[2018 New Year’s Address] Let’s Do Our Best to Play an Important Role in Driving the Company to 100 years

매거진/Webzine(English) 2018.01.22 17:59




Dear Hyosung members,


The promising Year of the ‘Dog’ is now upon us. I sincerely wish the very best of health and happiness to all of you and your families during the New Year.


Following last year, the global economy seems to be maintaining a positive growth trend this year as well. However, competitors around us are stronger than ever.


In order to overcome this crisis, I would like to underscore the need for you to practice three issues key issues that I have emphasized since I was appointed as president, but not yet established. Clearly these have not been fully established; therefore, we must make this an immediate priority.


First, answers can be found in the voices of our clients and markets. and We should heed and apply them to insure success. Although this is the most critical action for our survival, we do not properly efficiently practice it due to an overarching sense of complacency: ‘thinking we already know everything about the market’. I hope all of us can actively conduct ourselves with a sense of crisis urgency in knowing that our competitors are meeting more clients than us and responding to market changes one step ahead of us.


Second, I would like to ask you to put forth more efforts in securing a world-class level of technological competitiveness. Hyosung has grown into a global company by making technologies and quality as our DNA for success. However, we are currently growing complacent by savoring standing on our past the accomplishments we achieved in the past. Let’s. We must strive further in order to uphold our status and pride.


Third, we need to practice responsible management, which will help us realize true success in the market. We should not lay the reasons make excuses why we are behind our competitors and missed goals due to external circumstances or blame others to blame on, but Instead, we need to find the problems and hunker down together to resolve them. and collectively focus on the issue and implement the resolution.





In addition, I wish to tell you two more things. Due to the emerging Fourth Industrial Revolution based on IT that is being actively proliferated, strategies are being established and carried out based on data accumulation and analysis in all industries. However, our data accumulation for markets, clients, technologies and ourselves is not being properly handled managed; therefore, so changes are urgently needed. Therefore, In order to follow the flow of the market changes, all of us should realize the importance of this and discover what must be done and act accordingly from now on.


Finally, I would like to emphasize the need for win-win management relationships with subcontractors. In a business environment where competition is becoming intensified, it is very difficult to find ways for us to survive and sustain on our own. Therefore, we should seek out capable subcontractors and strengthen partnerships with them to uncover ways to collectively grow together.


My esteemed Hyosung members, we are sure to encounter many difficulties in our long journey towards becoming a company with a hundred-year-long history. Although I requested many things through rather serious topics while referencing the New Year, I firmly believe we have the potential to realize those goals based on the experience of our first 50 years that are now behind us.


All of us can must act as a pioneer which will lead us to a successful future. so To that end, let’s do our best to play an important role in driving the company with an aim to last 100 years. Once again, I wish all of you a happy New Year. Thank you.




Hyosung Corporation

Cho, Hyun-Joon, CEO and President






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