Group News
Hyosung CEO Cho Hyeonsang had a one-on-one meeting with Luxembourg Prime Minister Xavier Bettel during his visit to Korea on July 2, 2018. The meeting was held at the request of Bettel. The Prime Minister of Luxembourg thanked Cho for Hyosung's contribution to the economic development of Luxembourg, and both parties agreed to strengthen cooperation in the future. Hyosung took over tire cord factories in Luxembourg in 2006 and 2010, producing fabric and steel cords since then. All the cords manufactured at the factories are exported to all over Europe.
The awarding ceremony for Employee of the Second Quarter of 2018 Award was held on July 27, 2018 at Hyosung's office building in Mapo. The awarding ceremony is held every quarter of the year to reward those employees with excellent quarterly performance. Employees from different areas including marketing, technology, research, and support are nominated for the award through strict screening, and winners each received a cash prize and a plaque of appreciation for their excellent services to the company.
On June 28, 2018, Hyosung and the Korea Hi-Tech Textile Research Institute signed MoU on the development of new textile materials. The two parties agreed to share technology for the development of textile with various functions and establishment of dyeing process conditions for the new textile materials. The hi-tech, environment-friendly facilities and experts at the Korea Hi-Tech Textile Research Institute are expected to be of practical help to the development of differentiated products.
Lee Jaemyeong, Team Leader at the Hyosung Technology Center, won the "Engineer of the First Half of 2018" award on July 18, 2018. He was recognized for the development of the world's first highly heat-resistant fabric as well as fabric with excellent low temperature setting and awarded for his contribution to improving national competitiveness through technological innovation.
The Heavy Industries Research Laboratory held a talkfest by inviting the President, Vice-President, General Manager of Research, and Center Head of KERI (Korea Electrotechnology Research Institute) on July 6, 2018, including a technical exchange meeting with the director and research staff of the Next-Generation T&S Laboratory of KEPCO on July 25, 2018. At the two events, participants from the three parties shared the current status of technology development and had meaningful discussions on the possible areas for cooperation. At the talkfest and exchange meeting, the participating parties were able to confirm the actual areas of cooperation and promised to continue technical cooperation through future agreements.
Hyosung TNC participated in "Mode City and Paris Interfiliere,” the largest trade show for swimwear in the world, on July 7, 2018. The show was participated in by more than 680 companies from 28 countries that have introduced a wide range of highly functional new materials suitable for crossover fashion as one of the recent fashion trends. Hyosung TNC plans to become a global leader in the textile industry by developing various new materials suitable for the latest lifestyle trends.
Hyosung TNC participated in the Outdoor Retailer Summer Market held in Colorado, USA for four days beginning July 23, 2018. At the market, which is one of the three largest outdoor sports expositions and conferences in the world, Hyosung introduced its highly functional fabric suitable for summer outdoor activities. Hyosung TNC plans to make extra effort to tap into the US market where active apparel is booming.
Hyosung TNC participated in the "Denim & Jeans Vietnam Show" held on July 27 and 28, 2018 in Ho Chi Minh, Vietnam. The company introduced its premium spandex for denim and jeans at the show, the largest exhibition of denim and jeans in Southeast Asia. Hyosung TNC earned favorable reviews for identifying the market trend for elasticity and beauty.
Hyosung TNC recently developed a bag made of environment-friendly fabric with a Korean startup. Made of recycled polyester from PET bottles recycled in 2008, the bag became popular among consumers by being environment-friendly and trendy at the same time.
Hyosung Heavy Industries participated in the "EASA Convention" held from June 24 to June 27, 2018 in Milwaukee, USA. The event showcased various electric motors and drives. At the world's largest exhibition for motors and drives attended by thousands of motor experts and businesses, Hyosung Heavy Industries drew the attention of visitors by introducing its premium motors designed for the US market. With a full lineup of products for the market, Hyosung Heavy Industries plans to sell the products in the US, the largest market for motors.
Hyosung Heavy Industries offered a product training program to the employees of Samsung Electronics, its biggest customer in the country, starting July 16, 2018. The training program is expected to improve not only work performance but also Hyosung Heavy Industries' corporate image. Samsung Electronics operates a wide range of various power facilities supplied and installed by Hyosung Heavy Industries.
Hyosung Goodsprings hosted the 6th Quality Improvement Contest. Hyosung Goodsprings started hosting this contest in 2015 with the aim of improving productivity and quality. The event serves as a venue for sharing all the improvement activities and results including automation jig development and process improvement. The event yielded more positive results than last year as participants introduced over 60 cases of improvement, such as semi-automatic and automatic jigs. Many agreed that the contest is becoming a more important event than originally expected.
The Construction PU held a meeting of site supervisors on June 27, 2018 at its office building in Bangbae-dong. Attended by 34 people including PU Head Kim Dongwoo, managers from the relevant divisions, team leaders, and site supervisors, the meeting included the notification of amendments to the Labor Standards Act, technical and safety training session, presentation of cases of on-site events, and discussion on site conditions. The meeting of supervisors was a great opportunity for the attendees to identify and share major issues and problems at the site and take the necessary measures in advance to ensure successful project management.
Sebitseom is hosting various summer events in the month of August. The events include special summer foods, International Fire Dancing Festival, and "Summer Night Jazz" for visitors to Sebitseom.
The Class Hyosung launched the "Summer Service Campaign" for the month of July in order to make driving a safer and more pleasant experience for the customers. The Class Hyosung received favorable reviews for offering various auto services including free inspection and discount parts.
Hyosung TNS signed a partnership agreement with CFM, an ATM manufacturer based in the US, on July 19, 2018. Through this agreement, Hyosung TNS expects to improve the level of ATM security and process efficiency and plans to provide an integrated financial platform by connecting the ATMs throughout the US with local banks.
Hyosung ITX signed a KRW 37 billion contract with Hyundai Capital on July 2, 2018 for the management of the latter’s customer center. Hyosung ITX is Korea's leading provider of contact center services for credit card companies, capital loan companies, and banks.
Social Contribution
Hyosung hosted an appreciation event for Korean War veterans and their families on June 27 at the US Army Engineering and Support Center in Huntsville, Alabama. The event was intended to commemorate the sacrifices made by more than 36,000 American soldiers who fought for peace by joining the Korean War with the Allied forces. Having hosted the event for six consecutive years, Hyosung was the first to host such event in 2013 among Korean companies that have entered the US market.
Hyosung recently donated KRW 70 million to the Jongno Women Resources Development Center for underprivileged women. The donation will be used in vocational and job training programs.
Hyosung recently signed an MoU with Gangnam Severance Hospital and international relief organization "Food for the Hungry" for the medical relief activities of the "Smile Expedition," which is scheduled to leave Korea in November this year. The "Smile Expedition” plans to provide more medical services to more people by visiting more areas.
Hyosung, which has been carrying out various national defense activities, received a plaque of appreciation from the Ministry of Patriots and Veterans Affairs on June 29, 2018 for its contribution to improving the welfare of patriots and promoting a sense of patriotism. Hyosung TNS also received a certificate of appreciation for its effort to hire the families of patriots and veterans.
Ulsan Factory won the "Ulsan Mayor Award for Environmental Services on Environment Day" in recognition of its contribution to the development of Ulsan and environmental protection.
Ulsan Factory employee volunteers served free food on July 10, 2018 at the Senior Welfare Center in Nam-gu, Ulsan. On July 24, 2018, they served free food to the elderly people, escorted them to their seats, and collected empty plates. Ulsan Factory has been carrying out social contribution activities including charity food donation since April 2017 as part of the "Talent Donation Program" participated in by the employees.