HYOSUNG TNC

The world's first climate-related technology and industry expo, also known as “The World Climate Industry Expo (WCE 2023)” was held at BEXCO in Busan from last May 25th to 27th. With the overarching theme of "Beyond the Climate Crisis, the Path to Sustainable Prosperity," this event served as a meeting point for both domestic and international entities within the climate industry spectrum. Following attendees involved climate-focused companies, governmental bodies, international organizations, and the general public that collectively joined together to showcase cutting-edge technologies and policies that address the global climate challenge. The 2023 World Climate Expo (WCE 2023) was held by integrating four events that occurred separately every year which includes 'The Carbon Neutrality Conference', 'Korea Energy Show', 'The Carbon Neutrality EXPO' and the 'International Environment and Emergency Technology (ENTECH) Special Exhibition'. WCE 2023 was structured by planning pre-event, opening ceremony, conference, exhibition, and supplementary activities, all curated to highlight carbon neutrality and climate industry development as an agenda for global economic growth as a clear future vision. A notable highlight within the WCE 2023 landscape includes the Ministry of Foreign Affairs and Ministry of Oceans and Fisheries, which gained significant attention during joint international conference and leader’s summit that was held for overcoming climate change crisis.

Leaders Summit 2023

The Leaders Summit, held as a part of the World Climate Industry EXPO 2023 (WCE 2023), was held to discuss the response under the theme of global cooperation and solidarity regarding climate change in the maritime sector. The theme "Global Cooperation and Solidarity in Responding to Climate Change in the Maritime Sector," stood as a crucial platform to plan international efforts. Leaders Summit invited leaders representing Pacific and Caribbean Island nations—regions affected by the repercussions of climate change which made this event more meaningful. During this summit, Hyosung also made a significant contribution by lending its voice to discussions centered on ocean protection and forging a sustainable future.

Heads of state and government, including the Prime Minister of Tuvalu, the Prime Minister of Belize, the Prime Minister of Barbados, the Deputy Prime Minister of Fiji, the Foreign Minister of the Marshall Islands, and the Secretary of State of the Bahamas, as well as the heads of relevant international organizations such as the Pacific Islands Forum (PIF), the Intergovernmental Panel on Climate Change (IPCC), the International Maritime Organization (IMO), the Global Green Growth Institute (GGGI), and representatives from corporates and civil society organizations attended the Leaders' Summit and held in-depth discussions on climate change in the maritime sector. The Leaders Summit consisted of two sessions where the first session started with an opening speech on ocean conservation and climate change, then the second session on decarbonization of shipping for a better ocean, starting with an opening speech by Prime Minister Han Deok-soo. During the first session, Hyosung had the opportunity to share its efforts to protect the ocean and the importance of ocean conservation with heads of state, government officials, and companies.

Hyosung's Initiatives to Protect the Ocean

At the Leaders Summit which featured a keynote speech by Hwang Yun-Eon, the Head of Corporate Strategy Department at Hyosung Group shared the importance of ocean conservation and how Hyosung is working to protect the oceans with each country’s heads of state, government officials, and individuals from related companies.

The speech started with the story of the Mariana Trench, the deepest ocean in the world, 10,000 meters below the surface where only a few people have been able to reach. James Cameron, the director of the movie ‘Avatar’, and American explorer Victor Vescovo was the starting point for the participants to hear about Hyosung's pledge to protect the ocean.

Recently, the problem of plastic waste in the ocean has become so serious that it has even been found in the Mariana Trench, the world's deepest ocean, at a depth of 10,000 meters, and newly discovered species of sea creatures actually have plastic in their bodies, giving them the scientific name of "plastic." In addition, discarded fishing nets in the ocean are also known as "Ghost nets" because they depict mass deaths of marine life. Since the early 2000s, Hyosung understood the serious consequences of ocean plastics and discarded fishing nets on the ocean ecosystem, and has searched for ways to recycle the main source of marine pollution so that marine life does not die from these wastes. As a result, it came up with regen Ocean Nylon, the first of its kind in the world. regen Ocean Nylon is a nylon yarn made by collecting and recycling discarded fishing nets collected from the ocean. Following regen Ocean Nylon, Hyosung launched regen Ocean Polyester, which is made by collecting and recycling plastic bottles found in the ocean. regen Ocean Polyester is certified as Ocean Bound Plastic and is recognized for its eco-friendliness. Since the regen Ocean brand represents a series of yarn made from ocean waste, the technology itself can be considered a project to save the ocean, and consumers can participate in the project to protect the marine ecosystem just by wearing clothes or bags made with regen Ocean.

In addition, Hyosung is directly engaged in marine forest conservation activities to improve the marine environment. Marine organisms need marine forests as it acts as food sources, spawning grounds, and habitats for them. Hyosung has been conducting activities to preserve one of these forests such as the seagrass forest, and sparing no effort to preserve the diversity of marine species and protect their right to live. Seagrass is an important plant that serves as a food source, spawning ground, habitat, and shelter for marine life, and the seagrass forest has been certified as blue carbon by the IPCC, the Intergovernmental Panel on Climate Change. Hyosung is taking action to preserve the seagrass forest, which is shrinking due to rising water temperatures, marine pollution, and coastal development, and to protect 'biodiversity' beyond the rights of living species. In fact, Hyosung is not only responding to the marine environment; it has established RE:GEN, the groups ESG brand, and is continuously conducting various activities for the environment, reflecting Hyosung's will to respond to the future of all generations through eco-friendly technology innovation. Hyosung's presentation at the Leaders Summit not only highlighted the group's efforts to respond to climate change through RE:GEN, but also how it is specifically responding to climate change in the marine sector, and was an opportunity to reiterate the importance of preserving marine biodiversity.

Marine plays an important role in regulating and observing global weather patterns, as climate change is expected to cause ocean anomalies such as melting ice, sea level rise, and ocean acidification due to rising temperatures, which in turn will harm marine life and ecosystems. The Leaders' Summit was held to discuss solutions to climate change issues in the ocean, requiring global and national attention and efforts for conservation. It was a meaningful time where officials from various countries and international organizations came together to discuss international efforts and the way forward under the theme of global cooperation and solidarity to respond to climate change in the ocean. Hyosung hopes that the Leaders' Summit will serve as an opportunity for a better future and sustainable ocean protection. Each government, international organization, and companies shared their efforts to preserve the ocean, slow down climate change, and develop technologies to decarbonize shipping for a better ocean, Hyosung used this opportunity to not only promote the brand,’ RE:GEN’, but also showcase the various efforts it has been implementing to protect the ocean. Hyosung will continue its efforts to protect the oceans and defend the rights of various species on the planet to live in order to create a sustainable tomorrow. This Leaders’ Summit was an opportunity for Hyosung to raise awareness of the importance of protecting the oceans. Hyosung will continue to preserve marine ecosystems and raise awareness of marine ecosystem preservation in order to create a better future and a sustainable tomorrow for all generations.