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2023.06.14

RE:GEN 3. New Energy

There has never been a greater concern for the environment than today, as environmental conservation and the climate change have become paramount issues. Many people recognize the severity of the climate crisis due to unprecedented heat waves, torrential rains, and typhoons. Increasing calls to replace fossil fuels such as oil and coal with clean, sustainable energy sources have been made in response to the devastating impact of fossil fuels on nature. As we enter a new era of energy, we must transition from fossil fuels to electric energy, which boasts significantly higher efficiency. Hyosung is committed to improving power infrastructure through decarbonization, accelerating hydrogen energy commercialization, and developing environmentally friendly solutions using eco-friendly insulating materials for electrical and industrial devices. Hyosung strives to supply and utilize clean energy from nature, such as wind, solar power, and hydrogen. Envisioning a New Energy Era through Decarbonization The push to reduce fossil fuel energy consumption stems from carbon emissions. Typically, fossil fuels are burned to generate energy, releasing carbon dioxide into the atmosphere. In response to these issues, electric energy has gained attention as a means of reducing carbon emissions simultaneously. It offers improved energy efficiency compared to fossil fuels and reduces air pollution and carbon emissions. Hyosung Heavy Industries, a global leader in total energy solutions, leads various efforts to enhance power infrastructure, electrify it, and decarbonize it. As part of these efforts, Hyosung is also focuses on developing systems that stably store and transmit energy from natural sources such as wind and solar power. Hyosung Heavy Industries has successfully localized South Korea's first Medium Voltage Direct Current (MVDC) transmission system for renewable energy and secured its first order. The MVDC system transmits medium voltage electricity at 1.5-100kV as direct current. Compared to the current alternating current (AC) transmission method, MVDC offers less power loss over long distances, can utilize existing transmission facilities, and can transmit 40% more electricity. This makes it an emerging method for efficiently transmitting renewable energy sources such as wind and solar power. Hyosung Heavy Industries plans to supply its domestically produced MVDC technology to Jeollanam-Do. Another technology that the company possesses is STATCOM, a domestically exclusive and internationally recognized technology in the field. STATCOM enables the stable supply of renewable energy, which can fluctuate rapidly depending on weather conditions, by maintaining a constant output voltage, ensuring a stable power supply. Lastly, Energy Storage Systems (ESS) significantly contribute to the commercializing renewable energy. These systems are crucial for stably using renewable energy sources with inconsistent generation capacities. Hyosung Heavy Industries has successfully entered the European ESS market, earning global recognition for its quality and technical capabilities. Hydrogen Society Started from Hyosung’s Hydrogen Value Chain Among the various clean energies that replace fossil fuels, hydrogen energy has the greatest potential for commercialization. Hydrogen can be obtained from water; when used as fuel, it does not produce pollutants that cause the greenhouse effect. Instead, hydrogen, which turns into water vapor, becomes water again, making it one of the resources that can be obtained endlessly. Hydrogen, which is most abundant on Earth in the form of water! Hyosung is focusing on hydrogen as the driving force for the future Earth and as a key energy that will lead the energy industry in the near future. At the group level, Hyosung is building a hydrogen value chain and developing various technologies to lead the hydrogen society. Hyosung Chemical produces and sells the by-product hydrogen. Hyosung Advanced Materials leads the commercialization of hydrogen cars with carbon fibers that go into hydrogen car fuel storage devices. Hyosung TNC is leading the way with a fuel tank liner made of nylon. In addition, Hyosung Heavy Industries is making company-wide efforts for the hydrogen society, such as expanding green hydrogen production using renewable energy such as solar and wind power and operating hydrogen fueling stations. Energy technologies to reduce carbon do not change at once, and particularly hydrogen and renewable energy cannot replace all fossil energy in a short time, but Hyosung's goal of building a hydrogen value chain is to lead the hydrogen society, reduce carbon emissions, and decarbonize through hydrogen energy and clean energy. Hyosung's Steps Towards a Hydrogen Vision Hyosung is diligently striving to expedite the transition toward a hydrogen society. Despite varying roles within individual companies, they share a common goal of achieving a hydrogen economy. Hyosung Chemical intends to utilize byproduct hydrogen, produced during the manufacture of high-purity propylene, a key component of Hyosung Chemical's proud polypropylene, in the creation of liquid hydrogen. Hyosung Heavy Industries is constructing a hydrogen liquefaction plant with an impressive capacity of 13,000 tons on the premises of the Ulsan Yongyeon factory, aimed to be completed within the year. This facility, a singular entity boasting the world's largest scale, promises to supply enough fuel to power a hundred thousand passenger vehicles. To this end, an agreement has been made with Linde Group, a German industrial gas specialist chemical company, to cooperate on everything from the production of liquid hydrogen to transportation and fueling facility installation and operation. Upon completion, the full-scale operation is planned from May 2023. The plant will produce blue hydrogen, which reduces carbon dioxide emissions, by developing and utilizing Carbon Capture, Utilization, and Storage (CCUS) technology. Creating blue hydrogen, a next-generation eco-friendly energy, by capturing carbon dioxide emitted during product manufacturing at Hyosung Chemical, showcases the most practical approach to achieving carbon neutrality by transforming carbon into clean energy. Furthermore, Hyosung Heavy Industries partnered with the Jeollanam-Do to develop the green hydrogen industry and has broken ground on a marine wind power generation assembly plant. Hyosung, currently constructing the country's largest 10MW-class electrolysis facility, plans to increase the green hydrogen production volume to a maximum annual output of 200,000 tons. Not only in the realm of liquid hydrogen but also in the commercialization of hydrogen vehicles, Hyosung is making significant efforts. Hyosung Heavy Industries is spearheading the establishment of liquid hydrogen fueling stations in the regions of Ulsan, Gwangyang, Geoje, and Gyeongsan and planning to build a large-scale liquid hydrogen fueling station along with approximately 120 hydrogen fueling stations in critical national hub areas for the supply of liquid hydrogen produced at the factory. By constructing these liquid hydrogen fueling stations, Hyosung anticipates contributing to the commercialization of hydrogen vehicles. Additionally, Hyosung Advanced Materials and Hyosung TNC are leading the way in the commercialization of hydrogen by developing essential materials for it. Hyosung Advanced Materials primarily develops and produces carbon fiber, a material used in hydrogen vehicle fuel tanks. The application of carbon fiber fuel tanks is expected to significantly contribute to accelerating the commercialization of hydrogen vehicles by enhancing their safety, durability, and energy efficiency. Also, Hyosung TNC, for the first time among domestic companies, has utilized nylon as a liner material for hydrogen fuel tanks. This liner, an inner molded plastic of a nylon hydrogen fuel tank, is vital in preventing hydrogen leakage. Compared to the previously used metal liner, it is lighter and more durable, thus becoming a spotlighted key material that increases the energy efficiency of hydrogen vehicles. Hydrogen vehicles utilizing fuel tanks equipped with Hyosung TNC's carbon fiber and nylon liner are expected to elevate safety, durability, and energy efficiency, thus substantially accelerating the commercialization of hydrogen vehicles. Additional Endeavors for Renewable Energy Utilization Hyosung is dedicated to addressing various challenges and developing practical alternatives to fossil fuels in hydrogen and renewable energy utilization. In particular, Hyosung strives to develop and supply products that replace insulating materials in power and industrial equipment with eco-friendly alternatives, thereby enhancing efficiency. Hyosung Heavy Industries has signed an MOU with the Korea Electric Power Research Institute and developed an eco-friendly gas-insulated switchgear that substitutes the sulfur hexafluoride (SF6) gas commonly used in circuit breakers. SF6 gas is advantageous due to its excellent insulation and non-flammability, but its greenhouse gas emissions and negative environmental impact demand eco-friendly alternatives. Hyosung Heavy Industries has independently developed a 170kV eco-friendly gas-insulated switchgear and a circuit breaker utilizing a Vacuum Interrupter, which emits no greenhouse gases. Preceding the development of eco-friendly circuit breakers, Hyosung Heavy Industries has also replaced mineral oil previously used in transformers with biodegradable insulating oil, capable of decomposing over 60% naturally while ensuring fire safety. By contributing to environmental risk reduction, Hyosung Heavy Industries continues to expand its eco-friendly product lineup, preparing diverse solutions to replace materials in power and industrial equipment and enhance energy efficiency. In the face of the climate crisis, there is no longer any excuse for burning fossil fuels for convenience. Hyosung is exploring new energy sources to replace fossil fuels and searching for efficient commercialization methods for a better Earth, a better environment, and safer lives for future generations. Hyosung's technologies aim to use nature's energy to maintain a sustainable environment and prevent further damage to the planet. Combining Hyosung's technological DNA with perseverance, Hyosung aspires to build a better world powered by clean energy. Hyosung is committed to continuing research and development to ensure that generations in the future will enjoy a cleaner, safer world powered by clean energy.

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2023.06.11

Modern People’s Leisure: Hobbies

As the importance of work-life balance grows, and the implementation of a 52-hour workweek takes effect, the number of people investing in hobbies and self-improvement has steadily increased. People enjoy leisure activities, from reading and watching movies to exercising, playing musical instruments, and taking various hobby classes. After the COVID-19 pandemic, people resumed activities they had put on hold. A recent survey revealed that more than 75% of respondents engage in self-development activities regularly. The most popular investment areas are sports and fitness, such as gym workouts, hiking, fishing, and golf, followed by language learning, financial management, culinary exploration, cultural activities, computer skills, music, photography, and fashion. Hobby Economy: Hobby Enthusiasts As the number of people engaging in hobbies grows, attitudes toward leisure activities have significantly changed. In the past, many people enjoyed common hobbies like listening music, reading, and watching movies. However, nowadays, people are exploring in a wide range of hobbies and leisure activities. They are indulging in these activities and investing in enhancing their hobby experiences, willingly spending money on lessons, clubs, and online or offline classes. In pursuit of enjoyment, some have begun leveraging their hobbies for financial gain or supplemental income, while others aim to enhance their skills for future retirement plans. To fully immerse themselves in their hobbies, enthusiasts willingly invest in classes, participate in clubs or gatherings, and purchase high-end equipment giving rise to what is known as the "hobby economy." This economic aspect goes beyond mere enjoyment of hobbies, as individuals find ways to generate income through various means. For instance, they may sell knitted items, create and sell artwork for emoticons or daily cartoons, or monetize hobby-related content by uploading it to social media platforms. By exploring these divers avenues, hobbies have evolved into more than just source of enjoyment, now providing individuals with a path toward economic independence. Hyosung's Technology in Your Leisure Activities Hyosung's technological expertise extends to various hobbies modern people enjoy. One of the most beloved hobbies today is fitness. Whether engaging in leisure activities like camping, hiking, fishing, and surfing or participating in exercise routines such as gym workouts, Pilates, and yoga, Hyosung's technology is embedded in outdoor and athleisure wear. Specifically, Hyosung TNC’s CREORA® Spandex, which holds the highest global market share and boasts world-class quality, is incorporated into these garments. Furthermore, Hyosung has succeeded in developing regen Bio-based Spandex, a biofiber made from environmentally friendly raw materials from corn. As well as outdoor hobbies, Hyosung’s technology is used at home as well. YouTube, various dramas and movies, and even a shows available on OTT platforms all require devices to access. TAC film from Hyosung is essential for the displays of smartphones, tablets, and TVs that display these visual contents. Hyosung Chemical makes it possible to produce TAC film domestically, a crucial material for displays that filters light and protects the polarizing plate. In addition to sports activities, financial management is another area of great interest for people these days. As the importance of work-life balance grows, more people are pursuing economic freedom and a lifestyle not constrained by leisure time. It is becoming more common for young people to invest in various fields, and one of the hottest trends in financial management is non-fungible tokens (NFTs). High-priced art investments were once considered exclusive to the wealthy, but the landscape of art investing has changed. Nowadays, group purchase of artwork and investment in art-based NFTs have emerged as accessible means of financial management. Hyosung is at the forefront of this trend, offering a platform that facilitates NFT transactions. Through its subsidiary MetaGalaxia, Hyosung ensures fair compensation for content copyright holders while providing buyers with opportunities to access divers items and investment prospects across various fields items. The COVID-19 pandemic has transformed attitudes towards hobbies, with Generation Z becoming the primary consumer group. Consumption patterns have evolved, as well as the way people approach hobbies. In today's market, consumers prefer spending money on items that align with their values instead of mainstream products. It is important for them to invest in their passions and fully devote themselves to them. Hobbies are no longer considered a luxury, giving rise to a new trend where people not only consume their hobbies but also generate income from them. Despite the rapidly changing landscape of hobbies and consumption trends, one constant remains: Hyosung's technological prowess. One constant amidst rapidly changing trends in hobbies and consumption is Hyosung's technological prowess, which permeates various aspects of leisure activities. This technology enables us to enjoy our hobbies more freely and immerse ourselves in our leisure activities, whether it’s through active wear, NFT platforms, Sevit Island, or display devices. Despite persistent challenges such as global recession, war, pandemics, and inflation, Hyosung's technology provides people with the opportunity to pursue their unique personalities and seek happiness. Hyosung's technological prowess will continue to work diligently today, tomorrow, and beyond in supporting this pursuit.

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2023.06.10

Trends and the Future of Pop-Up Store

A growing number of consumers discover and explore pop-up or flagship stores through social media, especially for brands that are expanding or already have a significant presence. A pop-up and flagship store have become the most popular way for brands to showcase themselves. In particular, pop-ups have caught the attention of Generation Z, who expect distinctive elements, exceptional experiences, visually appealing content and enjoyable interactions. A pop-up store refers to a temporary retail space that operates for a short duration, much like a 'pop-up' window that appears and disappears from an internet webpage. Unlike a regular store that consistently sells products or services in a fixed location, a pop-up store is only open for a brief period, often used to establish a brand's identity with customers and promote it, especially during the launch phase of a new brand or product. On the other hand, a flagship store serves as the ultimate representation of a brand. Just as a flagship leads a fleet of ships with its command center, a flagship store leads the brand's identity and sets the standard for the rest of the retail outlets. It exemplifies the brand's personality and image through carefully crafted interiors and experiential spaces, perfectly aligned with the brand's identity. The Z Generation's Fascination with Pop-Up Stores South Korea, a global internet powerhouse, has a highly active online distribution system. Combined with fast delivery services, this has led to significant changes in the distribution network, weakening traditional retail structures. Retailers have been closing their stores in droves, from small offline shops to large corporations, including department stores and franchises. The prolonged social distancing due to COVID-19 has further accelerated the decline of traditional retail structures, resulting in a noticeable increase in vacant stores. However, pop-up stores remain popular and are increasingly used by various brands as active retail establishments for online and offline marketing. Originally conceived as a means for new brands or products to gauge customer responses and establish brand identities, pop-up stores have evolved into experiential venues and playgrounds for the Z generation, rapidly proliferating. For the Z generation, who share their favorite locations on social media, trendy pop-up stores have become spaces where unique interiors, photo zones, experiences, and attractions converge, elevating their appeal as "Instagrammable" destinations. Nowadays, department stores and shopping malls have started designating specific areas for pop-up stores, recognizing their popularity. Even convenience stores and supermarkets have joined the trend of pop-up marketing. Brands from various fields, including fashion, beauty, food and beverage, gaming, and furniture, now operate pop-up stores. From the US to the Metaverse: The Evolution of Pop-up Stores Pop-up stores were born in the early 2000s when Target, a prominent American discount retailer, opened a temporary storefront after being unable to secure a permanent location. In Korea, this concept began modestly, with products sold atop makeshift stands with minimal interior decor, evoking the humble and sparse feel of a discount stand. KUHO, under the aegis of Cheil Industries, unveiled the first pop-up store in Korea in 2009, sparking a trend that has since proliferated into the phenomenon we see today. As temporary showcases for new products, pop-up stores have evolved into multifaceted cultural spaces and playgrounds for the Z generation. They enhance brand awareness and provide unique experiences. Many sectors operate pop-up stores today, including groceries, furniture, information technology (IT), convenience stores, fashion, beauty, finance, and gaming. The popularity of these stores has been further enhanced by the emergence of pop-up stores associated with K-POP celebrities like BTS, New Jeans, and TWICE. The rise of metaverse pop-up stores is another example of innovation replicating their real-world counterparts or existing only in the metaverse. The popular metaverse game ZEPETO offers pop-up stores comparable to offline stores in reach. Hyosung’s Various Pop-up Stores Hyosung has been a forerunner in deploying various pop-up stores across its diverse business segments and plans to continue this trend in both online and offline domains. In addition to the MUJI collaboration, Hyosung organized the eco-friendly 'Filter' store. The MUJI pop-up store, which debuted on April 15th at Lotte World Mall, showcased 'Regen Sneakers,' a product of collaboration between Hyosung TNC, MUJI, and LAR. The limited-edition eco-friendly 'Regen Sneakers,' developed by Hyosung TNC, an eco-friendly textile producer, MUJI, a proponent of an eco-friendly lifestyle, and LAR, an eco-friendly shoe manufacturer, were produced in only 1000 pairs. These sneakers were exclusively created for the pop-up store and are available for sale there. Another remarkable pop-up store organized by Hyosung took place in Jeju. The Filter, a pop-up store and eco-friendly exhibition held at the Iho Tewoo Beach in Jeju in collaboration with Jeju Special Self-Governing Province and Jeju Tourism Organization, with Hyosung TNC. The store featured various attractions, including a photo zone adorned with a large backdrop of Regen Jeju, an eco-friendly fiber developed by Hyosung TNC. Additionally, the pop-up space offered bags crafted from recycled materials. The showcased bags, made from clothes donated by NIKE and Hyosung's Regen, received a positive response. After that, Hyosung Advanced Materials organized an eco-friendly art contest and a pop-up store called 'HYOSUNG creative.lab'. This unique pop-up store showcased the winning works that best represented the core technologies and products, and eco-friendly vision of Hyosung Advanced Materials. It also featured collaboration with fashion brands, displaying and selling clothing, bags, and Hyosung brand merchandise. To enhance the overall experience, Hyosung Advanced Materials offered live DJing and cafe services. Combining the location's advantages with the eco-friendly mega-trend, Hyosung Advanced Materials successfully introduced itself to trend-sensitive Z generation at the MUSINSA Terrace in Seongsu-dong. At five of the Hyundai Department Store's locations, HYOSUNG creative.lab had the opportunity to collaborate and organize pop-up stores. It started at Hyundai Department Store Mokdong, continued to Cheonho, D-Cube City, Jungdong, and concluded at Hyundai Daegu. A theme of the pop-up stores, jointly presented by Hyosung Advanced Materials and Hyundai Department Store, was "Discover New Safety and Comfort through Future Materials. There were 48 art contest winners on display at the Seongsu pop-up store on Musinsa Terrace as well as fashion collaborations between Kang Hyuk and Hyosung Advanced Materials as part of the exhibition. In addition to upcycled aramid fire suits from the eco-friendly brand 119REO, the exhibition featured modernized versions of Hyosung Advanced Materials' seat belts and carpets. Hyosung Advanced Materials also participated in OOPSEOUL, an online and offline visual art festival organized by Axoo, a global visual artist platform. At OOPSEOUL, Hyosung Advanced Materials hosted an inflatable art exhibition and an exhibition on future materials, and based on the enjoyment of visual art, Hyosung Advanced Materials aimed to visually showcase, tell stories, and build empathy with the public about Hyosung Advanced Materials' future materials. Hyosung is committed to organizing various pop-up stores in the future, swiftly and accurately embracing trends, and fostering quick communication and intimacy with customers through diverse methods and venues. Just as Hyosung has already introduced a digital showroom for the Metaverse Hyosung Group, they plan to operate pop-up stores wherever they can engage with customers, without distinguishing between online and offline spaces. Hyosung strive to create more meaningful and trendy pop-up experiences. Pop-up stores initially served as a marketing tool for new brands and products, enabling market research and demand analysis during product launches. However, contemporary pop-up stores have evolved into cultural hubs that allow customers to experience the values and identity a brand represents rather than merely promoting a brand or product. Pop-up stores, transcending virtual and physical realms, have begun to shape new distribution structures and drive trends and culture while continuously evolving and growing. Hyosung operates pop-up stores that offer opportunities to experience the eco-friendly lifestyle they advocate by using eco-friendly textiles for photo zones, selling upcycled bags, and showcasing sustainable footwear. As social distancing measures end and everyday life resumes, returning pop-up stores will remain popular. Hyosung will create opportunities to meet customers in various ways, reflecting the pop-up store trend and sharing the eco-friendly values they pursue with their clientele.

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2023.06.09

Recent Consumption Trends and Hyosung

All companies strive to cater to the interests and needs of their target customers, as well as stay up-to-date with the latest consumption trends. No matter how excellent the product or service may be, if it does not align with current consumer trends and fails to capture the attention of customers, it is difficult to succeed in the market. For this reason, all companies, regardless of size from small businesses to large corporations, are paying close attention to the dynamic consumer trends to capture the hearts of consumers. Several research agencies analyze and announce consumption trends every year. Of course, Hyosung is not an exception. As a B2B company with a focus on corporate customers more than the general public, Hyosung does not frequently release new products as we require innovative technology. However, even for the innovative technology that Hyosung aims to develop and the products targeting corporations, we ultimately need to reflect consumer demands. Therefore, as a B2B company, Hyosung also needs to understand the latest consumption trends of consumers. Standing at the center of sustainability, eco-friendliness, and global consumption trends Sustainability and eco-friendliness are the main keywords of the global consumption trend that has persisted in recent years. As one of the solutions to mitigate global climate change, consumers are increasingly seeking products and services that are sustainable and environmentally friendly. Sustainable and eco-friendly consumption is not difficult. Carrying a personal tumbler or using refill shops is one of the easiest and most sustainable ways to reduce the use of disposable items and plastics. Another way is to use recycled products based on Post-consumer Recycled (recycling of waste materials used and discarded by consumers) or Pre-consumer Recycled (recycling of industrial waste materials) methods, depending on the recycled materials and processes. Additionally, buying second hand items instead of new ones, or utilizing rental and sharing services to actively promote recycling and reduce waste disposal can also be sustainable and eco-friendly consumption practices that contribute to a circular economy. Shifts in consumer awareness towards sustainable consumption. According to PricewaterhouseCoopers (PwC), one of the world's top four accounting firms, only 35% of respondents in the Global Consumer Insights survey in 2019, prior to COVID-19 impacting our lives, indicated that they opt for sustainable products as a means to safeguard the environment, while 37% reported their experience of actively seeking environmentally friendly packaging. However, a joint study conducted in 2021 by Visual GPS, a creative research platform, and market research company YouGov, revealed that there has been a change in consumer behavior during the COVID-19 pandemic. 81% of respondents hope that companies consider the environment in their advertising and communication, and 69% said they are taking all measures to minimize their carbon footprint. According to Mintel's "Global Consumer Trends Report 2023," a market research agency, consumers have become aware of the interconnectedness of the world due to recent events, and are increasingly concerned about the future and the environment that will be affected by their daily choices and habits. Mintel also predicted that factors such as sustainability will play an important role in consumers' value judgments. Hyosung's sustainable and eco-friendly business for promoting consumers' green lifestyles However, sustainability and eco-friendliness are not new to Hyosung. As a manufacturing-based company that takes environmental issues such as climate change, environmental pollution, and overflowing waste seriously, Hyosung has long been preparing and conducting environmentally friendly and sustainable businesses to address pollution and prepare for climate change. The first step that environmentally conscious consumers can take towards sustainable consumption is to purchase eco-friendly products. Consumers tend to buy the most eco-friendly products that are reusable, such as tumblers and stainless-steel straws, and prefer products that are biodegradable, such as biodegradable plastic or paper packaging. They also show a high interest in upcycling products that use environmentally friendly materials or discarded products to reproduce. By consuming upcycling products, consumers not only reduce waste that pollutes the environment but also contribute to protecting the environment. In 2008, Hyosung TNC developed and commercialized regen® Polyester, the first recycled polyester fiber in Korea made from discarded PET bottles. Since then, Hyosung TNC has introduced the regen lineup, which includes not only polyester but also nylon, spandex, and various functional fibers. Clothing and fashion items made from regen's recycled fibers are not only sold by global fashion brands and functional clothing brands but also chosen by consumers who seek both environmental protection and fashion. Hyosung TNC produces yarns by utilizing waste products that consumers have used and discarded. "regen Polyester" is a yarn made from 100% discarded PET bottles, which is the first of its kind in Korea. The collected PET bottles are washed, crushed into flake form, melted again, and transformed into chips the size of rice grains, which are then used to reproduce yarn for clothing. By using regen Polyester, the amount of carbon dioxide emissions can be reduced by approximately 40% to 50% compared to regular yarn. Furthermore, Hyosung TNC has developed the world's first recycled fiber, "regen Ocean Nylon," by utilizing discarded fishing nets from the ocean. According to LCA (Life Cycle Assessment) measurements, regen Ocean Nylon can reduce carbon dioxide emissions by 73% compared to conventional nylon, reduce fossil fuel consumption by 75.7%, and reduce water consumption by a massive 98.6%. Moreover, after conducting extensive research and development, Hyosung TNC has successfully commercialized "regen Bio-Based," the world's first yarn made from bio materials extracted from corn. regen Bio-Based has been recognized for its use of eco-friendly raw materials, its harmlessness to the human body, and its environmentally friendly production process through ESG management, and has obtained the "Eco Product Mark." When applied to products, this yarn can reduce water consumption by 39% and carbon dioxide emissions by 23% compared to conventional spandex. Hyosung has created an environmentally friendly yarn by recycling discarded waste products or using synthetic fibers made from natural materials, making it an ideal choice for customers who prioritize sustainable consumption. Prepared Hyosung, Prepared Future Since 2012, Hyosung has been publishing sustainability reports and is committed to playing a role as a global player for the environment by improving the lives of all humanity, not just the success of its business. Hyosung's various eco-friendly businesses have been made possible thanks to its accumulated technological capabilities and efforts toward a better future. Hyosung's unique technological DNA and continuous efforts to create a better living environment for tomorrow are embedded in the global trend of emphasizing sustainability. Hyosung's commitment to sustainability and eco-friendliness is clearly apparent and recognizable to consumers who prioritize eco-friendly and sustainable consumption.

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2023.06.08

Hyosung TNC's Endeavors in Reversing the Environmental Doomsday Clock

As environmental destruction worsens, the question arises: for how long can humanity survive? By measuring global environmental degradation, the Environmental Doomsday Clock can provide insight into this sense of crisis. Since the Rio Environmental Conference in 1992, the Asahi Glass Foundation of Japan has conducted an annual survey, seeking insights from environmental experts across 90+ countries, including representatives from governments, NGOs, academia, and corporations. This survey’s results are represented on a scale ranging from 0 to 12, with lower numbers indicating a relatively calm state and higher numbers reflecting increasing levels of anxiety. It provides an overview of our collective plight. The Korean Environmental Doomsday Clock stood at 9:28 in 2022, signaling that the country's environmental destruction was reaching a dangerous point. However, the greater concern lies in that, even at that moment, the second hand of the clock continued to move. How does Hyosung TNC plan to reset the Environmental Doomsday Clock? Hyosung TNC aims to introduce a fresh ECO-LIFESTYLE approach, encompassing sustainable ESG management, environmental and social responsibility, and effective governance. In addition, the company develops sustainable materials and fabrics to minimize our daily carbon footprint. Let’s take a closer look at Hyosung TNC's sustainable lifestyle proposal to gauge its potential impact on the Environmental Doomsday Clock. Hyosung TNC's Sustainable ESG Management Practice for the Future of the Next Generation All companies are responsible for reducing greenhouse gas emissions in the face of the climate crisis. Hyosung TNC recognizes this responsibility and actively strives to fulfill it. Hyosung TNC factories transition to low-carbon energy sources to minimize greenhouse gas emissions. The company extracts renewable energy by from nearby municipal waste incinerators and wastewater treatment plants by utilizing heat and biogas. In particular, the Gumi plant reduced emissions with cleaner alternatives like LNG and LPG. Through a gradual increase in the adoption of LNG and LPG instead of high-emission B-C oil. With the gradual adoption of LNG and LPG, B-C oil has been completely phased out as of 2019. To further increase the share of sustainable energy within our operations, we are exploring wind and solar power, among other renewable options. Hyosung TNC also implements an annual environmental investment plan for each plant, replacing equipment with high-efficiency alternatives, contributing to energy conservation and environmental stewardship. The Daegu Plant has actively participated in Korea Industrial Complex Corporation’s 'Seongseo Industrial Complex Smart Energy Platform Establishment Project' since 2020. As part of this project, the plant installed 20 measuring instruments in a power facility with a large rated capacity and established a factory energy management system. EcoMaterial for the Next Generation, an Eco-friendly Yarn Brand for Carbon Reduction: regen Hyosung TNC's utmost commitment to sustainable societal development lies in the promotion of environmentally friendly clothing materials. Hyosung TNC has recently revitalized the eco-friendly yarn brand 'regen' for carbon reduction based on our sustainable material technology. The refreshed logo of regen now incorporates the vision and mindfulness of Hyosung, reflecting our commitment to environmental considerations. The circular shape within the regen logo, aptly named "ECO-EYE," represents "eyes looking at the earth," symbolizing the core principles of the circular economy. Hyosung TNC has been actively expanding the range of environmentally friendly yarns as part of our efforts to reduce carbon emissions. This initiative began in 2008 with the launch of regen polyester, the first in Korea to be made from recycled plastic bottles. By utilizing natural materials such as corn, discarded plastic bottles, and fishing nets, Hyosung TNC has developed a portfolio of low-carbon, eco-friendly yarn products that contribute to the establishing a circular economy in the domestic apparel industry. Resources Abandoned on the Earth, Returns Back to Us as An Eco-friendly Material: regen In 2007, Hyosung TNC pioneered the production of regen polyester yarn in Korea using recycled PET bottles when environmental awareness was relatively low. Furthermore, we achieved a remarkable feat by becoming the first company in the world to commercialize nylon yarn extracted from discarded fishing nets. Starting in 2020, Hyosung TNC began developing a product portfolio of low-carbon yarns based on the principles of the circular economy for the domestic apparel industry. As part of its commitment to achieving this vision, Hyosung TNC partnered with leading organizations across the industrial value chain, including the Ministry of Environment of the Republic of Korea, POSCO, Yeosu Gwangyang Port Authority, Jeju, Seoul, and others. Our collaborations created regen Jeju Polyester and regen Seoul Polyester, derived from discarded PET bottles originating from Jeju and Seoul respectively. Further, Hyosung TNC collaborated with Busan and eco-friendly startup NETSPA, to produce regen Ocean Nylon, which recycles discarded fishing nets. By taking this initiative, Hyosung TNC is contributing to carbon reduction and addressing greenhouse gas emissions. Hyosung TNC intends to positively impact the global textile market by expanding its use of eco-friendly yarns beyond Korea. Additionally to recycling discarded materials, Hyosung TNC has developed "regen Bio-based" that use corn, a natural raw material, in place of fossil-based materials. For the first time worldwide, Hyosung TNC has processed and commercialized corn as a raw material for high-performance textile. Comparing regen Bio-based spandex to conventional spandex products, life cycle assessments (LCA) revealed a 39% reduction in water usage and a 23% reduction in carbon emissions. This reduction is equals the carbon emissions absorbed by 378 pine trees per year. Hyosung TNC incorporates additional functionalities such as cooling, heating, high strength, and elasticity to produce a wide range of low-carbon fiber materials in this innovative recycled fiber regeneration technology. A Society that Works Together, A Company that Grows Together Hyosung TNC considers safety to be the utmost priority at the workplace. We are committed to achieving ZERO accidents related to safety and health through our environmental safety VISION of establishing accident-free work environments. As part of our ongoing commitment to safety, we promote a safety culture and provide a safe and enjoyable working environment for all employees, including those from partner companies, by preventing accidents and fostering a strong safety culture. Our commitment is reflected in the active engagement of workers in the field to identify and prioritize necessary programs. By valuing their input, we ensure our initiatives align with their needs. For instance, we have implemented anti-smoking and obesity programs in collaboration with local public health centers to promote the health and well-being of our employees. Additionally, we have implemented hearing preservation programs for employees who work in noisy environments to protect their hearing. In addition to safety measures, Hyosung TNC offers support in a variety of domains to small venture partners. By leveraging our extensive global networks and textile technology expertise, we offer our partners opportunities to participate in international textile exhibitions, enhancing their global presence. Moreover, Hyosung TNC actively supports SME's whose overseas exhibitions have been disrupted by the pandemic by facilitating online video meetings with overseas brands as part of our shared growth policy focused on increasing the competitiveness of our partners for mutual growth. Hyosung TNC embraces the philosophy that "Teamwork makes the dream work." As a socially responsible company, we are deeply committed to this philosophy. In this regard, we prioritize implementing our unique ESG management approach, which enhances the sustainability of our society. Hyosung's Response for the Future Generations, Sustainable RE:GEN ECO-LIFESTYLE Through our ESG brand RE:GEN, Hyosung Group strives to create distinctive ESG values. Since Hyosung Group recognizes that effective ESG management requires more than just good intentions, we actively seek partners who share our commitment and collaborate to build a sustainable world based on substantial business practices. Moreover, Hyosung Group aims to lead an eco-friendly lifestyle for future generations by developing environmentally friendly technologies, expanding the brand narrative, and serving as a growth model that fosters a new ESG ecosystem. Hyosung TNC remains dedicated to promoting a sustainable and eco-friendly lifestyle centered around the 'regen' brand of environmentally conscious yarns. Aligned with the vision of Hyosung Group's RE:GEN initiative, which aims to address the needs of future generations, Hyosung TNC continuously strives to contribute towards enabling individuals to embrace a sustainable way of life. Hyosung TNC's new slogan, "Innovation for a Better Lifestyle and Tomorrow, encapsulates these endeavors and aspirations. Hyosung TNC embodies the value of 'together' by leading an environmentally friendly lifestyle that benefits all generations. As a leading company in low-carbon yarn manufacturing, we're committed to helping you achieve a sustainable lifestyle.