Group News
Hyosung TNC participated in “Intertextile Shanghai 2018” held in Shanghai, China, for three days from Sept. 27. Hyosung received much attention by introducing many global No. 1 products in the world’s largest exhibition representing China, a market valued at approximately USD 430 billion. Following last year, Chairman Hyun-Joon Cho listened to the voice of customers by personally meeting with global customers to strengthen communication with the actual field. “We will solidify Hyosung’s status as a global No. 1 company by concentrating all our capabilities in technology, marketing, etc.,” Chairman Cho vowed.
Hyosung held a recruitment fair until Sep. 20 by visiting universities nationwide starting with Hanguk University of Foreign Studies on Sept. 3. “With the honest responses of the employees of Hyosung, my questions were answered,” a student who came to the recruitment fair said. The final successful candidates will be announced early December after document screening, personality and aptitude test, and interview.
Hyosung TNC has established the smart factory system at five factories in China, Vietnam, etc. with the big data technology of Hyosung ITX, a professional IT company. The establishment of the smart factory system was done by the order of Chairman Hyun-Joon Cho as a proactive response to the 4th industrial revolution. With the smart factory system, Hyosung TNC can now establish a next-generation production environment, produce products of consistent quality, and enhance efficiency in all production areas.
Hyosung TNC. a leader in the world’s textile market, held a trend briefing session on Sept. 7 in Mapo Company Building to prepare for the 2020 spring and summer seasons. Hyosung TNC is focusing on developing the materials featured in the new trend based on the big data analysis of Nelly Rodi, a trend information company, to predict the trend and respond sensitively to changes. Hyosung TNC is committed to maintaining its global No. 1 status by continuing to develop its capabilities as the trendsetter.
Hyosung TNC participated in the Bluezone exhibition held in Munich, Germany on Sept. 4 and 5 and introduced the premium yarn for denim. Hyosung was the only Korean company to participate in the exhibition where global industries gathered together. The trendy and good-quality products of Hyosung received favorable response from customers. Hyosung TNC will strengthen its position as a “global premier brand” by enhancing its competitiveness in the new market.
Hyosung Heavy Industries signed an MOU with POSCO E&C at the Mapo Company Building for a “pilot project of smart substation.” The two parties agreed to establish the “substation asset management solution” of Hyosung Heavy Industries at Pohang Iron & Steel Company by March next year and reinforce global competitiveness by grafting the new technology on the new power stations afterward. Hyosung Heavy Industries will lead the era of the 4th industrial revolution through active market exploration.
The briefing session on the completion of the 5th year of Industry Innovation Movement 3.0 was held at the conference room of Changwon Factory 1 on Sept. 4. Industry Innovation Movement 3.0 is the program implemented by the Ministry of Commerce, Industry, and Energy to support the consulting and equipment investment of partner companies with the funds contributed by large companies. The Changwon Factory has participated in the program since 2013 to support the technological innovation and improvement of working environment and production process of partner companies. This year, 18 partner companies of the Changwon Factory participated in the program and made more than 50% improvement. During the event, the participants shared their performances, and the representatives of partner companies recounted their experiences. Suggestions were also collected.
The Construction PU held the Field Safety Day event in the first week of September. PU Chief Dong-Woo Kim, executive and team managers of the head office, and all field staffers participated in the event wherein the safety and health of each site were inspected and superior partner companies and workers were awarded. The Field Safety Day event of the Construction PU is held every first week of the month for the prevention of safety accidents and improvement of employees’ safety awareness at all sites.
Hyosung Advanced Materials held a meeting with CNITA on Sept. 19 at Hyosung’s R&DB Labs. During the meeting, the delegation from CNITA showed much interest in the hi-tech materials of Hyosung, a competitive global leader in various new materials including the world’s No. 1 tire reinforcement material. Hyosung Advanced Materials plans to reinforce its global No. 1 position by actively securing potential customers.
Hyosung Capital held an awarding ceremony on Sept. 3 for the Man of Hyosung Capital in the 2nd quarter of 2018. The winners were: Manager Chae-Eun Jeong in the IT Support Team of Managerial Support HQ for the reinforcement of external competitiveness through the development of a new IT system; Manager Jae-Hak Kim in the Loan Support Team of Risk Management HQ for saving management costs through the selection and sale of bad debt; and Assistant Manager Ji-Young Ahn in the Corporate Banking Team for overachieving sales targets by expanding sales asset and raising profitability through the corporate banking business.
Social Contribution
Members of the Hyosung Group visited the Seoul National Cemetery on Sept. 19 to commemorate the Armed Forces Day, cleaning the cemetery and paying their respects at the tombs. The workplaces of Hyosung in other regions visited nearby national cemeteries to pay their respects.
The Hyosung Group delivered 200 sets of daily necessities to the Seoul South Regional Office of Patriots & Veterans Affairs for elderly men of national merit who are experiencing difficulties in livelihood. With such support, the elderly were able to spend the holidays without any problem.
The Hyosung Group provided KRW 40 million support for the “Hope Sharing Festival” held in Mapo Art Center on Sept. 18. Hyosung has sponsored the festival for 8 years for the low-income but diligent people.
The Changwon Factory provided KRW 10 million support for the “traditional holiday support program” supervised by Gyeongnam General Welfare Center for the Handicapped on Sept. 18 on the occasion of Chuseok. The Changwon Factory prepared meat, fruit, and other foods with the funds raised by the donation of the executives and employees and matching grant of the company. The foods were delivered to 20 households of the handicapped in Changwon, 20 households in Euiryeong, and 20 households in Hamyang. Since 2012, Changwon Factory has sponsored KRW 160 million worth of foods on Lunar New Year’s Day and Chuseok for more than 800 households.
The Ulsan Factory practiced sharing with love Jajangmyeon at the Ulsan orphanage. The employees treated the children with the Jjajangmyeon and Tangsuyuk they cooked themselves, spent the weekend with the children, and handed over diapers, etc. for the babies. On Sept. 11, the factory presented scholarships to two Ulsan National University students who are studying hard despite their difficult financial situation.
A total of 30 members of the Anyang Factory, Hyosung R&DB Labs, Heavy Industry Research Institute, and Hyosung Human Resources Development Center cleaned Anyang Stream on Sept. 19. All the employees participated in making Anyang clean by cleaning the area from the rear gate of the factory to the place near Myeonghakdaegyo on Anyang Stream. The employees of Anyang Workplace fulfill their responsibility to the local region by cleaning the area of Anyang Stream every month as part of their social contribution activity.
Mr. Richard Jones, who is working in the plumbing part of tire cord at the Decatur Factory of Hyosung USA, made it to the front page of the newspaper on Sept. 18 for having worked continuously for 50 years. Mr. Jones entered Goodyear Tire before, and he is still working for the same factory even after its acquisition by Hyosung.
The executives and employees of Hyosung TNS conducted their social contribution activities in September by visiting Suseo Myeonghwa General Social Welfare Center on Wednesday or Thursday. They participated in various programs aimed at helping make the life of the elderly and handicapped children healthy and joyful including prevention of depression among the elderly, delivering lunch boxes and distributing foods at the cafeteria for the elderly, supporting side dishes, and protecting children and teaching them after school.