[FOCUS] 2017, Evolution to an Authentic Global Corporation

2017. 2. 24. 10:54

“I sincerely believe that you, all the members of Hyosung, are the truthful owners of our corporation. Let’s hold our hands together, and dedicate our passion and commitment to create a prosperous future and glorious history together.”

From the inaugural speech of Chairman, Hyun-Joon Cho.

New business policies to lead Hyosung in 2017, summarized below, were provided in last January. Each and every member of Hyosung is accountable to fulfill these policies. To become an authentic global corporation, it is inevitable that each and every member of Hyosung share the same vision and execute their job accordingly. 

 What is an authentic global corporation?

The 2017 Business Policy for Hyosung, “Evolution to an authentic global corporation” materializes detailed execution plans for the catch phrase from 2016, “Centennial Corporation, Hyosung.” In the current era, where discovering new overseas markets, strengthening business capacity and improving qualities are emphasizes more than before, it is Hyosung’s top priority to attack and achieve success in these fields. The first step for prosperity is to know where we are, and focus on where we want to be. In this perspective, each and every member of Hyosung, therefore, must grasp the true vision of an “Authentic” global corporation. An authentic global corporation, as a whole, executes in precision with the upmost highest respectful manner of work, and is the front runner of all fields of competition. Each and every member of an authentic global corporation is accountable to higher standards of performance and shall question themselves, “Is my performance worthy of global recognition?” We should not be satisfied at where we are, and should dedicate our times and efforts to materialize the vision as an “Authentic Global Corporation.” We must thrive on the 4 major business policies of 2017 for a sustainable and prosperous future.


 4 Major Business Policies for 2017

Hyosung’s goal for 2017 is clear: Enhance internal stability by strengthening our business competence to a world-class level; Derive customer satisfaction with customer-oriented management; Execute of responsibility management based on ownership; Cement a foundation of sustainable business management system which can collaborate with society.

Execution of Responsibility Management

• Enact responsibility management by achieving business goals

• Self-completed work ethics by having ownership

• Transparent and trustworthy communication

Sustainable Business Management

• Execution of ethics management 

• Win-win growth with partners

• Robust social contribution activities

Execution of Customer-Oriented Management

• Recognize the individual needs of every customer and provide a distinguished VIU

• Eliminate all customer complaints, gain customers’ trust with more satisfying services

• Thorough and meticulous market research to discover new markets and win new customers

Strengthen World-class Global Business Competence

• Secure world-class technology, quality, & cost competitiveness

• Develop global talents

• Reinforce global management system

 Catch Phrase

Our 2017 catch phrase is “Evolution to an authentic global corporation.” Becoming an “Authentic Global Corporation,” as also mentioned during the company’s 50th anniversary ceremony in November of 2016, is our ultimate goal. Possessing several world-class products and being capable to manufacture numbers of world-first products, Hyosung is now vulnerable to sit on our accomplishments and easily be satisfied with what we have. To remind every member of Hyosung that this is not the end and to be emphasized to encounter future challenges with enthusiasm, the 4 major business policies are set forth to remind our business direction.

Strengthening World-class Global Business Competence

To overcome the challenges arising from the harsh business environment, competitiveness which can leave us victorious in the strong worldwide competition must be secured. Only a world-class global business competence can bring upon this competitiveness, and accordingly, world-class technology, quality, cost competitiveness and customer service is essential.

All of our members must be prominent talents whose capacity and performance meets the standard of global recognition. Therefore, the company will commit necessary resources to develop global talents, and each and every member of Hyosung, shall not stop to develop his or herself to meet the global standards.

The corporate system itself is also subject to improvement and evolution. Operating businesses all over the global map, establishing and implementing and enhancing a global management system are keys for a comprehensive and effective development.


Execution of Responsibility Management

An authentic global corporation is established on the foundation of corporal capability and a trustworthy customer relationship, moreover, a sophisticated internal responsibility management system. The efforts from each and every member to fulfill and never fail our business goals are essential to responsibility management. Every member shall be dedicated to keep his/her promise with the company, and shall be eager to fulfill each and every goal, even before such goals are set. 

“Ownership”, simply and comprehensively defines this mindset, and having ownership over his/her work or task and being a self-completed talent is second to none in executing responsibility management. However, self-completed work must not be misinterpreted as you are allowed to dogmatically conduct your work with no consult with anyone else. The company encourages and insists you to establish a truthful relationship based on transparent and trustworthy communication, which is the essence of responsibility management.


Execution of Customer-Oriented Management

Global Business requires us to explore new customers, satisfy their needs and establish long-term partnerships with them. Thorough and meticulous market research is necessary to develop new markets, and we should not stop in expanding our customer base.

Considering the diversity in customer needs, working environments and products, customer needs shall be the top focus during interactions with customers. The needs of each individual customer shall be recognized. Keep in mind that ‘every customer is different’, and provide an individualized and distinguished VIU (Value In Use) corresponding to each individual needs to satisfy customers. 

Any and all customer complaints must be eliminated with improved quality and on-time delivery. Customer-oriented management with enhanced customer service is crucial to build customer trust and prevent existing customers to leave our customer base, which also have a significant importance other than acquiring new customers. Each and every member of Hyosung shall share this moral, and thrive through any challenge, regardless of its size or severity, that Hyosung may encounter in the future.


Sustainable Business Management

Business Policies and New Year’s Address are public announcements, which are our pledges to society. By announcing our commitment to social contribution, it is important for us to continuously dedicate our time and effort to achieve shared growth with the community.

Hyosung is leading win-win growth with regional middle and small sized businesses through activities with Creative Economy & Innovation Centers, and will publicize our efforts toward shared growth throughout 2017. These efforts will formulate a positive reputation of Hyosung, and induce more members of Hyosung to be involved with the community.

 Only for Customer

Shortcut to prosperity, Customers

Customers are the necessary and sufficient condition in the existence of business. Without customers, a corporation cannot survive. Therefore, “Customer-oriented Management” has been our top subject throughout time. It has been the constant and invariable value since the founding of Hyosung, and has been the code of conduct for all members of Hyosung. Persistent efforts to recognize customer needs, to eliminate any and all customer complaints, and to build customer trust through established partnerships, and the challenging spirit to explore new markets and secure new customers, were, are, and will be the main philosophy all Hyosung People live by.

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