HYOSUNG TNC

An unforgettable, depressing 90s shook Korea - a period of which parents still tell stories of the hardships they had to overcome. A crisis that led 11 out of 30 major Korean companies to go bankrupt and over 1.27 million people to lose their jobs simultaneously. In the summer of 1997, the Asian financial crisis originated in Thailand and swept across Southeast Asian countries, including Malaysia and Indonesia. Unfortunately, Korea was taken hold that same year. On November 21st, 1997, Stanley Fischer, the Deputy Managing Director of the IMF, and Changyuel Lim, Deputy Prime Minister of Finance & Economy, held a confidential meeting in Seoul. That night, the government decided to request liquidity support from the IMF. These requests came at a cost, as the IMF had demanded high-interest rates, restructuring, and more. Korea was nearing default status, and nationwide movements took action to collect as much money and gold as possible from company executives and local citizens. As a result, the exchange rate soared exponentially, which had caused more than 3,000 companies in Seoul to go bankrupt. 1998 became a year of sadness, where numerous, hardworking individuals lost their jobs. Hyosung was no exception. Like many others, the company faced a desperate situation as the business declined in revenue. Hyosung had developed a strong, close-knit company where employees had been working together for years. Instead of laying off the employees, who were like family, Hyosung opted for a business restructuring strategy that was based on humanism. Hyosung chose to overcome the crisis together with the employees. Now, Hyosung shines as brightly as its name, which means ‘morning star’. It is global number one in the world’s spandex market share and selected as the world's best GIS (Gas Insulated Switchgear) company. Not to mention, Hyosung boasts number one in the world’s market share for tirecords, seatbelt yarns, and airbag fabrics. Their achievements are the result of overcoming numerous challenges, including the foreign exchange crisis. The journey of Hyosung, becoming an icon of trust Since the founding of Hyosung Corporation in 1957, followed by the establishment of Dongyang Nylon in 1966, Hyosung began its journey as a comprehensive chemical fiber maker. In order to secure certified patent technology, Hyosung established the first private technology research institute in Korea in 1971. This research institute became a major engine for their corporate growth. That same year, Hyosung Advanced Materials' tirecords came into the spotlight. Hyosung developed its own technology to produce tirecords, which are now used by 50% of the world's automobiles. Based on keen business foresight and technical know-how, Hyosung expanded its materials business to produce PET containers, which were mostly glass products. This moment of innovation brought a paradigm shift to the container market in the late 1970s. The 1990s saw a rise in global competition, and Hyosung took the opportunity to focus on developing high-value-added products. It developed its own technology to produce spandex, also known as ‘semiconductors of the fiber business,’ and core products such as 765KV transformers for ultra-high-speed power transmission systems. This helped kick-start their chemical business into the polypropylene, film, and TPA industry. Hyosung has a long-established trust with its customers, owing to its solid technical capabilities and quality standards, which have been steadily recognized since its establishment. Furthermore, Hyosung is widely recognized as a top-tier, trusted company in not only South Korea, but across the global continent with a customer-centered mindset. Hyosung's bold move in forecasting the future With the looming foreign exchange crisis around the corner, Hyosung took a step forward in pursuing management efficiency through business restructuring and achieving record-breaking sales of one trillion won. In 1998, the company built on a new driving force to cope with the crisis. At that time, Hyosung Group's flagship companies (Hyosung Industrial, Hyosung Heavy Industries, Hyosung Living Industry, and Hyosung T&C) all merged into Hyosung Corporation. The company took bold action to sell off its non-core businesses, including Hyosung BASF and Hyosung ABB, which were forecasted to be profitable during the crisis. Instead, Hyosung introduced the PG (Performance Group) and PU (Performance Unit) systems in order to pursue significant financial restructuring and management efficiency. As a result, Hyosung's operating profit increased, and its debt ratio significantly improved after the foreign exchange crisis. Seizing the crisis as an opportunity, Hyosung secured a growth momentum since the start of the crisis to a fully established global market network in the present. Through globalization, the company has become a major player in the global market. In the 2000s, Hyosung dedicated its resources to exploring overseas markets and establishing itself as the world’s best in its flagship products, including tirecords and spandex. From then on, Hyosung embarked on a journey to become a global company by establishing a presence in the United States, China, Vietnam, Europe, and South America. Currently, it is expanding its global production bases to respond to overseas market entry and rapid growth, with 106 factories in 28 countries. Hyosung strives to provide differentiated products and services through a global production and sales system. In 2018, Hyosung achieved a holding company structure to strengthen its management expertise. It established four subsidiaries, Hyosung TNC, Hyosung Advanced Materials, Hyosung Heavy Industries and Hyosung Chemical, and an independent management system led by professional management specialists. Hyosung has leaped forward to become a materials expert through outstanding technological prowess and bold decision-making, and currently holds approximately 550 domestic and foreign fiber patents. Additionally, it holds over 700 patents related to advanced materials, more than 1,000 patents related to chemicals, and approximately 700 patents related to heavy industries. As a global company operating businesses in various countries, Hyosung has firmly established its position as a global enterprise; by pioneering overseas markets while contributing to the Korean economy. A hundred years of tomorrow, prepared through the voice of the customers With its bold and innovative management foundation, Hyosung has been at the forefront of addressing environmental concerns. Hyosung TNC developed their iconic green recycled fiber, ‘regen’. In 2008, regen took off as an eco-friendly fiber made from recycled PET bottles. Since then, Hyosung has greatly expanded its lineup of eco-friendly functional fibers, which is now the leading global trend in eco-friendly fibers. Hyosung Chemical was also the first in the world to commercialize polyketone, an eco-friendly engineering plastic, and the liquid hydrogen project. Led by Hyosung Heavy Industries, this project is still being actively pursued today. In 2017, during Chairman Cho Hyun-Joon of the Hyosung Group’s inaugural speech, he stated that he would create a company that listens to the voices of its customers and clients. Hyosung will strive to be a company whose pride lies in technology and a company that always wins. All of these points were embodied in the word 'customer.' In 2023, he expressed his aspiration to pursue customer satisfaction and happiness by moving toward a 'customer-immersed management' through a 'customer-first' policy. The mission to emphasize the 'customer,' has led Hyosung in a symbolic endeavor to not only listen and respond to the voice of the customer but also to understand the customer through multiple perspectives. Hyosung's growth has always been based on the VOC (Voice of Customer) management philosophy, taken at every direction, and has enabled them to move strategically. Through reliable technological innovation for customer satisfaction, Hyosung is preparing for a leap toward a strong and successful future for the next 100 years.

Leaders from across the world gathered in Paris in December 2015. Their nationalities and cultures differed, but they had a single goal in mind: To curb temperature rise caused by global warming. There had been numerous meetings of the Conference of the Parties to the United Nations Framework Convention on Climate Change before this one, but they all had ended without any resolution due to conflicting interests. However, this time was different, because everyone at the table knew what was at stake: the imminent and urgent necessity of addressing climate change. With the Paris agreement adopted, the world is pulling together to curb down the temperature rise to below 1.5 °C. Hyosung as a global citizen is also playing its part. It is envisioning a carbon neutral future by promoting hydrogen, a clean energy source. By 2025, Hyosung plans to secure hydrogen production technologies driven by blue and green hydrogen that emits lower or zero greenhouse gas in a bid to build a clean hydrogen ecosystem. Based on such technologies, development and demonstration of carbon-reduction technologies will be pursued accordingly. By 2030, a total of 1 trillion Won (equivalent to 1 billion USD) will be invested to achieve technological self-sufficiency when it comes to development and utilization of hydrogen energy. This is also expected to help Korea reduce carbon emission by 10%. To this end, key affiliates of Hyosung Group are putting efforts to build the hydrogen value chain of production, storage, distribution, supply and consumption. Why is holding global warming to 1.5 °C such a big deal? 1.5 Degrees, the Danger Line for Global Warming According to the ‘Special Report on Global Warming of 1.5 °C’ released by Intergovernmental Panel on Climate Change (IPCC) in 2018, a 1.5°C global warming above pre-industrial levels will put the humanity as a whole and our home planet Earth in grave danger. Can you imagine the North Pole without ice? A 1.5°C average temperature rise would increase the probability of an iceless summer to every 100 years. A 2°C rise would mean the probability increase to once every ten years. An iceless Arctic Ocean will absorb a larger proportion of sunlight and in turn further accelerate global warming. This will mean higher temperature, more frequent heavy rain and flooding. If an iceless North Pole meets with heavy rain, it will lead to sea level rise to inundation of coastal residential areas. Marine ecosystems will be no exception. Especially, habitat-forming species such as coral reefs compared to their mobile counterparts will take the hardest hit. A 1.5°C rise in temperature could wipe out as much as up to 90% of coral reefs in the world. Without coral reefs, maritime biodiversity will be significantly destroyed which will then affect the world’s fish ecosystem. It is expected the global overall fish catch will decline 150,000 tons per annum. Remember the dire heat waves and droughts that hit around the globe last summer? A 1.5°C rise is estimated to bring such deadly heat waves to 14% of the global population at least once every five years. While we hesitate, the global temperature is fast approaching a 1.5°C rise. If we do not take action now, what was taken for granted will disappear very quickly, and there will only be regrets when the nature and ecosystem are destroyed. Let’s take a look at how Hyosung is partaking in building a carbon-neutral future driven by hydrogen. Hyosung, a hydrogen superhero Affiliated companies of Hyosung have been pulling together to commercialize hydrogen to replace fossil fuel, in order to build the hydrogen value chain of production, storage, distribution, supply and consumption. Liquid hydrogen is at the front line of Hyosung’s such efforts. As one of the largest industrial conglomerates in Korea, Hyosung has partnered with a global gas name Linde to jointly build Hyosung Hydrogen and Linde Hydrogen Energy. Linde Hydrogen Energy which will be responsible for production of hydrogen is to build the world’s largest liquid hydrogen facility with an annual capacity of 13,000 tons with an aim to kick off in May 2023. This facility will process enough hydrogen to fuel 100,000 cars. Hyosung Hydrogen will be leading the global expansion and distribution of the hydrogen production with an aim to expand its liquid hydrogen refueling stations up to 30 by the time the facility is built. The main driver of the entire hydrogen businesses pursued at the conglomerate is Hyosung Heavy Industries. Based on its experience of building a nation-wide network of CNG filling stations since 1999, the company has been the leading player in domestic hydrogen refueling stations. As of today, it has built 25 hydrogen gas stations across major cities in the country with 16 more in pipeline. Hyosung Heavy Industries is also a leader in wind power turbine and ESS. Its 50MW capacity ESSs require top notch technology as they are often directly connected to important facilities such as national grid and large-scale factories. Hyosung Heavy Industries supplies ESS to major electricity names from England and South Africa. Hyosung Chemical is responsible for production of hydrogen gas. It sells 12,000 tons of hydrogen gas extracted during the process of propylene, the key material for plastic production. Starting from next year, Hyosung Chemical is to supply liquid hydrogen jointly with Linde. When liquefied, hydrogen gas volume is reduced to 1/800, making storage easier and storage capacity larger. In turn, liquid hydrogen refueling stations require only 30% of the space required for hydrogen gas stations. All in all, supply of this by-product hydrogen with price competitiveness is expected to facilitate a hydrogen economy. Hyosung TNC and Hyosung Advanced Materials supply materials required for hydrogen storage tanks. Nylon for tank liners from Hyosung TNC and carbon fiber for tank structure from Hyosung Advanced Materials are critical for safe hydrogen transportation. Carbon fiber is also used in fuel tanks in hydrogen vehicles. Time to get used to charging, not refueling A future where we fill our cars not with gasoline or diesel but with hydrogen at gas stations is just around the corner. It will not end there. Electricity supplied to homes and buildings will be based on hydrogen, while fossil fuel power stations will be replaced with hydrogen fuel cell power plants. This will significantly cut down emission of air pollutants into the air. Steel mills will also be able to produce steels on carbon-free hydrogen energy. We already have witnessed how changes can bring about positive results amid the pandemic. Border lockdowns led to economy contraction but ironically the pandemic improved our environmental situations. Less vehicle travels and lower industrial production meant lower emission of greenhouse gas, carbon dioxide and air pollutants. According to the World Meteorological Organization, since the pandemic PM2.5 (fine particular matters) have declined as much as 40% in Africa, South Americas and South Asia. Hyosung hopes the clean blue sky we enjoyed during the pandemic is here to stay. In the face of the villain greenhouse gas that is inflicting the world, our superhero Hyosung continues on its fight to prevent global warming from reaching a 1.5 °C rise.

For over six decades, Hyosung has opened up new horizons in numerous technological developments aimed at improving people’s lives. In doing so, Hyosung has come to stand shoulder to shoulder with global companies in technology and product quality. Hyosung's wish for a better life for humanity has led to concrete achievements in various fields. Hyosung has been leading the circular economy, producing eco-friendly B2B products, and taking the lead in protecting the global environment by reducing greenhouse gas emissions. Today, Hyosung is relentless in innovations to achieve a greener planet, utilizing hydrogen to make a net-zero environment for our future generation. Hyosung has continued its efforts toward environmental, social, and governance (ESG) issues, such as circular economy, sustainability, and carbon neutrality. Let’s take a look at Hyosung’s Five Management Principles. These principles, the basis for all Hyosung-affiliated businesses, provide a glimpse of its future initiatives. Here are the detailed descriptions of the five principles that have been the backbone of Hyosung's business. [Hyosung's Five Management Principles] l People-oriented business: Valuable relationship with people always comes first. l Customer-oriented Management: We listen to the Voice of the Customer (VOC) l AGILE Management: Quick response to change l Exceed expectations: Offer the best quality l Data Utilization: Think and prove based on systematic, scientific data 1) People-oriented business: Valuable relationship with people always comes first Hyosung’s first and far most crucial management principle is putting people at the front line of business. The engine for success is all about people. Suppose Hyosung is a large ship sailing the sea of the economic market. In that case, a navigator must establish a destination, a helmsperson who steers the ship, and a captain to direct the crew. In other words, Hyosung can only arrive at its destination with the collective power of talented individuals as a team, using their skills in various fields to sail the ship. Hyosung has grown into an international corporation leading the global market trend thanks to the efforts and passion of its executives and employees in various fields. Hyosung exists because of its employees. This principle is proven by their various employee education programs, fostering next-generation leaders. Hyosung provides training for all employees of all duty and position. In addition, the company annually selects employees above the manager level to conduct an interview with executives, and run mentoring programs. They also operate motivational programs encouraging employees to learn a new language. A short-term executive MBA course is also in place for executives to share the professional knowledge necessary for business division management. In addition, the Hyosung Talent Award and Outstanding Employee Award celebrate individuals in all Hyosung affiliations who have achieved personal growth and excellent business performance in their areas. These awards strengthen loyalty and provide valuable experiences for employees to feel rewarded, motivated and pride in their work. 2) Customer-oriented Management: We listen to the Voice of the Customer (VOC) Hyosung's management principal goal is to satisfy its clients. Under the belief that all answers in the market lie with the customers, Hyosung has concentrated its management on identifying and discovering the needs of consumers and providing good value. By listening to the voices of customers, Hyosung understands what they desire more quickly and accurately than anyone else. This approach has become the foundation for Hyosung in developing new technologies and products in the market, discovering new global supply chains, and building a worldwide network. Hyosung developed a project coined ‘C-Cube,’ a big data based on customers' feedback, opinions and market situations, and has been utilized across all affiliations. This project has been developed to satisfy Hyosung's B2B customers. The big data is based on the voices of our customers and competition. Based on this data, Hyosung is consistently connecting with the Voice of Customer (VOC) and is striving to improve customer satisfaction. In addition, Hyosung has been seeking a win-win growth strategy with small and medium-sized enterprise (SMEs) customers by supporting them to enter overseas markets. Also, The Company is installing booths and seeking marketing opportunities with SMEs at various global exhibitions. 3) AGILE Management: Quick response to change Hyosung has experienced dramatic economic growth from the 70s to the 80s, when manufacturing was the dominant industry, to the blooming of the IT industry in the 2000s. Hyosung is now facing the 4th industrial revolution and understands the importance of organizational agility. It is critical to efficiently adopt new technologies and trends in this time of transformation. AGILE management principle aims to increase the speed and efficiency of the organization and quickly grasp the flow of market changes that lead to the trends. With AGILE management, Hyosung expects to create new business opportunities and quickly grasp the opportunity. Hyosung's development of eco-friendly B2B products is a typical example. From the early 2000s, Hyosung began paying attention to sustainability and environmental issues. At that time, interests in the global environment were less fervent. Leading eco-friendly innovation, Hyosung developed regen® ocean nylon, the world's first recycled yarn produced from fishing net waste, one of the main culprits of marine pollution. In addition, the company developed regen® polyester made from 100% plastic bottle wastes for the first time in Korea, and is supplying the recycled yarn to global apparel brands. By developing post-consumer recycled (PCR) products, Hyosung has successfully introduced an economic cycle in the textile industry and creating consumption value for environmentally conscious consumers. Furthermore, Hyosung is actively developing new businesses that can contribute to solving global warming. Specifically, the company has built a liquefied hydrogen plant for hydrogen vehicles to reduce greenhouse gas emissions and become carbon neutral. Hyosung has also been working to produce green hydrogen by developing carbon fibers essential for high-pressure hydrogen transportation. 4) Exceed expectations: Offer the best quality Since the 1960s, Hyosung has been leading the synthetic fiber industries, heavy industries, advanced material, and chemical industries. Hyosung has been concentrating on technology development and product innovation to produce high-quality products that exceed the expectations of customers. Its achievements are evident through numerous domestic and overseas patents - 548 domestic and foreign textile-related patents, 708 advanced materials-related patents, 1,037 chemical-related patents, and 692 heavy industries-related patents. Multiple patented technologies created by Hyosung's researchers and technicians are truly the foundation for the company's sustainable growth and customers' better future. Hyosung succeeded in developing recycled nylon yarn for the first time in the world, leading the production of environmentally friendly fibers and accelerating the economic cycle in the textile market. Through constant technological development, Hyosung is being recognized in many fields, including the global spandex and tire cord, where Hyosung boasts global no. 1 market share. Hyosung has been continuously developing new materials, including spandex creora®, and carbon fiber TANSOME®, the primary material for hydrogen storage containers. Polyketone, FDA-approved eco-friendly plastic using carbon monoxide as raw material, is the world’s first of its kind. Hyosung's best technology permeates every aspect of our daily lives with these new materials. In addition, Hyosung has continued R&D and investments to take lead in the high-technology industry and is continuously developing technologies with new materials, big data, and artificial intelligence. 5) Data Utilization: Think and prove based on systematic, scientific data Hyosung's customers are not limited to specific regions as they are distributed worldwide. They are diversified around multiple industries, value chains and roles, including production, sales, management, and R&D. Hyosung's branches and corporations worldwide collect VOC and vast information regarding customers, competitors, and markets. Hyosung intends to utilize such data through systematic and scientific database management based on VOC collection. Data-based management has the advantage of being able to identify and collect data to lead the market trend. Hyosung uses VOC in various ways, from customer strategy to product and technology development, investment-related strategy establishment, and decision-making. For B2B clients who have been our clients for a long time, Hyosung considers trust crucial in business relationships. The data Hyosung accumulates from the customers enables to build a long-term relationship by predicting future market changes and identifying the correlation between our customers’ competition and the market. Hyosung is also building an intelligent factory as digital transformation (DX) in the 4th industrial revolution will increase the competitiveness of the manufacturing industry. Hence, Hyosung is innovating the production process by introducing smart factories domestically in the Changwon plant and overseas locations, including China, Vietnam, and India. Hyosung's Five Management Principles for Sustainable Growth to Protect the Future of Mankind Hyosung's Five Management Principles outline the company's present and future directions. Each of these principles is closely related to ESG and sustainability. Based on the philosophy of placing people first, Hyosung listens to customers, responds flexibly and with agility to the changing markets, develops high-technology quality products, and carries out scientific management. Through mission-driven management toward ESG, Hyosung has developed eco-friendly products ahead of the times. Hyosung makes an enterprise-wide effort to operate its company considering even the small details, with the intention to create an environment where people can lead a comfortable, safe and eco-friendly life. Hyosung's multifaceted efforts illuminate the company's successful future by enabling rapid change ahead of the era of constant development and revolution.

For over six decades, Hyosung has opened up new horizons in numerous technological developments aimed at improving people’s lives. In doing so, Hyosung has come to stand shoulder to shoulder with global companies in technology and product quality. Hyosung's wish for a better life for humanity has led to concrete achievements in various fields. Hyosung has been leading the circular economy, producing eco-friendly B2B products, and taking the lead in protecting the global environment by reducing greenhouse gas emissions. Today, Hyosung is relentless in innovations to achieve a greener planet, utilizing hydrogen to make a net-zero environment for our future generation. Hyosung has continued its efforts toward environmental, social, and governance (ESG) issues, such as circular economy, sustainability, and carbon neutrality. Let’s take a look at Hyosung’s Five Management Principles. These principles, the basis for all Hyosung-affiliated businesses, provide a glimpse of its future initiatives. Here are the detailed descriptions of the five principles that have been the backbone of Hyosung's business. [Hyosung's Five Management Principles] l People-oriented business: Valuable relationship with people always comes first. l Customer-oriented Management: We listen to the Voice of the Customer (VOC) l AGILE Management: Quick response to change l Exceed expectations: Offer the best quality l Data Utilization: Think and prove based on systematic, scientific data 1) People-oriented business: Valuable relationship with people always comes first Hyosung’s first and far most crucial management principle is putting people at the front line of business. The engine for success is all about people. Suppose Hyosung is a large ship sailing the sea of the economic market. In that case, a navigator must establish a destination, a helmsperson who steers the ship, and a captain to direct the crew. In other words, Hyosung can only arrive at its destination with the collective power of talented individuals as a team, using their skills in various fields to sail the ship. Hyosung has grown into an international corporation leading the global market trend thanks to the efforts and passion of its executives and employees in various fields. Hyosung exists because of its employees. This principle is proven by their various employee education programs, fostering next-generation leaders. Hyosung provides training for all employees of all duty and position. In addition, the company annually selects employees above the manager level to conduct an interview with executives, and run mentoring programs. They also operate motivational programs encouraging employees to learn a new language. A short-term executive MBA course is also in place for executives to share the professional knowledge necessary for business division management. In addition, the Hyosung Talent Award and Outstanding Employee Award celebrate individuals in all Hyosung affiliations who have achieved personal growth and excellent business performance in their areas. These awards strengthen loyalty and provide valuable experiences for employees to feel rewarded, motivated and pride in their work. 2) Customer-oriented Management: We listen to the Voice of the Customer (VOC) Hyosung's management principal goal is to satisfy its clients. Under the belief that all answers in the market lie with the customers, Hyosung has concentrated its management on identifying and discovering the needs of consumers and providing good value. By listening to the voices of customers, Hyosung understands what they desire more quickly and accurately than anyone else. This approach has become the foundation for Hyosung in developing new technologies and products in the market, discovering new global supply chains, and building a worldwide network. Hyosung developed a project coined ‘C-Cube,’ a big data based on customers' feedback, opinions and market situations, and has been utilized across all affiliations. This project has been developed to satisfy Hyosung's B2B customers. The big data is based on the voices of our customers and competition. Based on this data, Hyosung is consistently connecting with the Voice of Customer (VOC) and is striving to improve customer satisfaction. In addition, Hyosung has been seeking a win-win growth strategy with small and medium-sized enterprise (SMEs) customers by supporting them to enter overseas markets. Also, The Company is installing booths and seeking marketing opportunities with SMEs at various global exhibitions. 3) AGILE Management: Quick response to change Hyosung has experienced dramatic economic growth from the 70s to the 80s, when manufacturing was the dominant industry, to the blooming of the IT industry in the 2000s. Hyosung is now facing the 4th industrial revolution and understands the importance of organizational agility. It is critical to efficiently adopt new technologies and trends in this time of transformation. AGILE management principle aims to increase the speed and efficiency of the organization and quickly grasp the flow of market changes that lead to the trends. With AGILE management, Hyosung expects to create new business opportunities and quickly grasp the opportunity. Hyosung's development of eco-friendly B2B products is a typical example. From the early 2000s, Hyosung began paying attention to sustainability and environmental issues. At that time, interests in the global environment were less fervent. Leading eco-friendly innovation, Hyosung developed regen® ocean nylon, the world's first recycled yarn produced from fishing net waste, one of the main culprits of marine pollution. In addition, the company developed regen® polyester made from 100% plastic bottle wastes for the first time in Korea, and is supplying the recycled yarn to global apparel brands. By developing post-consumer recycled (PCR) products, Hyosung has successfully introduced an economic cycle in the textile industry and creating consumption value for environmentally conscious consumers. Furthermore, Hyosung is actively developing new businesses that can contribute to solving global warming. Specifically, the company has built a liquefied hydrogen plant for hydrogen vehicles to reduce greenhouse gas emissions and become carbon neutral. Hyosung has also been working to produce green hydrogen by developing carbon fibers essential for high-pressure hydrogen transportation. 4) Exceed expectations: Offer the best quality Since the 1960s, Hyosung has been leading the synthetic fiber industries, heavy industries, advanced material, and chemical industries. Hyosung has been concentrating on technology development and product innovation to produce high-quality products that exceed the expectations of customers. Its achievements are evident through numerous domestic and overseas patents - 548 domestic and foreign textile-related patents, 708 advanced materials-related patents, 1,037 chemical-related patents, and 692 heavy industries-related patents. Multiple patented technologies created by Hyosung's researchers and technicians are truly the foundation for the company's sustainable growth and customers' better future. Hyosung succeeded in developing recycled nylon yarn for the first time in the world, leading the production of environmentally friendly fibers and accelerating the economic cycle in the textile market. Through constant technological development, Hyosung is being recognized in many fields, including the global spandex and tire cord, where Hyosung boasts global no. 1 market share. Hyosung has been continuously developing new materials, including spandex creora®, and carbon fiber TANSOME®, the primary material for hydrogen storage containers. Polyketone, FDA-approved eco-friendly plastic using carbon monoxide as raw material, is the world’s first of its kind. Hyosung's best technology permeates every aspect of our daily lives with these new materials. In addition, Hyosung has continued R&D and investments to take lead in the high-technology industry and is continuously developing technologies with new materials, big data, and artificial intelligence. 5) Data Utilization: Think and prove based on systematic, scientific data Hyosung's customers are not limited to specific regions as they are distributed worldwide. They are diversified around multiple industries, value chains and roles, including production, sales, management, and R&D. Hyosung's branches and corporations worldwide collect VOC and vast information regarding customers, competitors, and markets. Hyosung intends to utilize such data through systematic and scientific database management based on VOC collection. Data-based management has the advantage of being able to identify and collect data to lead the market trend. Hyosung uses VOC in various ways, from customer strategy to product and technology development, investment-related strategy establishment, and decision-making. For B2B clients who have been our clients for a long time, Hyosung considers trust crucial in business relationships. The data Hyosung accumulates from the customers enables to build a long-term relationship by predicting future market changes and identifying the correlation between our customers’ competition and the market. Hyosung is also building an intelligent factory as digital transformation (DX) in the 4th industrial revolution will increase the competitiveness of the manufacturing industry. Hence, Hyosung is innovating the production process by introducing smart factories domestically in the Changwon plant and overseas locations, including China, Vietnam, and India. Hyosung's Five Management Principles for Sustainable Growth to Protect the Future of Mankind Hyosung's Five Management Principles outline the company's present and future directions. Each of these principles is closely related to ESG and sustainability. Based on the philosophy of placing people first, Hyosung listens to customers, responds flexibly and with agility to the changing markets, develops high-technology quality products, and carries out scientific management. Through mission-driven management toward ESG, Hyosung has developed eco-friendly products ahead of the times. Hyosung makes an enterprise-wide effort to operate its company considering even the small details, with the intention to create an environment where people can lead a comfortable, safe and eco-friendly life. Hyosung's multifaceted efforts illuminate the company's successful future by enabling rapid change ahead of the era of constant development and revolution.

The unparalleled global leader in spandex Recent muggy summer weather has pushed many people to turn to outdoor activities or a dip into the pool. More people are thus opting for ‘athleisure’ clothing. Hyosung’s creora® is the main driver behind the casual clothing trend. The spandex brand has continued in the number one market share position for ten years. You might be surprised to discover that creora® is at the core of almost all major sportswear products we use daily. From latecomer to forerunner: Early investment in assembly lines for high-performance products and locally customized marketing paid off Hyosung was the first Korean company to develop this spandex technology back in 1992. Known as the ‘memory chip of textile,’ spandex can stretch up to five to eight times longer than its original length without any change to its original form. Its everyday application ranges from sportswear and underwear to socks and even masks. Though it was a latecomer in the global market, Hyosung dreamed big to create “the world’s best spandex that ushers in a creative 21C’ and named it ‘creora®’ – a combination of two words: ‘creative’ and ‘ora'. And 20 years later, the rest is history. As early as the late 1990s, Hyosung recognized the importance of having an extensive global reach and establishing assembly lines in countries such as China, Vietnam, Turkey, and Brazil. The goal was clear: A stable supply of various products that meet the needs of different customers in different markets at the time they want. Having these production lines ready early and focusing on developing high-performance products has paid off in distinguished stretch, recovery and comfort. It joins with textile businesses and global apparel names to identify market trends and build longer-run business partnerships. In warmer weather, Hyosung proposed products made of yarns with anti-bacterial and UV cut properties. In places like Brazil, known for its love for vivid colors, the company’s customized marketing strategy provides textiles with excellent dyeing properties. Fabric that fits like your own skin Various products are available under the creora® brand that comes in varying characteristics and meet different needs. creora® Power-Fit is a spandex with high power and excellent heat resistance, maintaining its fabric power even at high temperatures or re-dyeing. This offers outstanding deeper color and better fastness dyed with dispersed dyestuff, with excellent stretch recovery. Additionally, it fits like your own skin offering comfort in daily activities and sports. creoa® highly prevents spandex degradation by chlorine elements often used for swimming pool sterilization. It offers higher chlorine resistance than that of general spandex, and thus is applied to swimwear to improve fabric durability. creora® Fresh is a spandex product that possesses excellent deodorizing and durability attributes. Because it effectively removes odors caused by post-exercise sweat, creora® Fresh is always pleasant to wear and leaves you with a refreshing feeling. Additionally, creora® Color+ with the unique color fastness and creora® Black with a deep and exclusive black color also make the color of fabrics deeper and offer comfortable support for the body movements. creora®, rise high with the wings of sustainability As an unparalleled market leader for over 10 years, creora® continues to fulfill its commitment to sustainability through its ESG management. creora® eco-soft enables heat setting at a low temperature compared to common spandex and requires minimal energy consumption when producing yarns, thus reducing carbon dioxide emissions. A production of 10,000 T-shirts with 250g/yd (4% spandex) can cut at least 120kg worth of CO2. regen® spandex, a 100% recycled spandex is made from reclaimed industrial waste. It contributes to preserving our environment while offering a similar level of functionality to new spandex despite being produced from recycled material. creora®’s commitment to preserving environments geared toward sustainable yarns will only grow with time. Shortly, it plans to develop a detailed vision for developing bio-based yarns and reducing oil consumption. At the same time, it aims to further consolidate its position as the number one spandex by expanding its market share to 34% by 2026. creora® will only continue to rise higher.