Group News
Hyosung Advanced Materials has decided to establish a new manufacturing corporation in Quang Nam Province, Vietnam to expand its global market share of tire cord. Hyosung Advanced Materials announced that the company will construct production facilities for polyester and nylon tire cord at the second factory site in Tam Thang Industrial Zone in Quang Nam Province located in Central Vietnam. Hyosung established the Vietnam Dong Nai local corporation in 2007 in Nhon Trach Industrial Zone near Ho Chi Minh, and it has recorded approximately KRW 1.7 trillion in sales or about 1% of the total exports of Vietnam. If the investment in Quang Nam Province is completed, the competitiveness of global exports is expected to be increased by the composite production bases connected from the southern to the central parts of Vietnam.
The completion ceremony for the training of the 52nd new recruits was held on Nov. 23 at the Mapo company building to celebrate the successful training and present awards to superior mentoring teams. The new recruits have grown into commendable employees of Hyosung with the on-the-job training through the mentoring program.
A total of 5 teams (30 people including the new recruits and mentors) received superior mentoring awards after 3 months of basic work understanding and work ability development. The grand prize was awarded to Associate Kim Ji-soo and Manager Kang Sang-beom, the mentor, of Hyosung Heavy Industries.
Hyosung Advanced Materials held the 2018 company awards ceremony for overseas workplaces in three categories on Nov. 30 to recognize the contribution of superior overseas corporations, executives, and employees. The “Team of the Year” award was presented to the Composite Materials Team at Hyosung Anryun Co., Ltd. in China and the Production Team in the Carpet Business Division of Hyosung USA corporation. The “Man of the Year” award was presented to 3 workers including Senior Manager Park Jae-gyu at the Qingdao factory. The “Best Supporter of the Year” award was given to Mr. Neeraj Handa of the India corporation.
Changwon Factory welcomed the chairmen of Druk Holding & Investments Ltd. (DHI) and Bhutan Power Corporation (BPC) on Nov. 22. The Changwon factory has done business in Bhutan continuously including the contract for the supply of GIS to a substation of a hydroelectric power station in October 2015. The visit of the chairmen was arranged for the review of the business performances between Bhutan and Hyosung Heavy Industries and the discussion of future projects.
The Construction PU reported on Oct. 24 the plans to execute construction at the site of housing redevelopment in Seowoon District, Incheon. Representative Director Kim Dong-woo and executives and team managers in charge of the technology and design of the construction participated in the reporting session to examine the site operation plan and progress and issues including the input manpower and costs. In addition, they discussed the potential problems and suggestions to achieve the targeted construction period and profits without any problem. The Construction PU will double the assurance to be an exemplary construction site through perfect construction management.
The Construction PU held a mountain trekking event at Mt. Daemosan in Gangnam-gu, Seoul, on Nov. 2. The headquarters of the Construction PU and the Oursourcing Purchase Team of the Jinheung corporation co-hosted the event with the participation of 35 people from partner companies to have an opportunity for mutual communication with the partner companies. The participants walked the 9km Dullegil path of Mt. Daemosan for about 3 hours, exchanging various kinds of information about site management and strengthening human relationships.
The Yongyeon factory held a “PPDH firefighting technology contest” on Nov. 16. A total of 7 teams including partner companies participated in the firefighting drill and OX quiz contest, which are designed to instill safety consciousness. The Yongyeon factory is doubling its own effort to make a safe workplace.
FMK has officially released Maserati “Levante GTS” in the Korean market on Nov. 26. Levante GTS has been reborn as a luxury super SUV with the most powerful V8 engine in the history of Maserati, having maximum power output of 550 horsepower and maximum torque of 74.74kg·m. Though it is an SUV, Levante GTS takes only 4.2 seconds to go from 0 to 100 and maximum speed of 292km/h. In addition, for the first time as a Levante, the integrated vehicle control (IVC) system has been introduced for electronic driving safety device. The new front and rear bumper design has been applied with supreme Pieno Fiore leather in the interior of the car.
Social contribution
Hyosung delivered on Nov. 27 Love Kimjang Kimchi to 1,500 low-income families living in Mapo-gu, where the headquarters of Hyosung is located, so that all the people in the local community could spend a happy winter. More than 20 executives and employees of Hyosung personally visited 100 households to deliver the Kimjang Kimchi made by the Traditional Food Business Corp. of Ulsan Jung-gu Senior Club founded for the self-support of seniors aged 60 and over from vulnerable social groups. Hyosung has been purchasing Kimchi from the business corp. to support social enterprises.
Hyosung delivered KRW 20 million on Nov. 7 for movie production to the foundaton of the Korean Barrier-Free Films Committee, a social enterprise composed of professional moviemen to help people with visual or hearing impairment enjoy movies without barriers. The movies are reproduced with voice explanation for people with visual impairment or elderly, and visual information is offered through subtitles for people with hearing impairment so that everyone could enjoy movies regardless of their physical disability. Hyosung received a plaque of appreciation at the opening ceremony of the 8th Seoul Barrier-Free Film Festival on Nov. 7 in recognition for its continuous interest in and support for the production of barrier-free films.
The Changwon factory held the “Junior Engineering Class” from Nov. 12 to Nov. 20 for more than 150 5th and 6th graders of Dogye Elementary School in Changwon. The Junior Engineering Class is an education donation activity performed by Hyosung employees who persoanlly visit the elementary school in the region and conduct science classes. The class conducted this time had the theme “Raising or reducing voltage” to explain about the principle of power generation, transmission, and distribution as well as the roles of the transformer and circuit breaker produced at the Changwon factory.
Anyang Factory has expanded the fund-raising campaign that began in September as part of a more strengthened social contribution activity. Through the voluntary cooperation of the union and management, all the workers in administrative positions as well as production workers have participated in the campaign to record a 100% participation rate from the previous 61%. Hyosung R&DB Labs and Heavy Industry Research Institute in the Anyang factory have actively participated in the campaign, too. The cumulative amount of donation at the Anyang factory from 2008 to 2017 reached KRW 420 million.
Hyosung TNS has received a citation from the mayor of Gangnam-gu on Nov. 26 at the “2018 Gangnam-gu Volunteer Workers’ Conference” for its exceptional contribution to the local community in 2018. Hyosung TNS is doing voluntary works such as visiting welfare facilities for seniors and children, delivering lunch boxes and distributing meals at cafeterias for senior citizens every month, and sharing rice at year-end. Hyosung TNS is committed to performing various voluntary works continuously as a good member of the local community.
The Changwon Factory of Hyosung Heavy Industries conducted a “making happy furniture together with Hyosung Heavy Industries” event on Nov. 17 as a social contribution activity to help improve the living environment of the social welfare facilities in the region. More than 100 family members of the executives and employees of Hyosung Heavy Industries as well as the university students volunteer corp. of Gyeongsangnam-do participated in the event, which was performed jointly with the Gyeongsangnam-do Volunteer Work Center. Hyosung Heavy Industries made 149 pieces of furniture including desk, table, bookshelf, TV stand, and portable tray and delivered them to the 4 welfare facilities for seniors including Wongwang Nursing Home where executives and employees visit regularly as well as a welfare facility for children located in the region.