Hyosung TNC and Hyosung Advanced Materials received a plaque of appreciation from the Korea Foundation for Cooperation of Large & Small Business, Rural Affairs at the ceremony held for presenting the Rural Area ESG Grand Prize on January 18. PARK Jongho (PL) of Hyosung Corporation and YU Yeongmin (PM) of Hyosung Advanced Materials also received a letter of commendation from the Minister of Oceans and Fisheries (MOF) and the Minister of Trade, Industry, and Energy, respectively, for having played a conspicuous role in the rural area win-win cooperation fund.

Each year, said foundation presents awards to businesses/institutions setting an example in activities for win-win cooperation with rural areas via ESG. The selection of Hyosung as prize winner this year is said to be a result of the efforts made through its diverse ESG activities including its annual contribution to the rural area win-win cooperation fund.

Hyosung engages in the project for the preservation of seagrass groves in cooperation with MOF and Korea Fisheries Resources Agency (FIRA) in a bid to reduce carbon in the sea. As a leading blue carbon absorbing carbon, seagrass groves are ocean-protecting organisms designated for preservation under the Conservation and Management of Marine Ecosystems Act.

Moreover, Hyosung TNC is pushing forward with the waste fishing net recycling project designed to make MIPAN regen ocean—which is nylon fiber—through the recycling of waste fishing net in cooperation with the City of Busan, Jeonnam-do, etc. It also leads others in resource recycling by recycling waste fishing net and PET bottles collected in/near Gwangyang Bay in cooperation with POSCO and Yeosu/Gwangyang Port Authority.

For its part, Hyosung Advanced Materials is working with the City of Jeonju and the National Institute of Ecology to restore Dysophylla yatabeana, which is an endangered plant species. It has also engaged in the work of getting rid of ecosystem-disturbing species and forming honey plant gardens using endangered wild plants on Yubu Island, Seocheon-gun, Chungnam-do. In addition, it has carried out work for the protection of wild goats, which are endangered species I-class, and houses in the rural areas by building fences around farms in Yangyang and Uljin, Gangwon-do.

Hyosung is also providing products made using eco-friendly materials, carbon-fiber agricultural dryers, and photovoltaic power generators to rural areas.