Hyosung

This article is about Hyosung Corporation. For the motorcycle manufacturer, see KR Motors.
Hyosung Corporation
Public
Traded as KRX: 004800
Industry Conglomerate
Founded 1966 (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)
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

2013. World's first polyketone developed and commercialized; 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

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'

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

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)

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

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

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

See also

References

  1. 1 2 3 4 5 "hyosung corporation (004800:Korea SE)". businessweek.com. Retrieved September 1, 2014.
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