HYOSUNG TNC

There is a company that fearlessly confronts the possibility of failure, persistently strives towards a better future and is unafraid to navigate challenging paths. While this company may not be one that everyone feels compelled to follow, it undeniably paves way, unveiling new innovations at the end of a journey that someone must undertake. Hyosung has consistently pursued novel technologies to enhance human life, preserve the environment, and enrich the value offered to its customers, all driven by its inherent technological DNA. Hyosung is a company that actively contributes to society, fostering a better future by developing innovative, eco-friendly materials, components, and equipment, positioning itself as an ESG company. With a mission to become the world's leading innovative solutions company, Hyosung aspires to lead transitional era by harnessing the strength and determination of its global workforce.

Hyosung's Holding Company, Business Companies, and Various Affiliates

Over the past 50 years, Hyosung has played a leading role in domestic and international basic industries, forging its history through relentless challenges and the triumph over countless adversities driven by technological development. As the first domestic company to establish a corporate-affiliated research institute and initiator of numerous groundbreaking achievements, Hyosung has evolved into a global enterprise that shapes and advances peoples’ lifestyles across diverse sectors, including textiles, industrial materials, chemicals, heavy industries, and information and communications.

Hyosung has solidified its presence by establishing Hyosung Corp as the holdings company and four business companies; Hyosung TNC Corp, Hyosung Heavy Industries Corp, Hyosung Advanced Materials Corp, and Hyosung Chemical Corp. As of December 31, 2020, it boasts 124 affiliates spanning textile trade, heavy industries and construction, industrial materials, information and communication, and various other business sectors. With a commitment to expanding into international markets and driving growth, Hyosung has established global production bases, operating in 113 business locations across 28 countries. Its overseas presence includes 8 locations in 1 country in North America, 8 locations in 3 countries in Central/South America, 12 locations in 8 countries in Europe, 6 locations in 4 countries in Middle East/Africa, 71 locations in 11 countries in Asia, and 1 location in Oceania."

* Hyosung's Affiliates

- Textile Trade Business: Hyosung TNC

- Heavy Industries and Construction: Hyosung Heavy Industries, Hyosung Good Springs, Chinhung International, Inc

- Industrial Materials: Hyosung Advanced Materials, Global Safety Textiles

- Chemicals: Hyosung Chemical

- Information and Communications: Hyosung TNS, Hyosung Information Systems, Hyosung ITX, Galaxia Electronics, Galaxia Moneytree

- Other Business Areas (Imported Car Sales and Maintenance): The Class Hyosung, Hyosung Toyota, The Premium Hyosung, FMK, Hyosung Premier Motors, A-Seung Automotive Group, and others.

Hyosung's Holding Company and Business Companies

In 2018, Hyosung Corporation transitioned into a holdings company, establishing spin-offs and new companies across different business divisions. Hyosung TNC Corp, specializing in the textile and trading sector, Hyosung Heavy Industries Corp, dedicated to heavy industry and construction sector, Hyosung Advanced Materials Corp, focusing on the industrial materials sector, and Hyosung Chemical Corp, operating within the chemical sector. The transition to a holdings company structure has brought about several advantages, including enhanced transparency in corporate governance and the establishment of a robust management system promotes accountability. The holding company, Hyosung Corporation, primarily concentrates on overseeing its subsidiaries and making strategic investments, while each business companies are entrusted with the responsibility of managing their respective fields of operation.

Hyosung TNC, based on its core values of being Agile, Sensible, Futuristic, and Cooperative, aims to be an innovator that creates sustainable lifestyles. The company primarily focuses on the textile business and is dedicated to building a technology-driven ecosystem. Specializing in the production of yarns such as spandex, nylon, and polyester, as well as fabrics and dyed products, Hyosung TNC has constantly held the top position in the global spandex market for ten consecutive years with its CREORA Spandex. Moreover, the company has been at the forefront of the eco-friendly textile market, leading the way with its sustainable yarn brand, regen.

Hyosung Heavy Industries is committed to harnessing innovative technology to create a sustainable energy of future for the betterment of humanity. Recognizing energy as an essential resource, the company endeavors to develop cutting-edge solutions that generate and manage energy, positioning itself as a leader in total energy solutions. With its core focus on heavy electrical machinery, Hyosung Heavy Industries boasts world-class technological capabilities in industrial energy.

The company is dedicated to advancing various technologies to generate and distribute energy, serving as a comprehensive energy solution provider. It has garnered recognition for its outstanding quality in business areas such as power equipment, encompassing transformers, circuit breakers, and rotating machinery, including motors and gears. In addition, Hyosung Heavy Industries is expanding its presence in emerging sectors such as energy storage systems (ESS) and reactive power compensation devices (STATCOM). Furthermore, it is actively building a value chain for hydrogen charging stations, contributing to developing and adopting renewable and clean energy sources.

Leveraging its extensive experience and trusted reputation, Hyosung Heavy Industries also engages in various construction projects, leveraging its expertise in the field.

Hyosung Advanced Materials Corp aims to become an innovator setting new standards for safety and comfort as a future-oriented, confident, reliable, and proactive company. It develops and produces promising new materials such as high-strength industrial yarns and fabrics and steel wire materials used in various fields such as automobiles, civil engineering, construction, agriculture, and the military. In addition to the world's top-selling products, such as tire cords, yarn for automobile seat belts, and airbag fabrics, it is strengthening its competitiveness through the independent development and commercialization of new materials that will lead the future, such as carbon fibers and aramid.

Hyosung Chemical Corp strives to provide chemical essential chemical materials in our lives in a sustainable manner, without harmful elements. As the world's second-largest manufacturer of Nitrogen Trifluoride (NF3), a critical component in semiconductor and display manufacturing processes, Hyosung Chemical's NF3, with a purity level of 99.999%, is gaining significant attention in the industry. Another key product of Hyosung Chemical is polypropylene, a plastic material widely recognized for its safety and harmless property. In addition to its primary use, the company also produces and supplies by-product hydrogen derived from the polypropylene manufacturing process. This contributes to advancing a hydrogen society and demonstrates Hyosung Chemical's dedication to creating future-oriented chemicals. As a leader in fine chemicals, the company aims to redefine human potential and shape tomorrow's chemical industry.

In addition to the holding company and business companies, Hyosung has numerous affiliates in various business fields, making efforts to improve our lives. Now, let’s dive into the affiliates according to each business field.

Hyosung's Affiliates_#1. Heavy Industry and Construction

The representative affiliates in the heavy industry and construction sector are Hyosung Goodsprings and Chinhung International, Inc. Hyosung Goodsprings is, Korea’s leading pump manufacturing company. As a pump production specialist representing South Korea, Hyosung Goodsprings manufactures pumps used in all locations and industrial sites, from general buildings and skyscrapers to power plants and oil refineries. Moreover, based on its pump production, Hyosung Goodsprings has expanded into new areas and is currently the top company in the domestic RO seawater desalination plant business. Chinhung International, Inc, a comprehensive construction company that centers on civil engineering, architecture, and housing projects, is striving to leap forward as a trustworthy construction company based on its 50 years of construction know-how.

Hyosung's Affiliates_#2. Industrial Materials

Hyosung has two key affiliates within the industrial materials sector: Hyosung Advanced Materials and Global Safety Textiles (GST), which collaborate and share technology. GST is a renowned manufacturer of the world's largest airbag fabrics, placing the utmost importance on safety. The expertise of GST in producing airbag fabrics and its technical capabilities as a cushion maker enables Hyosung Advanced Materials to produce airbags of superior quality that are recognized internationally. GST is involved in producing airbag fabrics and industrial yarns, prioritizing the safety of human life above all else. Its core ideology revolves around the belief that nothing is more valuable than safeguarding human life.

Hyosung's Affiliates_#3. Information Communication

Hyosung's ICT sector affiliates include Hyosung Information System, HyosungITX, Galaxia Electronics, and Galaxia Moneytree. First, Hyosung Information System (HIS) is a specialist company in data infrastructure and solutions, established as a joint venture between Hyosung and Hitachi Data Systems (now Hitachi Vantara). At the time of its foundation, it was an IT specialist company that handled enterprise storage. It was the first to supply mainframes and disks to public and financial institutions in Korea. It started providing ICT technologies, such as enterprise-wide software for storing, transmitting, and manipulating information through all computers and networks connected to storage, and audio-visual systems, evolving from an IT company to an ICT specialist company. Currently, it performs all tasks of collecting and processing a company's data in one place and obtaining valuable insights. It has grown into a company responsible for the overall digital transformation (DX) of the company.

HyosungITX is a company that offers business a wide range of IT solutions. Its services include contact center operations that provides and manages the communication channels between companies and customers, IT services providing various network infrastructure and technologies to companies, and display solutions business offering everything from the sales to installation of video equipment such as beam projectors. As a versatile IT solutions provider, HyosungITX delivers comprehensive support to companies across various industries, offering the necessary infrastructure, technologies, and services to meet their IT requirements.

Galaxia Moneytree is the final affiliate to be introduced. This leading domestic fintech company provides essential e-commerce solution with integrated electronic payment (PG, Payment Gateway). As the first company in Korea to develop mobile department store gift certificates and hold the top market share in the domestic prepaid payment market for convenience stores, Galaxia Moneytree leads the comprehensive financial platform service in the fintech market. Galaxia Moneytree, which enables all online and offline transactions with fintech technology, is also attracting attention due to its subsidiary Galaxia Metaverse. Galaxia Metaverse is a blockchain specialist company that issues, sells, distributes, and manages digital assets as NFTs. Through Galaxia Metaverse, Hyosung is preparing to establish the foundation of the NFT platform business and rise as a more flexible fintech company.

Hyosung Group, Preparing for the Future with Agility

Hyosung Group comprises numerous affiliates across diverse industrial sectors, including business companies within major areas. The common thread uniting all Hyosung companies and affiliates is their focus on innovations for our lives. Hyosung Group continuously researches and develops future-oriented services and products to enhance the convenience and to steer society toward a better direction. Agile in responding to changing times, the group engages in various businesses, recognizing the direct connection between Hyosung's future and the future of humanity.

Hyosung Group is an ever-evolving entity that embraces change and new challenges to shape a better world. With a steadfast commitment to innovation, the group strives to provide customers with innovative services and products that cater to their evolving needs. Through continuous investment, research, and development, Hyosung prepares to lead the future and ensure its long-term competitiveness.

Hyosung remains dedicated to creating and sustaining a better life for humanity. Our unwavering promise is to grow ceaselessly, earning and responding to our customers' trust. Keep an eye on Hyosung Group's future journey as it fulfills its commitment to customers who anticipate innovation and sustainability.