HYOSUNG TNC

The pandemic that swept across the globe in 2019 was a stark reminder of humanity's fragility and vulnerability in the face of natural disasters. We have taken steps away from the immediate impact of the infectious disease crisis, but climate change continues to pose a challenge. It is becoming increasingly evident that climate change is having profound effects on our lives and is reshaping the way we live. Individuals and corporations alike are beginning to understand that this change impacts our lives and our existence. Climate change has emerged as an issue of paramount importance for humanity's continued survival on Earth, and the climate crisis has become an unavoidable problem that we must directly confront. As a result, numerous corporations, including Hyosung, are dedicated to relentless research and exploration of diverse solutions to address the climate crisis.

In response to this global societal crisis known as climate change, we at Hyosung have established 'Green Management VISION 2030'. We have implemented green management principles, enhanced green business execution, expanded green purchasing, taken a leading role in climate change response, and generated eco-friendly growth momentum. Through these efforts, we are striving to reduce greenhouse gas emissions.

Hyosung's Endeavors to Slow Climate Change

In 2015, the United Nations unveiled the Sustainable Development Goals (SDGs), arguably the most closely watched benchmark of our time. SDGs embody the philosophy of sustainable development through 17 common goals and 19 specific targets for humanity under the slogan ‘Leave No One Behind.’ To achieve the SDGs, corporations worldwide are adopting these shared goals for humanity and fostering change through individual actions and practices.

Hyosung, having declared 'Green Management VISION 2030' based on the SDG indicators, is sparing no effort in its company-wide endeavors to combat climate change by advancing various initiatives. Embracing ESG (Environmental, Social, Governance) management, Hyosung sets greenhouse gas reduction targets suitable for each business and formulates annual investment plans for energy-saving facilities to reach these goals. As a result, in 2020, Hyosung achieved approximately 4.3% reduction in energy consumption and greenhouse gas emissions compared to 2019.

Hyosung has integrated its EHS (Environment, Health, Safety) and CSR (Corporate Social Responsibility) committees into an 'ESG Management Committee' under the jurisdiction of the CEO. This integration allows Hyosung to address not only environmental, safety, and health sectors but also social and governance structures.

Hyosung's 'ESG Management Committee’ engages in deliberations on a wide range of matters relevant to the ESG era. These include climate change countermeasures, the establishment of ESG-related policies and goals, risk management and investment, and activity planning. Such discussions clearly demonstrate Hyosung's strong and steadfast commitment to ESG management.

Hyosung's Pursuit of Low-Carbon Energy Transition Tailored to Each Business

Hyosung Heavy Industries is preparing for the next era of high-efficiency energy, mitigating the variables encountered when utilizing renewable energy that does not emit carbon, and equipping facilities to supply such energy reliably. They are also developing energy storage systems (ESS) for efficient energy use and spearheading the realization of a hydrogen society through the expansion of hydrogen charging stations and the development of hydrogen supply technologies.

Hyosung Chemical has successfully developed and commercialized Polyketone, an eco-friendly high-molecular engineering plastic. This innovative material reduces carbon dioxide emissions and produces byproduct hydrogen during production. By producing and selling liquid hydrogen and contributing to the establishment of domestic hydrogen ecosystems, Hyosung Chemical plays a crucial role in advancing the construction of the envisioned hydrogen value chain.

Hyosung Advanced Materials has announced three strategic green management directions, including 'ZERO Emission (carbon)', and is continuously striving to reduce greenhouse gas emissions and minimize the climate change impact. Carbon fiber, a next-generation advanced material successfully developed by Hyosung, is a core component used in ultra-high-pressure hydrogen storage vessels for hydrogen mobility infrastructure, such as hydrogen fueling stations. It is gaining attention for its ability to facilitate the movement and storage of gaseous hydrogen, contributing to the convenience and efficiency of hydrogen activation. Carbon fiber is also recognized for its potential for reducing greenhouse gas emissions.

Lastly, Hyosung TNC, which focuses on developing low-carbon materials while considering sustainable growth in the textile industry and reducing greenhouse gas emissions, offers a wide range of eco-friendly functional fibers such as regen Spandex, regen Nylon, regen Ocean Nylon, regen Polyester, and regen Ocean Polyester. Hyosung TNC's eco-friendly fibers, produced by recycling discarded fishing nets, PET bottles, or waste generated during the production process, have gained recognition for their environmental value.

Thus, Hyosung leads the eco-friendly market with tailored technology development for each business and strives to reduce carbon emissions in ways that are appropriate for the company's operations. Internally, the company is making relentless efforts in various ways to reduce carbon emissions, including the replacement of high-efficiency facilities, the supply of high-efficiency energy products and solutions, and investments in facilities for reducing greenhouse gas emissions through the transition to low-carbon energy.

Green Action for the Environment! Hyosung's Eco-friendly Challenges

To ensure a better and healthier planet for both our current and future generations, Hyosung invests in, researches, and develops technologies that enable resource circulation without harming the environment. Hyosung is also actively involved in implementing eco-friendly initiatives, including environmental challenges, in addition to technology development.  

Hyosung TNC's 'regen Jeju' and 'regen Seoul' projects, started in Jeju and expanded to Seoul, are initiatives aimed at collecting discarded PET bottles and transforming them into eco-friendly regen Jeju Polyester fiber and regen Seoul Polyester yarn. These projects contribute to Jeju and Seoul’s environmental preservation by collecting and repurposing PET and also provided an opportunity to raise public awareness about plastic recycling. Additionally, they served as a platform to showcase Hyosung's technological capabilities in eco-friendly fibers.

In addition, Hyosung has conducted various eco-friendly challenges within the company. Hyosung Advanced Materials and Hyosung Chemical organized the 'Eco-friendly, Geumsangchumhwa (finishing touch)’ and 'Zero Waste Day' challenges for their employees. The challenges involved the use of bamboo toothbrushes and reusable shopping bags to reduce plastic consumption and lowering the resolution and brightness of monitors to reduce carbon footprints. These internal eco-friendly challenges reflect Hyosung's commitment to shifting environmental perceptions, not only through research and development of eco-conscious technologies but also through practical implementation by its employees.

Hyosung TNC has committed to joining the public-private cooperation network to address environmental issues as part of the ‘Zero Seoul Activist Group’ initiative led by Seoul Metropolitan Government. A total of 13 companies, three economic councils, and one media company are participating in this initiative. In addition to its ongoing eco-friendly initiatives, Hyosung will collaborate on Seoul's environmental policies, including building energy efficiency, electric vehicle charger distribution, and zero waste management. The company will also actively participate in citizen campaigns to address the climate crisis. As a member of the Zero Seoul Activist Group, Hyosung is dedicated to continuing its diverse range of eco-friendly activities.

Hyosung’s green actions through its eco-friendly challenges hold significant meaning as they provide an opportunity to shift the perception that discarded resources can be circularly utilized to create new high-value products and reduce our carbon footprint. Hyosung is committed to actively participating in the eco-friendly movement at various levels, including each business, Hyosung Group as a whole, and in collaboration with Seoul. Hyosung will take every step possible to slow climate change and make the planet a better place.

Another Move by Hyosung to Protect the Environment

Hyosung's commitment to environmental protection goes beyond eco-friendly products and reducing carbon emissions. They have organized tree-planting events to restore endangered plants, donated saplings, and provided funding for the creation of planting areas. They conducted beach cleanup activities to commemorate the International Day for Biological Diversity. Moreover, recognizing the impact of the ongoing climate crisis on biodiversity, including changes in species distribution and composition, the spread of invasive pests, and ecosystem disruptions, Hyosung is actively engaged in biodiversity conservation activities to preserve flora and fauna that have lost their habitats.

Understanding that protecting diverse animals and plants that have lost their habitats or are facing extinction due to climate change is crucial to safeguarding the planet, Hyosung continues its biodiversity conservation activities alongside technology development for carbon neutrality. While we enjoy more comfortable and prosperous lives, the damaged environment and the resulting climate crisis pose risks to ecosystems which, in turn, endanger our own lives. Hyosung works daily to reduce carbon emissions and prevent ecosystem collapse from breaking this destructive cycle.

Hyosung's careful consideration of the climate crisis and its focus on ecosystem preservation and eco-friendly product development reflects its desire for current and future generations to live on a healthier Earth. Hyosung consistently prioritizes the environment and strives to conduct business activities that preserve and do not harm it, ensuring that our next and subsequent generations can live in a more sustainable world. Hyosung is continuously implementing ESG management practices, which include comprehensive environmental management, strengthening compliance management systems, operating the ESG Management Committee, and publishing Sustainability Reports. Hyosung remains committed to these practices and will strive to create a better Earth for all generations without ceasing its efforts.