Hyosung Contributes Record 16 Billion Won to Win-Win Cooperation Fund

Strengthening Partner Productivity and Safety Capabilities
Cumulative Contributions Surpass 40 Billion Won

Hyosung has contributed the largest-ever win-win cooperation fund in its history to promote mutual growth with its partners and local communities.

On the 4th, Hyosung signed a business agreement for mutual growth cooperation in the fields of large, small and medium-sized enterprises, and agriculture and fisheries at Hyosung headquarters in Gongdeok-dong, attended by Yoonon Hwang, CEO of Hyosung (left), and Taeseop Byun, Secretary General of the Foundation for Cooperation Between Large, Small and Medium Enterprises and Agriculture and Fisheries (right). Provided by Hyosung

On March 4, Hyosung announced that it signed a "Business Agreement for Win-Win Cooperation in the Areas of Large, Small and Medium Enterprises and Agriculture and Fisheries" with the Foundation for Cooperation between Large, Small and Medium Enterprises and Agriculture and Fisheries at its Mapo headquarters in Seoul.

The signing ceremony was attended by Yoonon Hwang, CEO of Hyosung, and Taesub Byun, Secretary General of the Foundation for Cooperation between Large, Small and Medium Enterprises and Agriculture and Fisheries. Four companies participated in the agreement: Hyosung, Hyosung TNC, Hyosung Heavy Industries, and Hyosung Chemical.

Through this agreement, Hyosung contributed 16 billion won to the win-win cooperation fund for large, small and medium enterprises and rural communities. This is the largest amount Hyosung has ever contributed to the win-win cooperation fund. As a result of this contribution, the cumulative scale of Hyosung's win-win cooperation fund has surpassed 40 billion won.

Hyosung has identified strengthening the competitiveness of its partners and enhancing their safety and ESG capabilities as key priorities, and plans to systematically promote win-win activities through a three-year mid-to-long-term plan. Since 2013, Hyosung has contributed to the win-win cooperation fund every year, expanding the foundation for mutual growth with its partners.

The win-win cooperation fund will be used to support facilities that improve the productivity of partners, appoint safety managers, and provide safety equipment, thereby strengthening the safety management capabilities of partners.

In addition, from an ESG perspective, support will be expanded not only to partners but also to non-partner companies. Biodiversity conservation activities, such as programs for the restoration of endangered insects, will also be promoted.

In the agricultural and fishing sectors, Hyosung will support the revitalization of local economies by promoting the consumption of regional specialty products and supporting citizen-participatory festivals. At the same time, the company plans to provide products that utilize eco-friendly technologies to rural areas.

Yoonon Hwang, CEO of Hyosung, said, "Hyosung has established a win-win system where small and medium enterprises and local communities can grow together," adding, "We will continue to expand a variety of activities for mutual growth going forward."

In 2023, Hyosung established a Win-Win Management Review Committee within the group to systematically promote win-win management activities. The company is also conducting biodiversity conservation activities, such as the creation of Zostera marina beds, protection of winter migratory birds, and forest restoration in the DMZ area. In addition, Hyosung is continuing to foster mutual growth with local communities by providing environmental education using recycled products to local elementary schools.

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