[2020 Green Mobility Awards] Mobility Energy Award Hyosung

At the Hyosung Advanced Materials Co., Ltd. Jeonju Plant located in Jeonju, Jeollabuk-do, Hyosung Chairman Cho Hyun-joon (left) and President Moon Jae-in (fourth from the left) are observing the braiding equipment that weaves carbon fiber around various shaped supports (cylindrical, square, etc.).

[Asia Economy Reporter Hwang Yoon-joo] Hyosung is recognized as a leading company in promoting the adoption of eco-friendly vehicles by entering the 'hydrogen refueling' business ahead of the hydrogen car era.

Hyosung is contributing to the establishment of hydrogen car infrastructure through its hydrogen refueling station business, based on the technology and know-how accumulated from its compressed natural gas (CNG) refueling system business. The company is promoting a total solution business covering everything from material supply and production to construction for hydrogen refueling stations, currently holding the number one market share (about 30%) in the hydrogen refueling station system market.

Hyosung's hydrogen refueling stations are well known for their small installation area and excellent durability. Additionally, through in-house technology development, the company has succeeded in domestic production of chargers, cooling systems, and compression packages, enabling rapid after-sales service (A/S) and equipped with a real-time safety management system.

Alongside this, Hyosung has contributed to advancing the hydrogen car era by successfully developing and commercializing carbon fiber. In 2011, after more than four years of research, Hyosung became the first in Korea to develop carbon fiber based on proprietary technology, becoming the fourth country to do so after Japan, Germany, and the United States. Carbon fiber is called a 'dream new material' because it weighs only one-quarter of steel but has ten times the strength and seven times the elasticity. It also boasts excellent corrosion resistance, conductivity, and heat resistance, making it applicable to all products and industries where steel is used.

Carbon fiber is mainly used in the production of high-pressure vessels such as hydrogen fuel tanks, which are key components of hydrogen electric vehicles and CNG (compressed natural gas) vehicles, both recognized as future eco-friendly cars. It can also be applied to aircraft fuselages, automobile bodies, and interior and exterior materials, making it an eco-friendly material that can improve fuel efficiency and reduce CO2 emissions by lightening transportation means. It is considered a core material in the hydrogen economy era with limitless potential for downstream industry expansion.

Hyosung has invested 320 billion KRW in carbon fiber research and production facilities to date. In August last year, the company held a 'carbon fiber new investment agreement ceremony' at its Jeonju carbon fiber plant and plans to invest a total of 1 trillion KRW in facility construction and research and development by 2028 to enter the global top three in the carbon fiber field.

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