Hyosung

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This article is about Hyosung Corporation. For the motorcycle manufacturer, see S&T Motors.
Hyosung Corporation
Type Public
Traded as KRX: 004800
Industry Conglomerate
Founded 1957
Headquarters Seoul, South Korea
Key people S. R. Cho and S. W. Lee
Revenue 9,600,102,298,247 KRW (2008)
Net income 118,487,463,511 KRW (2008)
Website http://www.hyosung.com
Hyosung
Hangul 효성그룹
Hanja 曉星그룹
Revised Romanization Hyoseong Geurup
McCune–Reischauer Hyosŏng Kŭrup

Hyosung Corporation is a Korean industrial conglomerate (chaebol),[1] founded in 1957. It operates in various fields, including the chemical industry, industrial machinery, IT, trade, and construction. It is known in Korea mostly for high-end apartments and automatic teller machines. Its CEO is S. R. Cho (조석래).

History[edit]

2011. 07/01 Hyosung Wire Luxembourg S.A., 8 route de Bissen L-7759 Roost, Luxembourg

2010. Completed a steel cord plant in Vietnam; established a plant in Brazil and made an MOU; exported gear boxes for wind power turbines to India's Ghodawat Energy Ltd; made a contract for the electric power business in Qatar

2009. Announced Hyosung Way; work for the Aramid Plant completed; work for the TAC film plant completed; StarLease Co., Ltd. and Hyosung Capital merged; obtained the international certification for the 2 MW/750 kW Wind power turbine system from DEWI-OCC; launched Hyosung Toyota; obtained the GRS for the eco-friendly recycle yarn

2008. Work for the Spandex Plant in Turkey completed; work for the spandex / tire cord plant in Vietnam completed; expanded the Nantong Hyosung Transformer Co., Ltd. factory in China; acquired Chinhung International, Inc.

2007. Acquired StarLease Co., Ltd; work for the NF3 factory completed; built facility for anti-bacterial filled PET bottles; construction of a #1 solar power system was completed; exceeded KRW 5 trillion in sales for Hyosung Co., Ltd.

2006. Contracted with Goodyear for the long-term supply of Tire Cords and Contracted to take over four Factories around the World; acquired an Agfa photo production facility in Germany; acquired the Nantong Hyosung Transformer Co., Ltd. in China; acquired Dongguk Trade's spandex factory in China

2005. Work for the nylon film plant in Jiaxing, China completed

2004. Completed work for the spandex plant in Zhuhai, China; completed work for the transformer plant in Baoding, China; completed work for the tire cord plant in Jiaxing, China; signed a supply contract for 750 kV switchgear with Northwest Street Power Grid Corp, China; expanded the nylon film facilities at the Gumi 1 factory

2003. The Class Hyosung was established, Hyosung Spandex (Guangdong) Co., Ltd was established in Guangdong Province, China; Hyosung Film (Jiaxing) Co., Ltd was established in Zhejiang Province, China

2002. Took over the Tire Cord Plant of Michelin in Scottsville, U.S.A.; Aerocool was selected as one of the world's best products.

2001. Adopted ERP; established the Spandex Plant in China; concluded a contract with Beijing Coca Cola for the long-term supply of PET bottles

2000. Established the spandex plant in Gumi

1999. Acquired Korean Trade (KT) marks for the Hyosung Computer, Ultra High Voltage GIS (Gas Insulated Switchgear), and Polyester Fiber (Aerocool)

1998. T&C, Trading Company, Life Industry, and Heavy Industry all merged into Hyosung Co., Ltd.; developed 800 kV GIS, a first in Korea, and only the 3rd time Globally

1996. Established the nylon film plant in Daejeon

1995. Established PET bottle company in China; established the tile carpet plant in Daejeon

1990. Entered the spandex Business

1989. Entered the PP and propylene business; established Hyosung EBARA Co., Ltd.

1983. Developed a microfiber that combines Nylon and Polyester

1979. Started producing PET bottles at the Eonyang Plant

1977. Established the heavy industry plant in Changwon

1975. Acquired Hanyoung Industries Co., Ltd. (formerly Hyosung Heavy Industry)

1973. Established Tongyang Polyester Co., Ltd.; established Tongyang Dyeing Co., Ltd.

1972. Exported tire cords to Southeast Asian countries for the first time

1971. Established R&DB Labs, a first in Korea

1968. Completed the Ulsan plant

1957. Hyosung Corporation founded

Business & Subsidiaries[edit]

See also[edit]

References[edit]

  1. ^ Kae H. Chung; Hak-chong Yi, Kyu Hyun Jung (1997). Korean management: global strategy and cultural transformation. Walter de Gruyter. p. 150. ISBN 978-3-11-014668-4. 

External links[edit]