential to have a high level of language and cultural comprehension. Obviously, trade knowledge is also important. Q) Over the course of your work thus far, have there been instances that made you particularly proud or satisfied? A) When I was working in Türkiye, I met a client from Egypt. We made frequent visits to Egypt since it was a highly sought-after market. Initially, our competitors held a monopoly, securing more than 150 tons. Despite this, we continued to visit our customers and gradually developed meaningful connections with them. After four years, our competitor could only supply around 10 tons, while we were able to supply over 250 tons. The positive results of cultivating long-term relationships are truly rewarding. Q) This is the last question. Do you have a goal you're determined to achieve this year? A) My goal is to increase our market share in Mexico and Colombia, countries under my jurisdiction with relatively low market share. This is my short-term goal, and I plan to pursue it aggressively. We are halfway through the year, so achieving the sales plan we established last year remains a top priority. Hyosung's remarkable success in foreign markets and continuous growth with a significant market share can be attributed to the unwavering dedication of our team members who work directly with our global clients. We appreciate the contributions of Hyosung's global team members, who skillfully manage diverse cultures and management systems in their roles. Their efforts are instrumental in driving Hyosung's competitiveness on a global scale. At Hyosung, we uphold the Hyosung Way, which unites all our global members to work together with strength and determination to turn our dreams into reality. We acknowledge that our success on a global scale is a result of the hard work put in by our members worldwide at Hyosung. Therefore, we strive to encourage to continuous development of those managing our overseas divisions. At Hyosung, we offer a variety of programs to cultivate global talent and provide ample support and recognition. We firmly believe in our technology and are driven by our determination to tackle future challenges. Our commitment to becoming a leading global corporation remains unwavering.



Hyosung Group: Pioneering a Path to a Better Future

There is a company that fearlessly confronts the possibility of failure, persistently strives towards a better future and is unafraid to navigate challenging paths. While this company may not be one that everyone feels compelled to follow, it undeniably paves way, unveiling new innovations at the end of a journey that someone must undertake. Hyosung has consistently pursued novel technologies to enhance human life, preserve the environment, and enrich the value offered to its customers, all driven by its inherent technological DNA. Hyosung is a company that actively contributes to society, fostering a better future by developing innovative, eco-friendly materials, components, and equipment, positioning itself as an ESG company. With a mission to become the world's leading innovative solutions company, Hyosung aspires to lead transitional era by harnessing the strength and determination of its global workforce. Hyosung's Holding Company, Business Companies, and Various Affiliates Over the past 50 years, Hyosung has played a leading role in domestic and international basic industries, forging its history through relentless challenges and the triumph over countless adversities driven by technological development. As the first domestic company to establish a corporate-affiliated research institute and initiator of numerous groundbreaking achievements, Hyosung has evolved into a global enterprise that shapes and advances peoples’ lifestyles across diverse sectors, including textiles, industrial materials, chemicals, heavy industries, and information and communications. Hyosung has solidified its presence by establishing Hyosung Corp as the holdings company and four business companies; Hyosung TNC Corp, Hyosung Heavy Industries Corp, Hyosung Advanced Materials Corp, and Hyosung Chemical Corp. As of December 31, 2020, it boasts 124 affiliates spanning textile trade, heavy industries and construction, industrial materials, information and communication, and various other business sectors. With a commitment to expanding into international markets and driving growth, Hyosung has established global production bases, operating in 113 business locations across 28 countries. Its overseas presence includes 8 locations in 1 country in North America, 8 locations in 3 countries in Central/South America, 12 locations in 8 countries in Europe, 6 locations in 4 countries in Middle East/Africa, 71 locations in 11 countries in Asia, and 1 location in Oceania." * Hyosung's Affiliates - Textile Trade Business: Hyosung TNC - Heavy Industries and Construction: Hyosung Heavy Industries, Hyosung Good Springs, Chinhung International, Inc - Industrial Materials: Hyosung Advanced Materials, Global Safety Textiles - Chemicals: Hyosung Chemical - Information and Communications: Hyosung TNS, Hyosung Information Systems, Hyosung ITX, Galaxia Electronics, Galaxia Moneytree - Other Business Areas (Imported Car Sales and Maintenance): The Class Hyosung, Hyosung Toyota, The Premium Hyosung, FMK, Hyosung Premier Motors, A-Seung Automotive Group, and others. Hyosung's Holding Company and Business Companies In 2018, Hyosung Corporation transitioned into a holdings company, establishing spin-offs and new companies across different business divisions. Hyosung TNC Corp, specializing in the textile and trading sector, Hyosung Heavy Industries Corp, dedicated to heavy industry and construction sector, Hyosung Advanced Materials Corp, focusing on the industrial materials sector, and Hyosung Chemical Corp, operating within the chemical sector. The transition to a holdings company structure has brought about several advantages, including enhanced transparency in corporate governance and the establishment of a robust management system promotes accountability. The holding company, Hyosung Corporation, primarily concentrates on overseeing its subsidiaries and making strategic investments, while each business companies are entrusted with the responsibility of managing their respective fields of operation. Hyosung TNC, based on its core values of being Agile, Sensible, Futuristic, and Cooperative, aims to be an innovator that creates sustainable lifestyles. The company primarily focuses on the textile business and is dedicated to building a technology-driven ecosystem. Specializing in the production of yarns such as spandex, nylon, and polyester, as well as fabrics and dyed products, Hyosung TNC has constantly held the top position in the global spandex market for ten consecutive years with its CREORA Spandex. Moreover, the company has been at the forefront of the eco-friendly textile market, leading the way with its sustainable yarn brand, regen. Hyosung Heavy Industries is committed to harnessing innovative technology to create a sustainable energy of future for the betterment of humanity. Recognizing energy as an essential resource, the company endeavors to develop cutting-edge solutions that generate and manage energy, positioning itself as a leader in total energy solutions. With its core focus on heavy electrical machinery, Hyosung Heavy Industries boasts world-class technological capabilities in industrial energy. The company is dedicated to advancing various technologies to generate and distribute energy, serving as a comprehensive energy solution provider. It has garnered recognition for its outstanding quality in business areas such as power equipment, encompassing transformers, circuit breakers, and rotating machinery, including motors and gears. In addition, Hyosung Heavy Industries is expanding its presence in emerging sectors such as energy storage systems (ESS) and reactive power compensation devices (STATCOM). Furthermore, it is actively building a value chain for hydrogen charging stations, contributing to developing and adopting renewable and clean energy sources. Leveraging its extensive experience and trusted reputation, Hyosung Heavy Industries also engages in various construction projects, leveraging its expertise in the field. Hyosung Advanced Materials Corp aims to become an innovator setting new standards for safety and comfort as a future-oriented, confident, reliable, and proactive company. It develops and produces promising new materials such as high-strength industrial yarns and fabrics and steel wire materials used in various fields such as automobiles, civil engineering, construction, agriculture, and the military. In addition to the world's top-selling products, such as tire cords, yarn for automobile seat belts, and airbag fabrics, it is strengthening its competitiveness through the independent development and commercialization of new materials that will lead the future, such as carbon fibers and aramid. Hyosung Chemical Corp strives to provide chemical essential chemical materials in our lives in a sustainable manner, without harmful elements. As the world's second-largest manufacturer of Nitrogen Trifluoride (NF3), a critical component in semiconductor and display manufacturing processes, Hyosung Chemical's NF3, with a purity level of 99.999%, is gaining significant attention in the industry. Another key product of Hyosung Chemical is polypropylene, a plastic material widely recognized for its safety and harmless property. In addition to its primary use, the company also produces and supplies by-product hydrogen derived from the polypropylene manufacturing process. This contributes to advancing a hydrogen society and demonstrates Hyosung Chemical's dedication to creating future-oriented chemicals. As a leader in fine chemicals, the company aims to redefine human potential and shape tomorrow's chemical industry. In addition to the holding company and business companies, Hyosung has numerous affiliates in various business fields, making efforts to improve our lives. Now, let’s dive into the affiliates according to each business field. Hyosung's Affiliates_#1. Heavy Industry and Construction The representative affiliates in the heavy industry and construction sector are Hyosung Goodsprings and Chinhung International, Inc. Hyosung Goodsprings is, Korea’s leading pump manufacturing company. As a pump production specialist representing South Korea, Hyosung Goodsprings manufactures pumps used in all locations and industrial sites, from general buildings and skyscrapers to power plants and oil refineries. Moreover, based on its pump production, Hyosung Goodsprings has expanded into new areas and is currently the top company in the domestic RO seawater desalination plant business. Chinhung International, Inc, a comprehensive construction company that centers on civil engineering, architecture, and housing projects, is striving to leap forward as a trustworthy construction company based on its 50 years of construction know-how. Hyosung's Affiliates_#2. Industrial Materials Hyosung has two key affiliates within the industrial materials sector: Hyosung Advanced Materials and Global Safety Textiles (GST), which collaborate and share technology. GST is a renowned manufacturer of the world's largest airbag fabrics, placing the utmost importance on safety. The expertise of GST in producing airbag fabrics and its technical capabilities as a cushion maker enables Hyosung Advanced Materials to produce airbags of superior quality that are recognized internationally. GST is involved in producing airbag fabrics and industrial yarns, prioritizing the safety of human life above all else. Its core ideology revolves around the belief that nothing is more valuable than safeguarding human life. Hyosung's Affiliates_#3. Information Communication Hyosung's ICT sector affiliates include Hyosung Information System, HyosungITX, Galaxia Electronics, and Galaxia Moneytree. First, Hyosung Information System (HIS) is a specialist company in data infrastructure and solutions, established as a joint venture between Hyosung and Hitachi Data Systems (now Hitachi Vantara). At the time of its foundation, it was an IT specialist company that handled enterprise storage. It was the first to supply mainframes and disks to public and financial institutions in Korea. It started providing ICT technologies, such as enterprise-wide software for storing, transmitting, and manipulating information through all computers and networks connected to storage, and audio-visual systems, evolving from an IT company to an ICT specialist company. Currently, it performs all tasks of collecting and processing a company's data in one place and obtaining valuable insights. It has grown into a company responsible for the overall digital transformation (DX) of the company. HyosungITX is a company that offers business a wide range of IT solutions. Its services include contact center operations that provides and manages the communication channels between companies and customers, IT services providing various network infrastructure and technologies to companies, and display solutions business offering everything from the sales to installation of video equipment such as beam projectors. As a versatile IT solutions provider, HyosungITX delivers comprehensive support to companies across various industries, offering the necessary infrastructure, technologies, and services to meet their IT requirements. Galaxia Moneytree is the final affiliate to be introduced. This leading domestic fintech company provides essential e-commerce solution with integrated electronic payment (PG, Payment Gateway). As the first company in Korea to develop mobile department store gift certificates and hold the top market share in the domestic prepaid payment market for convenience stores, Galaxia Moneytree leads the comprehensive financial platform service in the fintech market. Galaxia Moneytree, which enables all online and offline transactions with fintech technology, is also attracting attention due to its subsidiary Galaxia Metaverse. Galaxia Metaverse is a blockchain specialist company that issues, sells, distributes, and manages digital assets as NFTs. Through Galaxia Metaverse, Hyosung is preparing to establish the foundation of the NFT platform business and rise as a more flexible fintech company. Hyosung Group, Preparing for the Future with Agility Hyosung Group comprises numerous affiliates across diverse industrial sectors, including business companies within major areas. The common thread uniting all Hyosung companies and affiliates is their focus on innovations for our lives. Hyosung Group continuously researches and develops future-oriented services and products to enhance the convenience and to steer society toward a better direction. Agile in responding to changing times, the group engages in various businesses, recognizing the direct connection between Hyosung's future and the future of humanity. Hyosung Group is an ever-evolving entity that embraces change and new challenges to shape a better world. With a steadfast commitment to innovation, the group strives to provide customers with innovative services and products that cater to their evolving needs. Through continuous investment, research, and development, Hyosung prepares to lead the future and ensure its long-term competitiveness. Hyosung remains dedicated to creating and sustaining a better life for humanity. Our unwavering promise is to grow ceaselessly, earning and responding to our customers' trust. Keep an eye on Hyosung Group's future journey as it fulfills its commitment to customers who anticipate innovation and sustainability.