Hyosung, was credited for its preemptive greenhouse gas reduction and received a government award

Hyosung announced that the company received the Minister of Industry, Trade & Energy Award on the 29th at the ‘Climate WEEK 2016’ held at the COEX International Hotel, Seoul for its preemptive greenhouse gas reduction and outstanding response to the climate change.

‘Climate WEEK 2016’ is the annual international seminar organized by the Ministry of Industry, Trade & Energy and is the space where experts give lectures on and parties concerned discuss over climate change response. This year's seminar was held under the subject of ‘Tasks of Korean Industries to Respond to New Climate System’ in its eleventh year.

Hyosung has participated in the ‘Greenhouse Gas Reduction Registration Program of the Ministry of Industry, Trade & Energy’ since 2009 when the target Control System which was the first greenhouse gas reduction regulation was not introduced yet and has reduced 130 thousand ton through making use of outside waste heat, and has also done such voluntary reduction activities as recovery and recycle of SF6 gas (sulfur hexafluoride). As a result, Hyosung was credited for a total of 860 thousand ton early reduction.

Hyosung formed the exclusive organization for climate change response in 2012 to establish the internal control system and strictly complies with government policies as can be seen from the fact that it obeyed the governmental emission allowance every year from 2012 to 2015.

Also, Hyosung invested 12 billion won to install the greenhouse gas reduction facility and contributed to activation of Korean emission trading market by converting to and trading in Korea the 1.45 million ton emission allocated after registrating the CDM (Clean Development Mechanism) business to UN in June of 2011.

Hyosung's Strategic Headquarters Head (President) Cho Hyun-joon said, “Hyosung has strived long time for environment-friendly management even before the emission trading system was implemented in full scale. Hyosung is also taking the lead in developing environment-friendly technologies such as premium efficiency motors that reduce greenhouse gas emission, low temperature processed yarn or waste fishing net recycled yarn,” and “we will apply the recently developed productivity enhancing (energy saving) system making use of big data to all workplaces, domestic or overseas, to be able to respond actively to climate change at every workplace of the world including Korea”.

In the meantime, after receiving the minister award, Hyosung's managing director Kwon Tae-soo of the Strategic Headquarters gave a presentation on the state of Hyosung's emission trading system and suggested urgent tasks of industries for early settlement of domestic emission trading system.