Hyosung Group Contributes 10 Billion KRW to Win-Win Cooperation Between Large and Small-Medium Enterprises in Rural Farming and Fishing Communities

[Asia Economy Reporter Oh Hyung-gil] Hyosung Group will contribute 10 billion KRW to the Large and Small Business and Rural Win-Win Cooperation Fund.

On the 17th, at the Hyosung headquarters in Gongdeok-dong, Kim Gyu-myeong, CEO of Hyosung (left), and Kim Young-hwan, Secretary General of the Daejung-Small and Medium Enterprise Agriculture and Fisheries Cooperation Foundation (right), signed an agreement to contribute to the Daejung-SME Win-Win Cooperation Fund and the Rural Win-Win Cooperation Fund.

On the 17th, Hyosung signed an agreement with the Foundation for Large and Small Business and Agricultural Cooperation to contribute to the Large and Small Business Win-Win Cooperation Fund and the Rural Win-Win Cooperation Fund.

This fund is a private fund contributed by companies to the cooperation foundation to promote win-win cooperation with small and medium-sized enterprises and rural areas. Five companies, Hyosung Corporation, Hyosung TNC Corporation, Hyosung Heavy Industries Corporation, Hyosung Advanced Materials Corporation, and Hyosung Chemical Corporation, participated in the contribution.

Hyosung will use the Large and Small Business Win-Win Cooperation Fund to support partner companies in reducing energy consumption and obtaining eco-friendly certifications such as carbon labeling, thereby assisting supply chain ESG (Environmental, Social, and Governance) management.

To strengthen partner companies' safety and quality capabilities, it supports safety equipment such as body cams and airbag vests, as well as remote inspection facilities. It also supports small and medium-sized enterprises and startups discovered through open innovation by providing flagship stores and developing eco-friendly materials recycled from PET bottles and waste fishing nets.

Through the Rural Win-Win Cooperation Fund, Hyosung supports products applying eco-friendly technologies in rural areas, such as clothing using its own brand Re:gen, a recycled yarn, and agricultural product dryers made from carbon fiber, a high-efficiency heating element. It also conducts activities to manage Zalpiseup (seagrass forests) to preserve marine biodiversity. Additionally, it promotes regional economic revitalization and stakeholder communication through purchasing local products and building educational facilities.

Chairman Cho Hyun-joon emphasized, "We must establish an eco-friendly management system and strengthen co-growth with partner companies and social contribution activities."

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