Hyosung

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This article is about Hyosung Corporation. For the motorcycle manufacturer, see S&T Motors.
Hyosung Corporation
Public
Traded as KRX: 004800
Industry Conglomerate
Founded 1966; 50 years ago (1966)
Headquarters 119, Mapo-daero, Mapo-gu, Seoul, South Korea
Key people
S. R. Cho
Revenue Increase US$ 17.0 billion (2015)[1]
Increase US$ 816  million (2015) [1]
Increase US$ (451)  million (2015) [1]
Total assets Increase US$ 12.0 billion (2015) [1]
Total equity Increase US$ 2.98 billion (2015) [1]
Number of employees
25,000 (as of January 2015)
Slogan "Always By Your Side"
Website http://www.hyosung.com
Hyosung
Hangul 효성그룹
Revised Romanization Hyoseong Geurup
McCune–Reischauer Hyosŏng Kŭrup

Hyosung Corporation is a South Korean industrial conglomerate, founded in 1966. 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]

2013. World's first polyketone developed and commercialized[need quotation to verify]; Product strategy award won for ESS project (Energy Storage System) at the 2013 Frost & Sullivan Korea Excellence Awards; Award for '2012 Global Preferred Supplier' won by Neochem PU; Industry Innovation Movement 3.0 joined with MOU signed for shared growth fund donation; Carbon fiber plant completed in Jeonju; Carbon fiber brand 'TANSOME' launched; Hyosung Harington Place sold by Construction PU and Chin Hung International after opening a model house in Chilgok and Okdong in North Gyeongsang Province[need quotation to verify]

2012. Selected as the 'charging system business' of Korea Electric Power Corporation's (KEPCO) EV sharing pilot project; Neochem PU won '2011 Global Most Improved Supplier' award from LINDE in Germany; Power & Industrial Systems PU R&D Center commercialized 1 kW dual cell stack for home fuel cells; Industrial Machinery PU signed an agreement with Korea Gas Safety Corporation to obtain IECEx and ATEX for 25 electric motor types; Packaging PU launched new beverages (including Del Monte Cold); Power & Industrial Systems PG signed a contract for electrical power grid construction in Qatar; Power & Industrial Systems PG delivered the first product of its solar inverter; Vietnam Smile Expedition won KPRA Korea PR Awards for its Global PR; Company newsletter <HYOSUNG> won 'Chairman's Prize of Korea Clean Contents National Movement Association' in Company Newsletter of '2012 Korea Communication Awards'; Tire & Industrial Reinforcement Materials PU completed construction of Thailand JV steel cord plant with SEI; Packaging PU produced Seoul Dairy Cooperative's new Dotoru products; Nautilus Hyosung won the '2012 Red Dot Design Award'[need quotation to verify]

2011. Gwanghyewon factory introduces PS Call-based quality control system; Power & Industrial Systems PG has signed an MOU with Electric Insulation Research Center, Seoan Traffic University for joint research and development; Tire & Industrial Reinforcements PU extends its MOU with Michelin for another 5-year’s supply; Gwanghyewon factory selected as Best Partner for Clients 2010; Three types of intelligent electronic devices for automation of digital transformation acquired IEC 61850 from KEMA, the Dutch-based international certificate authority; Nautilus Hyosung signs an MOU with SKT for ‘Smart Branch’; Donated 500 million won to “Bridge of Hope Korea Disaster Relief Association” for the flood damage recovery; Developing the country’s first Carbon Fiber; Built spandex plant in Brazil[need quotation to verify]

2010. Received Tower of Exports Order for $4 Billion in exports(The 47th Annual Trade Day); Built steel cord plant in Vietnam Signed agreement to build spandex plant in Brazil; Signed contract to build electrical power grid in Qatar; Launched transformer substation construction project in Algeria; Supplied 50MVA STACOM to KEPCO for the first time in Korea; Hyosung EBARA Engineering launches sewage treatment business in Algeria; Participated in 2010 Shanghai Expo; Hyosung R&D Business Labs received Awards for Creativity in Science and Technology and Honors from Vice-Minister of Education, Science and Technology for developing the country’s first TAC film

2009. Declared the Hyosung Way; Built aramid fiber plant; Built TAC film plant; Hyosung Capital merged with Star Lease Co., Ltd.; Established Hyosung Toyota; Signed MOU to build power generation and wind turbine plant with Korea Southern Power Co.; Received international certification for 750 kW gear-type wind turbine(DEWI-OCC, Germany); Xanadu polyester fibers selected as Next-Generation World-Class Product by Ministry of Commerce; High barrier gas multi-layer for PET beer bottles selected as Next-Generation World-Class Product by Ministry of Commerce; Hyosung R&DB Labs received Presidential Award for Merit of promotion of Science and Technology (Korea Industrial Technology Association)[need quotation to verify]

2008. Built spandex plant in Turkey and Vietnam; Acquired Chinhung International Inc.; Expanded ultra high voltage power facility Built tire cord plant in Vietnam; Built plant for Nantong Hyosung Transformer Co., Ltd. In China; Built Photovoltaic Power plant in Taean, Chuncheongnam-do[need quotation to verify]

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.[need quotation to verify]

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[need quotation to verify]

2005. Work for the nylon film plant in Jiaxing, China completed[need quotation to verify]

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[need quotation to verify]

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[need quotation to verify]

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.[need quotation to verify]

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

2000. Established the spandex plant in Gumi[need quotation to verify]

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

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[need quotation to verify]

1996. Established the nylon film plant in Daejeon[need quotation to verify]

1995. Established PET bottle company in China; established the tile carpet plant in Daejeon[need quotation to verify]

1990. Entered the spandex Business[need quotation to verify]

1989. Entered the PP and propylene business; established Hyosung EBARA Co., Ltd.[need quotation to verify]

1983. Developed a microfiber that combines Nylon and Polyester[need quotation to verify]

1979. Started producing PET bottles at the Eonyang Plant[need quotation to verify]

1977. Established the heavy industry plant in Changwon[need quotation to verify]

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

1970. Acquired Hanil Nylon Co., Ltd.

1969. Developed Korea’s first 154kV high-voltage transformer

1968. Completed the Ulsan Plant

1967. Completed the tire cord plant in Ulsan

1966. Established Tongyang Nylon Co., Ltd.

Business & Subsidiaries[edit]

  • Textile PG
    • Nylon Polyester Fiber PU
    • Spandex PU
    • Fabric/Dyeing PU
  • Industrial Materials PG
    • Tire & Industrial Reinforcements PU
    • [echnical Yarn PU
    • Interior PU
    • Aramid Business Division
  • Chemicals PG
    • PP/DH PU
    • Packaging PU
    • TPA PU
    • Film PU
    • Neochem PU
    • Optical films Business Division
  • Hyosung Power & Industrial Systems PG
    • Power Systems PU
    • Industrial Machinery PU
    • Hyosung Good Springs PU
    • Wind Energy Business Division
  • Construction PG
    • Construction PU
    • Hyosung EBARA Engineering PU
    • Chinhung International Inc.
  • Trading PG
    • Steel & Metal Products PU I
    • Steel & Metal Products PU II
    • Chemical Products PU
    • Trans-World PU
  • Information and Communication PG
    • Nautilus Hyosung PU
    • Hyosung Information Systems PU
    • Hyosung ITX Co., Ltd.
    • Galaxia SM, Inc. joint venture with S.M. Entertainment
      • IB Medianet
  • Other affiliated companies
    • Hyosung Capital PU
    • The Class Hyosung Co., Ltd.
    • Hyosung Toyota Corporation
    • Galaxia Photonics Co., Ltd.
    • Galaxia Electronics Co., Ltd.
    • Galaxia Communications Co., Ltd.

See also[edit]

References[edit]

  1. ^ a b c d e "hyosung corporation (004800:Korea SE)". businessweek.com. Retrieved September 1, 2014.