In Korean, a morning star figuratively refers to someone who has the potential to become successful in the future, and “Hyosung” is a Chinese word for morning star. Figuratively, “Hyosung” also means “something or someone that is exceptional or extraordinary.” The history of Hyosung shows that its name is a perfect match for the company, given all the trailblazing achievements that it has made over the years.
Korea’s First Nylon Tire Cord Developer
In 1967, most of tire cord fabrics were made of rayon. Hyosung was convinced that the domestic tire industry would be able to compete globally in price and quality, with the technology to replace rayon with nylon. Hyosung successfully developed the much-needed technology and its Ulsan plant began to produce nylon tire cords in 1968. As a trailblazer, Hyosung became the first maker of nylon tire cord in Korea, and now, it is the world’s no. 1 polyester tire cord.
Hyosung Created Korea’s First Private R&D center
The Korean government began to establish R&D centers in 1978 as part of its policy to promote the development of industrial technologies. Hyosung was one step ahead and opened its R&D center in 1971 to provide the world’s best-quality products. The R&D center is now an integral part of the company as the birthplace of Hyosung’s new technologies, including new materials for textile products. The R&D center has grown into an independent unit with reinforced R&D capacity.
Hyosung, Korea’s first Producer of Polyester Tire Cord Fabric
Hyosung successfully developed high-strength polyester threads which were then used only for medical purposes. It also became the first developer of polyester tire cord fabric in Korea. Polyester tire cord fabric offers superior high-speed driving performance and stability. Since it was first commercially produced in 1978, polyester tire cord fabric has been a flagship product of Hyosung. Currently, Hyosung is a global leader in polyester tire cord fabric market with the largest production volume and the highest market share.
Hyosung Produced the First Computers in Korea
First computers made in Korea! At the beginning of Korea’s computer industry was Hyosung. In April 1978, Hyosung launched an electronics division within Tong Yang Nylon. In 1980, Hyosung opened a computer factory in Gumi and sent its employees to Hitachi in Japan to train and acquire the necessary technology. As a result, Hyosung was able to manufacture Hitach LH-320 office computers, making it the first computer maker in Korea. Hyosung’s computer division focused on banking services and has grown into Nautilus Hyosung with the biggest market share in Korea.
Hyosung Acquired the First Certification for Resist Printing for All Product of ‘Swan BCF Carpet’
In March 1983, Hyosung completed the construction of a plant on an area of 3 9,669㎡ in Weolsan, making it the only company in Korea capable of seamlessly producing everything from threads to final product carpets. With the opening of the factory, Hyosung officially entered the carpet market. In addition, all of Hyosung’s Swan BCF carpet products were certified as resist printing carpet by public research institutions including KAIST, which was the first such certification in Korea.
Hyosung, Korea’s First developer of 765kV Transformer
Following the successful development of 345kV ultra-high voltage transformer in February 1978, Hyosung opened a new chapter in the history of Korea’s power generation by developing the 765kV ultra-high voltage transformer. Although the transformer was still in its pre-commercial stage, it was a meaningful achievement because the transformer was made entirely with domestic technologies. In 1998, the commercial production of the transformer began.
Hyosung’s In-House Development of Spandex
In the 1990s, new types of synthetic fiber became popular. Hyosung decided to embark on the development of high-value added Spandex, and to develop its own technology instead of paying royalty to foreign companies. After several trial and errors, Hyosung successfully developed its own technology to produce Spandex in January 1997, placing Korea among the four countries with the Spandex-making technology in the world.
The First Developer of High-Performance Carbon Fiber in Korea
Hyosung spent over 3 years in developing the technology necessary to make carbon fiber. In May 2013, the company completed the carbon fiber factory. The factory is capable of producing 2,000 tons of high-performance carbon fiber per year. The local government identified a new growth engine industry, and a corporation and the local government conducted joint research, which was followed by a large-scale investment by the corporation. The successful joint endeavor of the local government and a private business was voted as a model case. Hyosung plans to expand its annual production capacity to 14,000 tons by 2020, which will then replace the entire amount of currently imported carbon fiber with domestically produced carbon fiber. Previously, all of the carbon fiber consumed in Korea was imported.
The World’s First Commercial Production of Polyketone
Over 10 years in duration, 50 billion won in R&D cost, investments and passion. All of these were combined to create the world’s first polyketone. Polyketone is a new cutting-edge, high-performance material developed by Hyosung. Hyosung built a polyketone production facility capable of producing 1,000 tons per year in March 2012, and plans to invest a total of 1.05 trillion won by 2020.
Written by staff editors
Illustrated by Ha-rim Han