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Get a closer >Hyosung TNC Hyosung TNC Shoots Up to a Leading Business in Global ESG Ratings 2023.11.10 This year, Hyosung TNC has seen its status rise to the position of a leading business in global ESG management, garnering a grade of “AA” or two notches higher than that of last year in Morgan Stanley Capital International (MSCI)’s ESG Ratings. MSCI ESG Ratings is a leading ESG (environment, social, and governance structure) index that major global businesses refer to. Since 1999, MSCI provides listed businesses all over the world with a seven-stage rating (ranging from CCC to AAA) based on its evaluation of their ESG-related core issues. Hyosung TNC adopted a strategy for carbon reduction that set an example for the others in the industry to follow and garnered “BB” and “BBB” ratings in 2019 and 2020, respectively. It garnered an “AA” rating in 2022, securing its status as a leading one among global raw material chemical businesses. It is particularly noteworthy that the Company garnered the highest score in the following four sectors: △ Carbon emission, △ Toxic emission & Waste, △ Water stress, and △ Chemical safety. “We at Hyosung TNC have engaged in an array of activities to cope with climate change and carbon neutrality. We aim to join the ranks of world-class chemical businesses by realizing the goal of sustainable management in the ESG sector,” Hyosung TNC President Kim Chi-Hyung said. In 2023, Hyosung TNC garnered a grade of “A” even in the KCGS (Korea Corporate Governance Service)’s evaluation as in the two preceding years. In the environment sector, it garnered an “A+” grade, one notch higher than the preceding year, in recognition of its effort made through ESG campaigns and in the recycling/bio textile sectors. Hyosung TNC has engaged in the “Regen recycling” campaign—wherein its employees are made to collect PET bottles—for the past three years in a bid to put sustainable management into practice and seek accompanied growth with its subcontractors. It provided a box for the collection of PET bottles in its factories in Seoul, Ulsan, Gumi, and Daegu, presenting those taking part in the campaign with bags made by domestic eco-friendly startup brands applying the recycled fabric Regen. -
Get a closer >Hyosung Group Hyosung Remains an Exemplary Business Providing Support for Culture/Arts for 9 Years 2023.11.10 Hyosung was re-certified as an exemplary business providing support for culture/arts at a ceremony held at Lotte World Tower SKY31 in Seoul on November 9. Said certification is provided to organizations and businesses engaging in exemplary acts under the Act on the Revitalization of Support for Culture and Arts through a review conducted every three years. Hyosung has been certified thrice since 2015. Through the re-certification made this year, Hyosung will remain an exemplary business until 2026. Hyosung is one of the six businesses whose certification was extended until this year from the initial certification in 2015. Hyosung Chairman CHO Hyun-joon has expressed a desire to help build a better society where more people can access culture/arts more easily through the continued provision of support. Hyosung set its support for culture/arts as one of the three social contribution areas it engages in. The areas where it provides support include barrier-free versions of films (since 2017) and creative activities of artists at the Seoul Arts Creation Center for the Disabled (since 2018). The group received the Culture Award from the Seoul Metropolitan Government last October in recognition of its accomplishments in said areas. -
Get a closer >Hyosung Group Hyosung Plants Seagrass to Reduce Carbon in the Sea 2023.11.09 Hyosung carried out on Nov. 8 an activity for the collection/ transplantation of seagrasses at Dapo Beach, Geoje, Gyeongnam and cleaning of the beach as part of its ESG management-related activities including conservation of marine ecosystem and carbon neutrality, etc. As part of said event, 30-plus employees of Hyosung Corporation as Hyosung’s holding company and four leading affiliates (Hyosung TNC, Hyosung Advanced Materials, Hyosung Heavy Industries, Hyosung Chemical) as well as officials of the Korea Fisheries Resources Agency (FIRA) and the City of Geoje planted 10,000 seagrasses and renewed their resolve for the protection of the marine ecosystem. Seagrass is an ocean plant protected under the Act on the Investigation of and Inquiry into Marine Accidents. Seagrass is known as blue carbon, which refers to carbon dioxide absorbed from the atmosphere and stored in the ocean, and to have the effect of reducing carbon by 4.07 tons a year/ha. Hyosung has become the first private business to take part in the preservation and management of seagrass groves. At the end of last year, Hyosung donated a sum to be spent for Rural Area Fund for Win-Win Cooperation, specifically for the seagrass grove management project including △ monitoring of the status of seagrass distribution and their habitat environment and △ transplantation of seagrasses in areas where they can grow better. “We are happy to have been able to take part in an activity designed to preserve the marine ecosystem. We wish to see Hyosung expand its ESG management as a global player,” said the Hyosung employees who attended the event. -
Get a closer >Hyosung Group Hyosung Provides Support for the Production of Barrier-Free Films 2023.11.08 On Nov. 7, Hyosung donated 20 million won to the Barrier-Free Film Committee for the production of barrier-free films at the opening ceremony of the 13th Seoul Barrier-Free Film Festival held at the Cinema Park of the Korean Film Archive (KOFA) in Mapo-gu, Seoul. This year, Hyosung provided support for the production of barrier-free versions of School Trip (ordinary film, 1968) and Taeil (animation, 2021), which are restorations of those made years ago. A barrier-free film refers to one that gives explanation of the scenes with voice to help the disabled appreciate them without the difficulty associated with their disability and provides information on the dialogs, sounds, and music through barrier-free subtitles. Since 2017 when it helped produce a barrier-free version of the film Billy Eliot, Hyosung has provided support for the Barrier-Free Film Committee for seven years. The number of barrier-free versions—made with support from Hyosung—comes to 13 including Us, A Sibling’s Summer Night, Midnight Diner, etc. Production of such films has received not only financial support from Hyosung but its employees’ voluntary work as well. This year, two Hyosung employees assumed the role of recording of the voices for the visually disabled in the films School Trip and Taeil. The visually disabled who are interested can get pre-information on these films such as the personality of those appearing in them and their outward appearances. Hyosung provides support for a variety of art programs involving disabled artists including support for creative works done by artists at the Seoul Arts Creation Center for the Disabled and Onnuri Sarang Chamber Orchestra composed of young people suffering from development disorders as part of the effort to build a barrier-free society. -
Get a closer >Hyosung Group Hyosung dispatches medical volunteers to Vietnam 2023.11.01 Hyosung dispatched Miso Wonjeongdae (Smile Team), a team of volunteers engaging in medical service overseas, to Xuan Dong Village, Cam My District, Dong Nai Province, Vietnam to carry out a mission from Oct. 29 to Nov. 4 as part of its global social contribution program. Said team, composed of a total of 74 volunteers including those from Hyosung, is carrying out medical services including free medical checkup, childbirth education, etc. for 1,700-plus locals including elementary school pupils. The 22 volunteers from Korea University Anam Hospital are doctors specializing in pediatrics, rehabilitation medical treatment, dentistry, infectious diseases, obstetrics, family medicine, nurses, physical therapists, dental hygienists, pharmacists, etc. A total of 43 employees from Hyosung Vietnam assumed the role of interpreters and guides. They held a ceremony announcing the re-commencement of their medical service on Oct. 30. Those who attended the ceremony include: Hyosung Vietnam Head KIM Gyeonghwan; LEE Gihyeong from Korea University Anam Hospital; Mr. Nguyen Viet Thang and others from Dong Nai Province; Mr. Huynh Tan Thin from the Cam My District People’s Committee; Mr. Phan The Hung from the Xuan Dong Village People’s Committee, and members of the Smile Team. The ceremony was followed by an education session for the locals on pregnancy and childbirth. The content of the education included nutrients required by expecting mothers, genetic/physiological mechanism related to the birth of deformed children, cautions to be taken by expecting mothers, etc. On the afternoon of that day, volunteers specializing in internal medicine, obstetrics, and rehabilitation medical treatment carried out medical services at the People’s Committee Hall of Xuan Dong Village. Others engaged in the health checkup of 300 elementary schoolers in Xuan Dong Village including measurement of height, weight, and eyesight and TBI (Tooth Brush Instruction) and fluoride coating. Finally, those specializing in pediatrics checked the health status of elementary schoolers. Hyosung has been dispatching medical volunteers to Vietnam every year since 2011. The service was halted by COVID-19 for four years (2019-2022) before resuming this year. The number of locals in that country who have received the service comes to about 17,000. Hyosung Chairman CHO Hyun-joon said that the Company is ready to fulfill its social responsibility and provide substantial aid to those in need in Vietnam, where it maintains the largest presence in the world in terms of factories, as a member of the local community. Hyosung’s employees also donate part of their monthly pay to provide support for children from low-income families through the sisterly ties established with them. Likewise, Hyosung provides support for the expansion of a kindergarten in a remote area in Guang Nam Province, Vietnam as part of its social contribution activities.