Chairman Jo Hyun-joon's 'Green Revolution'

Presenting a Business Model for Product Materials That Can Realize Eco-Friendly Values

[Asia Economy Reporter So-yeon Park] 'The key to making your company greener.' 'Textiles evolving to meet demand for sustainable materials.'

These are articles that Hyosung Group Chairman Cho Hyun-joon (photo) has recently been reading attentively in English journals such as Pocheon and The Washington Times. Articles covering the impact of eco-friendly management on company finances and how leading global brands are switching to eco-friendly raw materials in response to consumer demand align with Chairman Cho's 'GREEN' management philosophy. In particular, he proposes eco-friendliness as a survival strategy in the uncertain business environment following the COVID-19 pandemic and urges the expansion of products, materials, and business models that can realize eco-friendly values. A Hyosung Group official explained, "The fact that the head of the group recently chose 'green' as a keyword is not just an abstract concept for sustainability and social contribution," adding, "It is an urgent and powerful direction to enhance corporate survival and future value."

By affiliate, Hyosung Chemical is putting all its efforts into developing and utilizing eco-friendly materials. Recently, the company's focus has been on developing new markets for 'polyketone,' an eco-friendly plastic developed by Hyosung for the first time in the world. Polyketone, made using carbon monoxide?a major air pollutant?as a raw material, has excellent physical properties such as impact resistance and chemical resistance, and is applied in various fields including daily household goods, automobiles, and electrical and electronic sectors. Hyosung Chemical plans to expand its application to water meters, electric meters, and more to increase market size.

Hyosung Chemical Expands Its First-Ever Developed Eco-Friendly Plastic 'Polyketone'
Hyosung TNC Successfully Develops High-Strength Nylon Yarn for Global Market
Carbon Fiber Plant to Build the World's Largest Liquefied Hydrogen Plant

Hyosung TNC has succeeded in developing eco-friendly high-strength nylon yarn and is supplying it to globally renowned brands. Hyosung is expanding its global eco-friendly market presence by supplying eco-friendly textile materials to 'OSPREY,' the world's number one outdoor backpack brand. The eco-friendly fiber 'Mipan Regen Robic' supplied by Hyosung is the world's first eco-friendly high-strength nylon yarn brand. It is made by recycling by-products generated during textile production. It is lightweight and highly abrasion-resistant, making it suitable for outdoor products, and reduces greenhouse gas emissions by about 6 to 7 kg for every 1 kg produced. Last year, Hyosung launched 'Creora Regen,' a recycled spandex made from 100% recycled waste, and in April, introduced 'Regen Jeju,' a polyester yarn made by recycling PET bottles discarded in Jeju Island.

Hyosung TNC is recognized as an eco-friendly yarn manufacturer that recycles polyester, nylon, and spandex. Hyosung is also focusing on carbon fiber and liquefied hydrogen supply. The company has announced plans to build the world's largest liquefied hydrogen plant, aligning with the government's Green New Deal policy. Together with Linde Group, a global chemical company specializing in industrial gases, Hyosung plans to invest 300 billion KRW by 2022 to establish a value chain encompassing liquefied hydrogen production, transportation, and installation and operation of charging facilities. The plan to invest about 1 trillion KRW by 2028 to produce 24,000 tons of carbon fiber annually at the Jeonju carbon fiber plant is also progressing smoothly. Meanwhile, Hyosung Corporation announced yesterday that it has selected the consortium of ST Leaders Private Equity and Saemaeul Geumgo Central Association as the preferred bidder for the sale of Hyosung Capital shares. Industry insiders estimate the sale price to be in the high 300 billion KRW range. Upon completion of the Hyosung Capital sale, the restructuring of Hyosung Group's holding company governance system will be finalized.

This content was produced with the assistance of AI translation services.