Content content Hyosung Advanced Materials included in DJSI KOREA Hyosung Advanced Materials has been included in Dow Jones Sustainability Indices (DJSI) KOREA 2023.Said indices are global indicators for sustainable management announced annually by S&P Global Switzerland. The inclusion of a business in DJSI KOREA means that its capability for sustainable management in environmental, social, and governance criteria (E, S, and G) is recognized. In the DJSI KOREA 2023 evaluation, the Company’s activities for the following and their results were recognized: △ furthering the strength for coping with climate change; △ striving for sustainable growth through the development of eco-friendly products; △ strengthening its organization for sustainable management; △ making win-win efforts with subcontractors. “We are happy to have achieved the significant feat of being included in DJSI KOREA, which has been the result of our all-out ESG-related effort. We’ll continue to strive to fulfill our responsibility as a member of the community to build a better future and further our effort to create new values,” Hyosung Advanced Materials CEO Cho Yong-soo said. Hyosung Advanced Materials has also won the Gold Medal for three years in a row from EcoVadis—an institution specializing in the evaluation of global ESG supply network—as a business in the top 1% category among textile businesses and in the top 3% category among global businesses. Get a closer >
Content content the entire Hyosung group Hyosung TNC Hyosung Heavy Industries HYOSUNG GOODSPRINGS Chinhung International Hyosung Advanced Materials Hyosung Chemical Hyosung TNS Hyosung ITX Hyosung Information Systems Galaxia Moneytree Galaxia Electronics Galaxia Device etc. Get a closer > Hyosung Heavy Industries Co., Ltd The World’s First to Commercialize a ‘100% Hydrogen Engine Generator’ 2024.06.05 Hyosung Heavy Industries has succeeded in commercializing the world’s first ‘hydrogen engine generator’, a key product in the development of next-generation carbon-free power. □ A 1MW hydrogen engine generator operating in full scale at Hyosung Chemical Yongyeon Plant 2 in Ulsan. Hyosung Heavy Industries announced on the 9th that it has commenced full-scale operations of the 1MW hydrogen engine generator installed at Hyosung Chemical Yongyeon 2 Plant in Ulsan from mid-April. Hyosung Heavy Industries' hydrogen engine generator is an innovative product that can generate power only with 100% hydrogen. Although domestic and foreign companies have already developed ‘hydrogen co-firing generators’ that use other fuels such as natural gas and coal, Hyosung Heavy Industries is the world’s first to have commercialized a product that can generate power only with ‘100% hydrogen’. □ CO2 reduction of 7,000 tons per year compared to coal-fired power generation, increased with multiple plants being installed in parallel Hydrogen engine generators do not emit any carbons during power generation, making it highly effective in reducing carbon dioxide. With the operation of a 1MW hydrogen engine generator using 100% hydrogen as fuel compared to coal-fired power generation, it is possible to reduce carbon dioxide by 7,000 tons per year. Also, a configuration of multiple hydrogen engine generators in parallel significantly reduces carbon dioxide emissions contingent on the amount of power generation. □ Accelerating the ‘hydrogen combustion’ goal by 20 years ∙∙∙ Poised to contribute to domestic companies’ RE100 achievement Hyosung Heavy Industries' hydrogen engine generator is a milestone significant domestically for expedited the government's target of hydrogen combustion by 20 years until 2050. In terms of stability, it is the only domestic company to have passed the safety inspection of Korea Gas Safety Corporation and Korea Electrical Safety Corporation this year and obtained the permit for commercial operation. Given that the ultimate goal of the clean hydrogen power generation system that the government will launch in June this year is carbon reduction, hydrogen engine generators are highly anticipated to kickstart the clean hydrogen power generation market. In addition, the industry acclaims it for greatly enabling companies to build a sustainable manufacturing environment and achieve their RE100 goals in compliance with the Special Act on Distributed Energy Promotion , set to take effect this June. The reason is that hydrogen engines can be used as fuel without distinguishing between hydrogen and natural gas, and can be operated by adjusting the ratio of full-burn or co-firing hydrogen based on the price of clean hydrogen. □ “As a result of integrating all of Hyosung’s hydrogen technologies, we will take leadership in kickstarting the hydrogen economy.” CEO Tae-hee Woo of Hyosung Heavy Industries, said, “The success of commercializing hydrogen engine generators is attributed to Hyosung Heavy Industries’ consolidating the technology, prowess and know-how it has built up in the hydrogen industrial sector, including construction and operation of hydrogen charging stations and electric power equipment, as well we liquefied hydrogen plant construction.” He added, “We will proactively strive to take a leadership role in kickstarting the hydrogen economy by pioneering the hydrogen engine power generation market, with a commitment to contributing to companies’ establishment of a sustainable business environment, including power generation companies.” Meanwhile, in July of last year, Hyosung Heavy Industries signed a memorandum of agreement with INNIO Jenbacher, an Austrian gas engine specialist, for a hydrogen engine generator demonstration project, and has been kickstarting the field of hydrogen engine generator development. Get a closer > Hyosung Advanced Materials Acquired Eco-Friendly ‘FSC’ International Certification with Lyocell Tire Cord 2024.05.22 Hyosung Advanced Materials became the first in the tire cord industry to obtain FSC (Forest Stewardship Council®) certification, an international standard for eco-friendly materials, for Lyocell tire cord. Having been instituted to prevent production methods that damage forests and to ensure sustainable forest management, FSC certification is an eco-friendly international certification system for products made using forest resources (lumber). The FSC label attached to the product or packaging assures consumers that the forest resources used for it have been responsibly sourced. This certification pertains to Lyocell tire cord produced at the Vietnamese factory. Hyosung Advanced Materials commercialized Lyocell tire cord for the first time in the world in 2006. Lyocell tire cord can significantly reduce toxic substances, such as carbon disulfide and hydrogen sulfide, generated during the manufacturing process, and generate less waste water, making it possible to produce tire cord using an eco-friendly method compared to rayon. In addition, it is made from 100% biodegradable cellulose, an environment-friendly material extracted from lumber. CEO Yong-soo Cho of Hyosung Advanced Materials said, “With this certification, we have further demonstrated not only the top-notch quality but also the eco-friendly competitiveness of Lyocell tire cord,” and then added, “Hyosung Advanced Materials will keep expanding the supply of sustainable products by adopting an eco-friendly production structure and developing proprietary technology,” Meanwhile, Hyosung Advanced Materials has formed its three strategic directions for green management based on “Zero Emission, Zero Waste, and Zero Impact”, and is pursuing research and development activities accordingly. In the tire cord business, it has acquired the ISCC PLUS certification, an international standard for eco-friendly materials, for the first time in the world in this industry. In lockstep with global tire companies, it plans to convert all PET tire cords to eco-friendly materials by 2050. In the industrial yarn business, it has acquired GRS certification, an international eco-friendly certification, and in the carpet business, it is releasing more eco-friendly products in various business fields, such as supplying car mats using 'Bio-PET yarn' and applying them to the latest electric and hydrogen vehicles. Get a closer > Hyosung Group Vice Chairman Hyun-sang Cho Met with Cambodian Prime Minister Hun Manet 2024.05.19 Vice Chairman Hyun-sang Cho of Hyosung Group met with Cambodian Prime Minister Hun Manet, who visited S. Korea for the Korea-Cambodia summit, in Seoul on the 17th to discuss ways to expand cooperation in the future. During the visit, Vice Chairman Cho introduced Hyosung's global network and explained its lineup of the world-best products such as spandex and polyester tire cord, as well as successful investments in China and Vietnam. In a meeting with Prime Minister Hun Manet, Vice Chairman Cho commended, “Cambodia is a country with a favorable business environment and development potential. Given our proven success in China and Vietnam, we are seeking to expand our business into the Asian region, and also look to the Cambodian government for its growing interest and support.” Accordingly, the Prime Minister replied, “We are grateful for your interest in Cambodia, and share an interest in HS Hyosung, which embarks as a new business. We will actively welcome and support its expansion and investment in Cambodia.” Hyosung currently maintains business relationships with Cambodia by exporting tire reinforcement materials, polypropylene, and ATM. It is expected that its business scale will keep expanding in the future as foreign companies, including automobile and tire companies establish a stronger market presence in Cambodia. Meanwhile, Vice Chairman Cho was selected as the 'next generation Leaders of Korea-China-Japan' in 2005 and the World Economic Forum's 'Young Global Leaders' in 2007, and is actively involved as a future business leader representing the business community, currently serving as a director on the OECD’s (Organization for Economic Cooperation & Development) Business and Industry Advisory Committee and as the chairman of the Korea-Vietnam Economic Cooperation Committee. (End) Get a closer > Hyosung TNC Hyosung TNC Instituted Global Production System for ‘Diaper-Use Spandex’ 2024.05.14 Hyosung TNC's Creora, the world's No. 1 spandex fiber, is making preemptive investments to target the market for ‘diaper-use spandex. □ Expansion of ‘diaper-use spandex’ production machinery/facilities at the India & Türkiye factories Hyosung TNC announced on the 14th that it plans to establish a global local production system for diaper-use spandex by expanding machinery/facilities, including polymerization processes, at its spandex plants in India and Türkiye by February next year. The purpose of this investment is to enhance supply stability in response to the rapidly increasing demand for diaper-use spandex in the global markets of Europe, the Middle East, and Africa as well as India’s domestic market. Hyosung TNC plans to ramp up diaper-use spandex production by a total of 11,000 tons until 2026 by expanding the India and Türkiye-based production plants, which currently have an annual production capacity of 73,000 tons. □ Targeting the global market by expanding the production supply chain based in India & Türkiye With this investment, Hyosung TNC will expand its overall production capacity of diaper-use spandex, which had been producing diaper-use spandex at just a few plants, such as Gumi in Korea and Zhuhai and Jiaxing in China, to its newer plants in India and Türkiye. This move is prompted by the increased demand from global customers for establishing a stable supply chain in the local or nearby region as the supply chain has become unstable in the aftermath of the global pandemic and the Ukraine-Russia War. With this facility investment, Hyosung TNC is well poised to respond promptly by ramping up production and supply pace that caters to the market needs. In addition, the company plans to expand its market dominance by reducing direct production costs such as logistics costs and tariffs. □ CEO Chi-hyung Kim, “Diaper-use spandex will also lead the global market.” CEO Chi-hyung Kim of Hyosung TNC, said, “Creora has maintained its unrivaled global No. 1 position based on its global production network in S. Korea, China, India, Vietnam, Turkmenistan, and Brazil.” He added, “We will continue to lead the global market with a stable supply chain and optimized quality to meet rapidly increasing demand in the diaper spandex field.” Get a closer > Hyosung Group Created a Seagrass Marine Habitat to Deter Desertification to Mark Sea Arbor Day 2024.05.10 To mark ‘Sea Arbor Day’, Hyosung commenced environmental activities to restore the coastal marine ecosystem in the fishing village of Donggori, Sinji-myeon, Wando-gun, Jeollanam-do. A total of 60 executives and employees under Hyosung Group (i.e. Hyosung Co., Ltd., Hyosung TNC Co., Ltd., Hyosung Advanced Materials Co., Ltd., Hyosung Heavy Industries Co., Ltd., Hyosung Chemical Co., Ltd.), jointly with Namhae headquarters of Korea Fisheries Resources Agency (FIRA) in Wando-gun, and Dongori fishing village residents participated in directly transplanting 2,000 seagrass stems so as to create a marine habitat on the 9th. In addition, beach clean-up activities were undertaken by picking up trash discarded into the sea. Seagrass (Jalpi), which plays a major role as a spawning ground and habitat for many marine species, is a perennial seaweed strain recognized internationally as a blue carbon. On the 8th last month, Hyosung signed an MOU (business agreement) with the Namhae Headquarters of FIRA at the Wando-gun Office for the 'conservation of a sustainable marine ecosystem, including carbon neutrality', and teamed up to plant seaweed and seagrass covering an area of 1.59㎢ in the Dongori sea area so as to create a habitat for various marine life. Sea Arbor Day is marked every year on May 10 to deter desertification of the sea, climate change and pollution of the marine environment by planting seaweed/seagrass stems in the sea. Since 2013, S. Korea has been the first country worldwide to institute and celebrate a national day of its kind, with this year marking the 12th anniversary. Chairman Cho Hyun-joon said, “Hyosung will faithfully assume its corporate environmental responsibilities to preserve a sustainable marine ecosystem.” Meanwhile, starting in December 2022, Hyosung has been actively engaging in activities to protect the marine environment and propel national seagrass marine habitat cultivation as the first private sector company to do so. In May 2023, it signed an MOU with the Ministry of Oceans and Fisheries and the Korea Fisheries Resources Agency to expand blue carbon resources in marine ecosystem. Go to the front list Go to previous page 1 2 3 4 5 6 7 8 9 10 Go to the next page Go to the last list