Various stories of activities brought to you by Hyosung Heavy Industries
□ Ceremony held at Yongyeon, Ulsan, for the “Declaration of the Vision of Hydrogen Business and Breaking Ground for Liquid Hydrogen Plant'Hyosung Heavy Industries Co., the leader in the domestic hydrogen charging system market, and Linde, a global gas and chemical company, held a ceremony for declaring a hydrogen business vision and breaking ground for a liquid hydrogen plant at Hyosung Chemical’s plant in Yongyeon, Ulsan, on June.The event was attended by Hyosung Chairman Cho Hyun-joon, Linde Korea Chairman Sung Baek-seok, Ulsan Mayor Song Chul-ho, Vice Minister of Trade, Industry and Energy Park Jin-kyu, and Hyosung Vice Chairman Cho Hyun-sang and Lee Sang-woon.In the ceremony, Hyosung and Linde declared their vision of “building a carbon neutral Korea with hydrogen application technology.” Three tasks have been set to attain the vision – expansion of R&D to ensure stability, reliability and economic feasibility of hydrogen production and charging facilities, development of technology to extract blue and green hydrogen that do not emit CO2 and localization of facilities, and establishment of infrastructure for building the base for carbon neutral hydrogen business and development of technology to reduce CO2.□ Chairman Cho Hyun-joon: "Hydrogen is the base for the energy revolution, and Hyosung will lead the paradigm shift.”Chairman Cho said, "Hydrogen energy is the base of the energy revolution that will change the future of mankind, and Hyosung will lead the paradigm shift to hydrogen energy by continuing to make investment.” “I’m filled with fresh emotions as we open 100-year Hyosung’s new chapter here in Ulsan where the company’s history started," he said. Sung Baek-seok, chairman of Linde Korea, said, "Hydrogen is a driving force for the transition to a low-carbon economy." "Linde and Hyosung will combine their capabilities and technologies and build the all-important hydrogen infrastructure safely," Sung said.□ Hyosung Heavy Industries to invest 1 trillion won over the next 5 yearsLinde Hydrogen Energy Co., Ltd., a joint production venture of Hyosung and Linde, will build a 13,000-ton liquid hydrogen plant at Hyosung Chemical's Yongyeon plant. It will begin operation in May 2023.In addition, Hyosung Heavy Industries will invest 1 trillion won over the next five years to increase its liquid hydrogen production capacity to 39,000 tons.Hyosung Hydrogen Co., Ltd., the joint venture for sales, will establish liquid hydrogen charging infrastructure in time for the completion of the liquid hydrogen plant. It will start with the construction of the nation's first liquid hydrogen charging station in Ulsan, and build large liquid hydrogen charging stations in about 30 locations nationwide in line with the government policy to supply large commercial hydrogen vehicles.□ Development of technology for blue and green hydrogen and CO2 reduction to contribute to dropping domestic carbon emissions by 10 percentThrough technological cooperation with Linde, Hyosung will seek to localize the liquid hydrogen charging technology and facilities based on Linde's Cryo Pump Technology by 2024.Hyosung will also make R&D investment to develop technology to extract blue and green hydrogen that do not emit carbon dioxide by 2025, and establish green hydrogen production line using renewable energy such as wind and solar power.Besides production of green hydrogen, the two companies agreed to develop and demonstrate CO2 reduction technology as they set the goal of contributing to the plan to reduce domestic CO2 emissions by 10 percent by developing various application technologies including the carbon capture and utilization (CCU) technology. □ Hyosung, Linde, Ulsan sign MOU on construction of large liquid hydrogen charging stationsHyosung and Linde signed a memorandum of understanding (MOU) with Ulsan City to cooperate in building large commercial liquid hydrogen charging stations. Hyosung built the nation’s first hydrogen charging station at Hyundai Motor's Namyang R&D Center in Hwaseong, Gyeonggi Province, in 2008, and it has so far built hydrogen charging system in 18 locations nationwide, including the National Assembly and the Sejong Government Complex.Hyosung is also stepping up its efforts to vitalize hydrogen mobility economy as seen by the plan of Hyosung Advanced Materials to invest 1 trillion won by 2028 to increase production of carbon fiber, which is used as a key material for fuel tanks in hydrogen cars, to 24,000 tons per year.Linde, a global leader in hydrogen production, processing, storage and distribution, has the world's largest liquid hydrogen production capacity and transportation system. It also operates the world's first high-purity hydrogen underground storage and provides stable supply to customers using pipelines which stretch to 1,000 kilometers. Linde, which is spearheading the transition to clean hydrogen, has set up nearly 200 hydrogen fuel stations and 80 hydrogen electrolysis plants worldwide. It is also providing the latest electrolysis technology through its joint venture ITM Linde Electrolysis GmbH.
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Hyosung said on August 25 that it will be donating 70 million won to the Jongno Women's Human Resources Development Center in Jongno-gu, Seoul, to support employment promotion programs for vulnerable women who have difficulty finding jobs again, including career-interrupted women and middle-aged women.Hyosung has been assisting training programs for social welfare workers, child care teachers, and ERP logistics office managers at the Jongno Women's Human Resources Development Center every year since 2013. About 240 women have landed jobs through the programs supported by Hyosung.This year, about 30 people will participate in training programs for child care teachers and care workers for three months from August. After completion of the programs, Hyosung and the Center will fully support their job hunting by providing them regular job counseling, job information, and arrangement of jobs. A Hyosung official said, "I hope our donation could be of whatever little help to those who participate in the job promotion program for the vulnerable women who have difficulty finding reemployment all the more because of the COVID-19 pandemic."Under the slogan of a ‘company helping beneficiaries develop their future on their own by providing education and sharing,’ Hyosung has been operating various social programs to assist job creation and social life for the vulnerable, including support for disabled artists' activities and exhibitions, and improvement of facilities at workplaces for the heavily disabled.
□ Ceremony held at Yongyeon, Ulsan, for the “Declaration of the Vision of Hydrogen Business and Breaking Ground for Liquid Hydrogen Plant'Hyosung Heavy Industries Co., the leader in the domestic hydrogen charging system market, and Linde, a global gas and chemical company, held a ceremony for declaring a hydrogen business vision and breaking ground for a liquid hydrogen plant at Hyosung Chemical’s plant in Yongyeon, Ulsan, on June.The event was attended by Hyosung Chairman Cho Hyun-joon, Linde Korea Chairman Sung Baek-seok, Ulsan Mayor Song Chul-ho, Vice Minister of Trade, Industry and Energy Park Jin-kyu, and Hyosung Vice Chairman Cho Hyun-sang and Lee Sang-woon.In the ceremony, Hyosung and Linde declared their vision of “building a carbon neutral Korea with hydrogen application technology.” Three tasks have been set to attain the vision – expansion of R&D to ensure stability, reliability and economic feasibility of hydrogen production and charging facilities, development of technology to extract blue and green hydrogen that do not emit CO2 and localization of facilities, and establishment of infrastructure for building the base for carbon neutral hydrogen business and development of technology to reduce CO2.□ Chairman Cho Hyun-joon: "Hydrogen is the base for the energy revolution, and Hyosung will lead the paradigm shift.”Chairman Cho said, "Hydrogen energy is the base of the energy revolution that will change the future of mankind, and Hyosung will lead the paradigm shift to hydrogen energy by continuing to make investment.” “I’m filled with fresh emotions as we open 100-year Hyosung’s new chapter here in Ulsan where the company’s history started," he said. Sung Baek-seok, chairman of Linde Korea, said, "Hydrogen is a driving force for the transition to a low-carbon economy." "Linde and Hyosung will combine their capabilities and technologies and build the all-important hydrogen infrastructure safely," Sung said.□ Hyosung Heavy Industries to invest 1 trillion won over the next 5 yearsLinde Hydrogen Energy Co., Ltd., a joint production venture of Hyosung and Linde, will build a 13,000-ton liquid hydrogen plant at Hyosung Chemical's Yongyeon plant. It will begin operation in May 2023.In addition, Hyosung Heavy Industries will invest 1 trillion won over the next five years to increase its liquid hydrogen production capacity to 39,000 tons.Hyosung Hydrogen Co., Ltd., the joint venture for sales, will establish liquid hydrogen charging infrastructure in time for the completion of the liquid hydrogen plant. It will start with the construction of the nation's first liquid hydrogen charging station in Ulsan, and build large liquid hydrogen charging stations in about 30 locations nationwide in line with the government policy to supply large commercial hydrogen vehicles.□ Development of technology for blue and green hydrogen and CO2 reduction to contribute to dropping domestic carbon emissions by 10 percentThrough technological cooperation with Linde, Hyosung will seek to localize the liquid hydrogen charging technology and facilities based on Linde's Cryo Pump Technology by 2024.Hyosung will also make R&D investment to develop technology to extract blue and green hydrogen that do not emit carbon dioxide by 2025, and establish green hydrogen production line using renewable energy such as wind and solar power.Besides production of green hydrogen, the two companies agreed to develop and demonstrate CO2 reduction technology as they set the goal of contributing to the plan to reduce domestic CO2 emissions by 10 percent by developing various application technologies including the carbon capture and utilization (CCU) technology. □ Hyosung, Linde, Ulsan sign MOU on construction of large liquid hydrogen charging stationsHyosung and Linde signed a memorandum of understanding (MOU) with Ulsan City to cooperate in building large commercial liquid hydrogen charging stations. Hyosung built the nation’s first hydrogen charging station at Hyundai Motor's Namyang R&D Center in Hwaseong, Gyeonggi Province, in 2008, and it has so far built hydrogen charging system in 18 locations nationwide, including the National Assembly and the Sejong Government Complex.Hyosung is also stepping up its efforts to vitalize hydrogen mobility economy as seen by the plan of Hyosung Advanced Materials to invest 1 trillion won by 2028 to increase production of carbon fiber, which is used as a key material for fuel tanks in hydrogen cars, to 24,000 tons per year.Linde, a global leader in hydrogen production, processing, storage and distribution, has the world's largest liquid hydrogen production capacity and transportation system. It also operates the world's first high-purity hydrogen underground storage and provides stable supply to customers using pipelines which stretch to 1,000 kilometers. Linde, which is spearheading the transition to clean hydrogen, has set up nearly 200 hydrogen fuel stations and 80 hydrogen electrolysis plants worldwide. It is also providing the latest electrolysis technology through its joint venture ITM Linde Electrolysis GmbH.
Hyosung is sponsoring the non-face-to-face support with AI caring robot project for elderly veterans' families through the Southern Seoul Veterans Affairs Office. On May 31, Hyosung delivered a donation of 40 million won to the Southern Seoul Veterans Affairs Office. This donation will be used for non-face-to-face customized care services for people of national merit and veterans' families. The program was created to support elderly veterans living alone who have limited face-to-face activities due to COVID-19.The AI caring robot will be delivered to veterans registered with the Southern Seoul Veterans Affairs Office. Deundeun and Bohun, the AI robots, will help the elderly living alone and veterans’ families with 24-hour life management, meals, medications, and reminders for hospital reservations. Moreover, they are equipped with safety management functions that can respond to an emergency with motion sensors considering the age of the people they are supporting.Hyosung has been carrying out patriotic and social contribution programs, such as “Exploring the historical treasures” and “Delivery of living necessities” for veterans and people of national merit for four years since 2017. On May 4, the company provided non-face-to-face oral health education, customized preventive healthcare education, and support for dental treatment expenses for the children with developmental disabilities at Purme Foundation’s Nexon Children’s Rehabilitation Hospital as part of its social contribution activities for neighbors suffering from the COVID-19 pandemic.
Hyosung has launched the ESG Management Committee, setting into motion efforts to establish a sustainable management system that would help make the group a 100-year company □ Transparent Management Committee under the Board of Directors reorganized into ESG Management CommitteeHyosung Corporation, holding company of the Hyosung Group, announced that it held a board meeting on April 29 to reorganize the Transparent Management Committee under the Board of Directors that had dealt with improvement of governance into the ESG Management Committee to strengthen ESG management in the fields of environment, society and governance. The establishment of the ESG Management Committee is aimed at proactively responding to demands from customers, society, and shareholders to ensure environmental protection and social safety nets.The ESG Management Committee will be responsible for ESG-related policy, risk strategies for ESG policy, and investment and activities on the environment, safety, and climate change, as well as deliberation of transactions between specially related persons and decisions of management matters to protect shareholders' rights which had been dealt with by the Transparent Management Committee.□ At least two-thirds of outside directors sit in the committee which will decide key ESG management-related issuesThe ESG Management Committee consists of five members -- CEO Kim Kyu-young and four outside directors (Chung Sang-myeung , Kim Myung-ja, Kwon O-gon, and Chung Dong-chae). Considering the importance of ESG, one outside director was added to the Transparent Management Committee which had had four members. Former Prosecutor General Chung Sang-myeung, outside director who headed the Transparent Management Committee, will continue to chair the new committee. In addition to the holding company, major affiliates such as Hyosung TNC, Hyosung Advanced Materials, Hyosung Heavy Industries, and Hyosung Chemical also plan to set up an ESG Management Committee under their respective CEOs in the first half of the year.Chairman Cho Hyun-joon said, "ESG management is an identity that Hyosung must have in order to make a leap toward becoming a premium brand in the global market. He expressed hope that "Hyosung will grow into a '100-year company’ loved and trusted by shareholders and society by protecting the environment and enhancing righteous and transparent management, and seeking growth together with partner companies."□ Hyosung leads ESG by establishing Transparent Management Committee and strengthening eco-friendly businessesHyosung Group split into a holding company and four business units in 2018 in order to improve its governance structure through enhancement of transparent management and establishment of an independent management system. The transition to the holding company system was completed at the end of last year.In 2018, Chairman Cho broke the practice of the CEO serving as chair of the board of directors and stepped down as chair of the board, paving the way for an outside director to serve as chairperson. He also established the Transparent Management Committee and strengthened the independence of outside directors by having an outside director chair the outside directors recommendation committee.Hyosung has been expanding eco-friendly energy businesses such as fiber recycling, hydrogen, solar, and ESS, and strengthening eco-friendly management by making efforts to reduce carbon dioxide emissions.
Hyosung is focusing its social contribution programs on making a barrier-free society, including support for rehabilitation of disabled artists and children.On April 22, Hyosung delivered donations to resident artists at the Seoul Art Space Jamsil of the Seoul Foundation for Arts and Culture. The Studio, which Hyosung has been sponsoring since 2018, is the only visual arts work space in the country for disabled artists. Hyosung's donations are used to purchase materials used by 12 disabled artists selected through public contest each year, exhibit their works, and make an archive.On the occasion of the fourth year of Hyosung’s sponsorship this year, the "Artist of the Year Together with Hyosung Award" was selected by citizens and Hyosung executives and employees. Han Seung-min, 27, who suffers from second-level autistic disorder, was named this year's Artist of the Year. An artist of Western painting, Han is working on translating his everyday experiences into images, and he is also participating in various art exhibitions and art fairs at home and abroad. The young artist possesses high artistic skills so his work is in collection at the Government Art Bank of the National Museum of Modern and Contemporary Art.An official from the Seoul Art Space Jamsil said, "The prolonged COVID-19 pandemic shrank cultural and artistic activities and caused concerns in the arts circle. I am happy that the resident artists here can lead a stable arts life thanks to the help of Hyosung."In December last year, Hyosung was recognized for its collaboration with the Seoul Art Space Jamsil, as it was selected as the "2020 Excellent Private-Public Cooperation Agency" by the Seoul Metropolitan Government and received the award from the Seoul mayor.In addition, Hyosung delivered 115 million won to the Purme Foundation, which supports rehabilitation and self-reliance of disabled people, for "medical rehabilitation and family support projects for disabled children." The project, which marks its 9th anniversary this year, is designed to provide rehabilitation treatment for disabled children and adolescents from low-income families, education and psychotherapy for non-disabled siblings, family trips accompanied by the families of Hyosung executives and employees, and little concerts for invited families.
Hyosung is supporting economic independence of 100 single mothers in Thang Binh District in Vietnam’s central province of Quang Nam.Hyosung said on March 18 that it held a ceremony to start the "Social Contribution Project to Support Vietnamese Single Mothers’ Self-reliance" in the conference room of the People's Committee of Thang Binh, where the Company’s Quang Nam unit is located. Hyosung, which works with the international relief organization ‘Food for the Hungry’ for the program, is contributing 100 million won to support economic Independence of single mothers in Vietnam.The project will benefit about 100 single mothers in the lowest- and second-lowest-income families in the Thang Binh District. The program, which will include education and facility support for poultry and pig farming, and delivery of livestock medical supplies, is expected to help the single mothers to secure sustainable income sources and develop self-reliance capacity.Hyosung prepared the social contribution project as a member of the local community. It is designed to help Hyosung play a proper role as a healthy member of the community by supporting the economic independence of low-income, single-mother families in the community. Hyosung has been actively undertaking social contribution programs in Vietnam, its largest overseas production base. As part of the programs, Hyosung has been dispatching overseas medical volunteer group "Misowonjeongdae" (smile expedition) to Dong Nai Province, near Ho Chi Minh City where its Vietnamese corporation is located.
