Chairman Cho Hyun-Joon and Governor of China’s Zhejiang Province Discuss Business Cooperation
Zhejiang Governor Yuan Jia Jin visited our company’s office building on August 25 in Banpo and met with Chairman Cho Hyun-Joon, President Cho Hyun Sang, and other executives of the Hyosung Group. Zhejiang Province is a global hub where our group’s main businesses are based. Governor Yuan Jia Jin thanked our group for contributing to the economic development of Zhejiang and promised to expand government support programs for attracting investments. Celebrating its 20th year of doing business in Zhejiang, our group is committed to expanding our businesses in Zhejiang in order to use it as a base for capturing the Chinese market; thus strengthening our global position in the process.
“CORPORATE DAY,” a Joint Roadshow Organized by 4 Hyosung Subsidiaries
Four subsidiary companies of the Hyosung Group held the “CORPORATE DAY” in Yeouido, Seoul on August 16. The 2-day event attracted many domestic institutional investors that expressed great interest in Hyosung’s outstanding business competitiveness, unique technology, and high-value products. The CEOs and top management met in person with the major investors, and their enthusiastic engagement with the investor community drew positive responses from the participants. The Hyosung Group intends to continue organizing such meetings with domestic and overseas institutional investors.
Business Subsidiaries Host Analyst Meetings
For 3 days on August 27 and 30 and September 3, IR specialists from Hyosung business subsidiaries hosted a series of IR meetings starting with Hyosung TNC, followed by Hyosung Advance Materials, Hyosung Chemical, and Hyosung Heavy Industries. These meetings were attended by each subsidiary’s finance executives who engaged in discussions with the analysts who covered the subsidiaries. The objective of the meetings was to enhance the companies’ credibility in the market by using the analysts as windows of communication with the market.
Hyosung “PRISMA” Wins the 2018 IR52 Jang Young-sil Award
Hyosung's PRISMA won the 2018 IR52 Jang Young-sil Award (3rd quarter) on August 28. As one of Korea’s leading industry awards, the Jang Yeong-sil Award is given to research organizations that develop products and have technology competitiveness recognized as the best in Korea. PRISMA is a “high positive ion dyeing (CD) polyester (PET) fiber” developed by Hyosung for the first time in the world using a continuous process. Unlike ordinary PETs, this product can produce vibrant<?>, clear dye color because it is manufactured using a high-temperature/high-pressure process, and it is very much sought after by customers. The researchers who were honored with the award are committed to paving the way for innovations, and they vow not to stop challenging themselves.
Hyosung TNC Participates in Brazil’s Febratex
Hyosung TNC's Brazil subsidiary participated in Febratex, a textile industry exhibition held in Santa Catarina on August 21. As the largest textile exhibition in the world, Febratex attracted more than 2,000 exhibitors from 60 countries and 90,000 visitors over a 4-day period. The Brazil subsidiary drew the interest of industry visitors with a large collection of premium yarns produced in its local factories. In the years to come, we can expect great performances from our Brazilian subsidiary, which is cementing our reputation as the “world’s number one” producer of fabrics.
Tire Cord Market Share in India, Indonesia, Vietnam, and Thailand Exceeds 40%
The market share of Hyosung Advanced Material's “world’s number one” tire cord products in 4 emerging markets that include India and Indonesia have exceeded more than 40%. Pegged at 22% in 2016, the market share doubled in two years as sales of automobiles soared on the heels of growing economies. Hyosung introduced high-strength tire cord products after considering the poor road conditions of the region; the excellent sales figures are proof that its localization strategy was the right move. We are very confident that tire cords will continue to expand their market share not only in Asia but also worldwide.
Training Session for Team Leaders and Executives on Putting Responsibility Management into Practice at Changwon Plant
Team leaders and executives received training on the “Role of Leaders and Self-Fulfillment Leadership” on July 5. This was followed by an additional training session held over 3 rounds on July 25 and August 1~2. This follow-up training targeted executives and team leaders and taught them examples of how responsibility management should be practiced as well as guidelines for practices with special emphasis on points deemed important by the company. The training also involved identifying areas in each other’s department where responsibility management was needed. Through training that could be applied to the workplace, we hope that Changwon Plant has gotten one step closer to having a “healthy corporate culture.”
Hyosung Heavy Industries Construction PU Carries out Safety Inspections at Construction Sites in Response to the Summer Heat Wave
With the summer heat wave continuing unabated, the Construction PU carried out on-site inspections for safety and health management. Construction PU Head Kim Dong-woo visited a residential complex construction site in Oncheon-dong, Busan on August 10 to check how the summer heat wave is being dealt with on the site and discussed how to make improvements for the future. In addition, he sent watermelons and ice cream to the field workers, gave them words of encouragement, and urged them to carry out health management activities on their own initiatives.
Hyosung Information System Supplies Korea Yakult with All Flash Storage Systems
Hyosung Information System delivered the Hitachi VSP G1500 All Flash storage systems and the Hitachi VSP G400 hybrid storage system to Korea Yakult. To solve the problem of storage capacity limitations of its legacy system and enhance work processing speeds, Korea Yakult decided to deploy all flash storage systems. After reviewing major vendors' products on the merits of stable replacement and performance, the Hitachi All Flash storage was chosen because it had already proven its worth in many different industries. The deployment was completed earlier this year.
Hyosung Capital Holds 2018 Town Hall Meeting
Hyosung Capital held a town hall meeting on August 21 to communicate and share our management philosophy and vision with the employees. The agenda for the town hall meeting consisted of review of the 2018 1st-half business results, presentation of the 2nd-half strategic directions, attitude toward work and code of behavior advocated by the company, and message from the CEO. According to CEO Kim Yong-Deok, the company’s main focus of activities would be preventing the loss of assets, improving the company’s financial stability, and sustaining growth. Through a lecture on “Attitude toward Work and Code of Behavior Advocated by the Company,” he described the right mindset and behavior changes required of Hyosung’s employees.
Hyosung ITX Unveils Tanium, Which Can Respond to Ransomware in 15 seconds
Hyosung ITX unveiled Tanium, its next-generation security solution, at the 12th International Cyber Security Conference (SEC 2018) held at COEX, Seoul, Korea starting August 30. When a ransomware intrusion occurs in a company, and information is leaked, the security administrator must be able to determine detailed information about the terminal and respond to the attack as well as prevent any further attacks. Note, however, that existing traditional models take considerable time isolating the network and deploying measures after the attack; identifying additional infections or deploying patches could take several months. Hyosung ITX's Tanium attracted the interest of industry observers with its ability to respond within 15 seconds of the launch of ransomware.
The Premium Hyosung Sponsors Gwangju’s Heemang Plus Project
The Premium Hyosung’s Toyota Gwangju sponsored the Heemang Plus Project targeting the Seo-gu District of Gwangju. Its sponsorship of wedding car and car sharing service for social welfare facility users and workers is expected to benefit the local community considerably.
1st Yevitsome Film Festival and Asian Games Live Broadcast on Sevit Island
The 1st Yevitsome Film Festival was held on Sevit Island on August 10. Hollywood masterpieces were screened for free during the film festival, attracting crowds of visitors. The "Midsummer Night's Jazz" concert was also held for two days, providing sensory fulfillment to the masses. Sevit Island is emerging as the hot place for street cheering. Some of the major competitions of the 2018 Asian Games were shown on the giant screen, earning a lot of positive feedback from the citizens because they had the rare experience of cheering for the national team on the wide open banks of Hangang River.
3-Year Anniversary of Reprisal Against North Korea’s Landmine Attack
Representatives of Hyosung attended the commemorative event for the 3rd Anniversary of Reprisals Against North Korea’s Landmine Attack on August 4. The company honored the patriotism of the soldiers who were involved and conveyed the support and encouragement of the general public.
Hyosung Sponsors Reading Cafés in ROK Army 1st Corps for the 3rd Consecutive Year
Hyosung sponsored the construction of 3 reading cafes in Baekhak Battalion and 2 other battalions of the ROK Army I Corps (“Gwanggaeto Corps”) and attended the opening ceremony held on August 28. Since 2016, Hyosung has been supporting ROK Army’s “Army Barracks for Reading” campaign. For the past 2 years, it had sponsored the construction of 4 reading cafes in the Gwanggaeto Corps barracks. The reading café donated by Hyosung could store about 1,000 books and accommodate up to 14 people at a time. Air-conditioning and heating equipment were installed in the room so that soldiers serving on the front lines could cultivate their knowledge in a pleasant environment regardless of the season.
Ticket Donation Ceremony for the Musical <Shinheung Military Academy> in Commemoration of the 70th Anniversary of the Founding of the ROK Army
Hyosung and ROK Army HQ hosted a musical ticket donation ceremony for culturally underprivileged families at the Yongsan Army Hall on August 31. The 100 million won donated by Hyosung was used to invite 600 individuals from underprivileged classes and 400 veterans and ROK soldiers to come and watch the musical "Shinheung Military Academy," which was staged to commemorate the 70th anniversary of the founding of the ROK Army. Through this musical, Hyosung provided the underprivileged with opportunities to enjoy a premium performance and gave the army troops time to relax and find military inspiration. Chairman Cho Hyun Joon expressed hope that the patriotic mentality of our forefathers could be remembered and rewarded through this sponsorship.
Support for Purme Foundation NEXON Children’s Rehabilitation Hospital
Hyosung visited the Purme Foundation NEXON Children's Rehabilitation Hospital on August 17 and donated 20 million won for the mobile dentist bus project for people with disabilities. The money will be used for the operation of the mobile dentist bus donated last year.
Once a month, the mobile dentist bus operated by the Purme Foundation NEXON Children's Rehabilitation Hospital visits handicapped persons’ residential facilities in Mapo-gu district and daytime care centers. Last year, the bus service made 7 rounds of 10 facilities and treated 160 people. This year, the hospital plans to provide dental service to 200 people.
1-on-1 Sponsorship of Underprivileged Children of Vietnam
The Hyosung Group held a business contract signing ceremony on August 14 with an international relief agency for supporting underprivileged children in Vietnam. Around 200 employees will become 1-on-1 sponsors of 150 children living in Kon Tum Province. The employees will support the children’s livelihood and education until 2020.
Hyosung ITX Opens 6th Dodreami Center
Dodreami (a Hyosung ITX subsidiary that employs people with disabilities) held an opening ceremony for its 6th Dodreami Center in the Incheon Labor Welfare Government Complex on September 3. To mark the opening of the 6th center, the company collaborated with the Korea Employment Agency for the Disabled and the Seoul Job Training Center for the Disabled in hiring 10 new handicapped persons and starting a customized training program on café management.
Since its foundation by Hyosung ITX in 2013 for the purpose of increasing employment opportunities for the disabled, Dodreami has been relentlessly striving to provide a safe working environment and create jobs for disabled persons. As a result, the company currently employs 58 disabled people working at in-house cafes, nail art store, kiosks, and business support services.
Newly Promoted Hyosung TNS Employees Perform Volunteer Activities
Newly promoted Hyosung TNS employees visited the Suseo Myeonghwa Comprehensive Social Welfare Center and performed volunteer activities. They cleaned every corner of the welfare center to make the environment more pleasant and as part of the company’s social responsibilities. The employees personally carried out corporate social contribution duties.
Yongyeon Plant Makes Donation to Community Chest of Korea
Representatives from Hyosung’s Yongyeon Plant delivered a donation of 3 million won to the Community Chest of Korea on August 23. “Thank you for this valuable donation despite the economic downturn and the cold spell in donations,” said Secretary General Park Eun Duk, who attended the donation ceremony. The donated money will be used to help out the residents of Sunam-dong who are suffering from difficult economic circumstances.
Employees from Anyang Business Complex Carry out Environmental Cleanup Activities
A total of 30 employees from the Anyang Plant, Hyosung R&DB Labs, Heavy Industries Research Institute, and Hyosung Human Resources Development Center conducted cleanup activities from the road leading from the front gate of the plant to Hogye Park on August 29. Every month, employees from the Anyang business complex carry out environmental cleanup activities near Anyang Stream and Hogye Park as part of the company’s social contribution activities. They are fulfilling their duties to the local community as members of a company beloved by the residents.