Hyosung affiliates donates 2.5 million Yuan to help China's earthquake victims

- Local affiliates make donations, staffers stage fundraising campaigns

Hyosung's affiliates in China and their staff donated 2.5 million Yuan about 380 million won) to the Chinese Red Cross to support efforts to recover vitim the massive earthquake that hit Sichuan Province. The amount included 2 million Yuan donated by three local affiliates, namely Nantong, Jiaxing, Guangdong, and 500,000 Yuan donated by other affiliates and raised voluntarily by staff members. The affiliates also plan to examine the damage local staffers' families suffered from the disaster and provide some funds to help them recover from the damage.

Commenting on the donation, Cho Hyun-taek, President of Hyosung Jiaxing Co., Ltd., said, "We deliver our sincere condolences to the Chinese people who suffered such massive damage," adding, "Hyosung will do its best in supporting recovery efforts so that they can overcome the hardships at an early date." Hyosung operates 13 manufacturing plants that produce petrochemical textile, transformers, tire cords, and automatic teller machines, as well as five trade offices engaged in export of steel products and chemical materials, in China.