Various stories of activities brought to you by Hyosung Heavy Industries
Following the chairman Cho Hyun-joon′s decision to develop the Honam region into the business group′s outpost for future business, Hyosung has started to construct a large-scale advanced materials production plant in Jeollabuk-do and pledged to build core infrastructure for the green energy industry in Jeollanam-do. □ Chairman Cho Hyun-joon: ″We will create a green energy mecca by mobilizing all our business capabilities.″On January 24th, Chairman Cho signed an MOU with Jeollanam-do to ′foster the green hydrogen industry′ in the province.Under the agreement, Chairman Cho will take the lead in creating jobs for about 300,000 people and producing 200,000 tons of green hydrogen through offshore wind power generation in and around Sinan-gun in collaboration with Jeollanam-do. The signing ceremony was attended by Hyosung Chairman Cho Hyun-joon and Vice Chairman Lee Sang-woon and Jeollanam-do Governor Kim Yung-rok and Kim Shin-nam, director of the Bureau of Economy and Energy of the province. Chairman Cho said, "We will mobilize all of our group′s technology and expertise that we have accumulated over the years in the fields of hydrogen business, heavy electric equipment, and new and renewable energy in order to help create an offshore wind power generation complex in Jeollanam-do successfully. We will contribute to making Jeonnam a mecca for the green energy industry in Korea.″Governor Kim Yung-rok said, ″I highly appreciate Hyosung′s strong commitment to the hydrogen industry,″ noting, ″We will work together to realize the vision of Jeollanam-do to become a green hydrogen mecca based on its large-scale offshore wind power generation while empowering Hyosung to become a global top-tier company in the hydrogen life cycle at the same time.″ □ ″To produce 200,000 tons of green hydrogen using renewable energy such as wind power″Hyosung is planning to invest a total of KRW 1 trillion in the production of green hydrogen using renewable energy in the mid- to long-term based on a water electrolysis method that produces clean green hydrogen by electrolyzing water with electricity generated from wind power off the coast of Jeollanam-do.To this end, Hyosung will kick off a project to build a 10MW-class water electrolysis facility, the largest in Korea, in 2022. The company is planning to expand its production of green hydrogen to a maximum of 200,000 tons per year.Hyosung is aiming to supply its green hydrogen to major industrial complexes in the Seoul Metropolitan Area, Ulsan, Changwon, and Busan, with some of the clean energy exported to a few foreign countries including Japan.To facilitate the storage and utilization of green hydrogen, Hyosung has decided to build two liquid hydrogen plants with an annual capacity of 10,000 tons and install liquid hydrogen charging stations in nine major areas across Jeollanam-do. The company is also planning to promote the complete vertical integration of the green hydrogen industry by conducting the shipping of liquid hydrogen on its own. In addition, Hyosung is preparing to promote the production and utilization of blue hydrogen by applying the CCUS (Carbon Capture Utilization and Storage) technology to by-product hydrogen generated from industrial complexes in Jeollanam-do.It is estimated that Hyosung will be able to create about 110,000 jobs by 2031 from its full-force production of green hydrogen in Jeollanam-do, serving as a catalyst for economic revitalization in the entire Honam region which includes Jeollabuk-do. □ Jeollanam-do to build wind power generation facilities equivalent to 25 nuclear power plantsHyosung has decided to actively participate in renewable energy projects such as wind power to generate electricity for green hydrogen production facilities.With President Moon Jae-in in attendance, Jeollanam-do announced last February that it would build the world′s largest 8.2GW offshore wind farm in Sinan by 2030 in addition to a 5GW offshore wind power generation complex that will be built in eastern Jeollanam-do centered on Yeosu, making the province a leader in the country′s transition to decarbonization and green energy.For the creation of offshore wind power complexes in Sinan and Yeosu, .Jeollanam-do is promoting the construction of wind power assembly plants, docks and ports as well as transmission and distribution infrastructure, expecting to create about 200,000 jobs by 2030 in the process alone. The total scale of offshore wind farms in Jeollanam-do is 25GW, with the wind farms to be built along a 300-kilometer coastline from Yeonggwang to Yeosu via Sinan being equivalent to 25 nuclear power plants in terms of power generation capacity.Jeollanam-do plans to build separate industrial complexes devoted to the nurturing of upstream and downstream offshore wind power industries in the Mokpo Daeyang Industrial Complex, Yeongam Daebul Industrial Complex, and Sinan Aphae Industrial Complex. The province is also planning to develop a hinterland complex over the land of about 520,000m2 in Mokpo New Port which will serve as a hydrogen industrial cluster that can meet all the needs of its offshore wind power generation. □ Hyosung to build an offshore wind power assembly plantIn line with Jeollanam-do′s offshore wind power generation plan, Hyosung will kick off the construction of an offshore wind power assembly plant in Jeollanam-do by 2023. Hyosung Heavy Industries is getting ready to establish a joint venture with the third largest company in the global offshore wind turbine market in 2022 while promoting to acquire KS certification for its 10MW class offshore wind turbine to be produced in Korea.It also actively participates in various power grid construction projects required for offshore wind power generation. For the power grid construction project worth around KRW 19 trillion won, Hyosung expects to supply HVDC (high-voltage direct current) systems tailored to increase the transmission efficiency of new and renewable energy as well as various transmission and distribution power equipment such as ultra-high voltage transformers and circuit breakers Hyosung also anticipates that it will be in a position to supply a large volume of STATCOM (Static Synchronous Compensator) and ESS (Energy Storage System) required to supply and store electricity generated by offshore wind farms and solar farms in a stable manner. □ To invest KRW 1 trillion in Jeollabuk-do to build a production base for advanced materials such as carbon fibersIn 2019, Chairman Cho announced a plan to invest a total of KRW 1 trillion to build the world′s largest carbon fiber plant with an annual capacity of 24,000 tons in Jeonju, Jeollabuk-do by 2028. Hyosung succeeded in developing carbon fibers with its own technology for the first time in Korea and has produced carbon fibers in Jeonju since 2013. Through the production facility expansion of the plant made twice, Hyosung will be equipped with the annual carbon fiber production capacity of 6,500 tons by July this year. As carbon fiber is ten times stronger than iron but weighs only a quarter, it is called the rice of the future industry. Recently, it is used as an essential material for hydrogen fuel tanks, drawing attention as a high-tech material that will accelerate the transition to a hydrogen economy.
A total of 108 articles have been added for reading.
Hyosung personnel paid a visit to 1st Corps (Gwangaeto Corps) of the ROK Army on June 8 and delivered solatium worth 44 million won.Said solatium will be spent for the troops’ welfare. Back in 2010, Hyosung forged sisterly ties with said corps defending the north of the Seoul area and the western front. Since then, those from Hyosung have paid a visit to said corps every year, delivering solatium and providing a reading café as well as sports items and laundry machines for the troops.Meanwhile, Hyosung employees engaged in voluntary activities of cleaning the graveyards of the Seoul National Cemetery on May 25 ahead of June as the Memorial Month. This month, Hyosung, along with the Seoul Nambu Branch of the Ministry of Patriots and Veterans Affairs, plans to deliver “Daily Necessities of Love” to the bereaved families of veterans living in poverty.
Hyosung Heavy Industries has succeeded in the commercialization of LPIT (Low-Power Instrument Transformer) and MU (Merging Unit) for digital GIS (Gas Insulated Switchgear), the first of its kind ever introduced in the country.Hyosung Heavy Industries-made LPIT and MU have passed the IEC (International Electrotechnical Commission)-based international certification test. Said development has significance in terms of its effect of replacing existing imported goods and enhancing the company’s technological competitiveness through the in-house production of digital breakers in keeping with the global trend for digital substation and intelligent power transmission/distribution infrastructure. The markets for LPIT and MU, which are core goods for the establishment of IEC 61850-9-2-based full digital substation, have been dominated by global businesses. LPIT made by Hyosung Heavy Industries is a product that uses all-in-one voltage/current sensors within the GIS module, and it has the following advantages compared to the existing iron-core current transformers: △ high level of precision; △ reduction of volume and SF6 gas amount by 60%; △ economization of the quantity of control cable and tray through digitalization of data communication infrastructure; △ easy application of new technologies such as preventive diagnosis and asset management system; and △ effect of reducing the required space through the reduction of control/protection panel.Depending on the GIS design conditions, customers may select the shape (module/space type) of LPIT products and add diverse functions like protection/control to MU. Hyosung Heavy Industries plans to cope with customers’ diverse demands proactively by applying same technology to power facility sectors like eco-switchgear and transformers. Following the achievement of the feat of producing LPIT and MU on its own, Hyosung Heavy Industries signed a contract for the supply of 132kV digital GIS with Landsnet of Iceland; thus laying the groundwork for making forays into the European market for full digital substations. “We intend to make forays into the global power supply market by continuing to develop the relevant technologies and increase investment in preparation for the power supply market at home and abroad, which is changing based on the eco-friendly/digital trend,” a Hyosung Heavy Industries official said.
Hyosung provided the Mapo Scholarship Foundation with 20 million won in scholarship fund for youths from less privileged households in Mapo-gu, Seoul on May 17.Hyosung has provided a total of 160 million won in scholarship fund for youths in Mapo-gu since 2015. The support fund will be distributed to students with good school records and talents in entertainment/sports selected by said foundation. Hyosung also engages in social contribution activities under the motto “We will share what we have,” including the following: support provided to the Purme Foundation’s program designed to help disabled children going through rehabilitation programs; and presentation of a truck for carrying goods to be donated to needy people to the Eunpyeong Branch of Goodwill Store in Seoul.
CEOs of the Hyosung Group announced on April 28 their commitment to ESG management at the 19th CEOs Ethical Management Oath Ceremony held at Finland Tower in Seodaemun-gu, Seoul, hosted by the BEST ESG Forum. At said ceremony, the CEOs of five affiliates—Hyosung Corporation as the holding company, Hyosung TNC, Hyosung Advanced Materials, Hyosung Heavy Industries, and Hyosung Chemical—renewed their resolve to do their best to place priority on the following: ▲putting carbon neutrality into practice; ▲working together for the realization of social values; ▲ working together to spread the ESG culture throughout the industries; and ▲building a better society and a better environment for the future generation. ″Ethical management is not a matter of choice, and we all should set it as the basis of corporate management. I′ll lead others in the realization of SDGs through ESG management,″ Hyosung CEO & Vice Chair Kim Kyoo-young vowed. The Hyosung Group has consistently run programs for the voluntary observance of the rule of fair transactions as part of ethical management. Top managers have renewed their commitment to ethical management at every available opportunity including Ethical Management Oath of the CEOs, declaration of their willingness for voluntary observance of the rule of fair transactions, BIS summit anti-corruption oath, etc. The group has also come up with the code of ethics and guidelines for putting it into practice and held educational sessions for employees concerning ethical management and fair transactions. The BEST ESG Forum run by the Institute of Industrial Policy Studies (IPS) is a private forum launched in March 2003 to foster an ethical corporate culture in industries and spread ethical management. It holds said oath ceremony every year in an effort to have ESG management established as a solid culture. The accumulated number of those who have attended the ceremony comes to about 1,120 from 420 businesses. This year alone, 140-plus business people and those from social/academic organizations attended the ceremony.
Hyosung strives to help the disabled get back their beautiful smile through the dental service on wheels. On April 27, Hyosung donated KRW 20 million to a program designed to provide support for dental service on wheels for the disabled by paying a visit to Nexon Children′s Rehabilitation Hospital run by the Purme Foundation in Sangam-dong, Mapo-gu, Seoul. The donated fund is to be spent for dental service and oral health education on wheels. This year, Hyosung and the Purme Foundation will work together to provide said service for the 310-plus disabled at welfare facilities. Hyosung started to provide dental service on wheels such as this to the disabled in 2017. Hyosung engages in a variety of social contribution activities designed to help the disabled with rehabilitation. They include support for operation of barrier-free cinemas for the disabled and provision of support fund for Onnuri Sarang Chamber Orchestra, etc.
Hyosung donated KRW150 million for programs designed to help disabled children in their medical rehabilitation and provide support for their families run by the Purme Foundation on April 6. Hyosung′s relationship with Purme Foundation dates back to 2013, ten years ago. Hyosung′s donation is spent on a variety of rehabilitation treatments for disabled youths, education/psychological treatment of their non-disabled siblings, trips with families of Hyosung employees, concerts held with their families invited, etc. The donation provided by Hyosung this year will be spent on the rehabilitation treatment of 20 disabled youths and education/psychological treatment of their 25 non-disabled siblings, etc. Twenty families of the youths receiving support from the Purme Foundation will also be invited to accompany the families of Hyosung employees on family trips. By making such donation, Hyosung expects the following good results: restoration of mind and body of disabled youths; psychological stabilization of their non-disabled siblings; and expansion of opportunities for self-development. ″We will continue to provide support so there will be no gaps in the treatment of disabled youths and their families due to the prolonged COVID-19 situation,″ Hyosung Chairman Cho Hyun-joon said, commenting on the matter. Other things that Hyosung has done in connection with what is stated in the foregoing include the provision of support for the operation of barrier-free cinemas for the disabled and provision of support fund for replacing instruments of Onnuri Sarang Chamber Orchestra, etc.