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History



Since its founding in 1957, Hyosung has grown into a sound Korean conglomerate with approximately 7,000 employees and annual sales over 4.50 trillion won. Currently 20 Performance Units compose 7 Performance Groups: Textile and Fiber PG, Chemical PG, Industrial PG, Information and Communication PG, and Trading Business PG.

With its base firmly anchored in textile and fiber business, Hyosung ventured out into the areas of manufacturing, heavy industry, construction, and trading in the 1960s and the 1970s. Since the 1980s, the Company concentrated on the diversification of businesses, resulting in an astonishing growth in the petrochemical and information & communication field, and has since evolved into a more efficient and sophisticated corporation.

A considerable part of Hyosung's products are intermediary industrial materials needed to manufacture finished goods. Therefore, from the very beginning, the Company has built a close working relationship with our suppliers and customers under the entrepreneurial spirit of pursuing co-prosperity based on sincerity and mutual trust.

Capitalizing on the overseas network spanning North America, Europe, Southeast Asia, and the Middle East, Hyosung now trades with over 150 countries. The hard-working employees of Hyosung can be found in every corner of the world, always "close and personal" with our customers.


History

2000's
2004 : Mipan Nano-MagicSilver was developed.
Hyosung Dryvit changed its name to Hyosung Inno Tech.
2003 : Yarn for nylon 66 airbag was developed.
Ulsan Factory obtained the ISO/TS 16949:2002 certification for tire
reinforcing material.
Hyosung Steelcord(Qingdao) Co., Ltd was established in Qingdao, China.
Boading Hyosung Tianwei Transformer Co., Ltd was established in Huabei
Province, China.
The Class Hyosung, an import car sales corporation, was established.
A PET bottle for a heating cabinet was developed.
Silver fiber "Mipan Magic Silver" was developed.
Hyosung Spandex(Guangdong) Co., Ltd was established in Guangdong
Province, China.
Hyosung Film(Jiaxing) Co., Ltd was established in Zhejiang Province,
China.
2002 : Hyosung Computer PU and Hyosung Data System were merged
into Nautilus Hyosung.
Took over the tire cord factory of Michelin in Scotsville, U.S.A.
Made a long-term supply contract for tire cords with Michelin.
2001 : Acquired and merged with Teleservice Co., Ltd.
Started operation of ERP system
2000 : Expanded Polyester Tirecode
Acquired and merged with Bridge Solution Co., Ltd., Hongjin Data Service
Co., Ltd., EZ's Venture Group Co., Ltd.

1990's
1999 : Expanded the Kumi spandex plant
1998 : Realigned organization into 5 Performance Groups and
31 Performance Units
Hyosung T&C, Hyosung Corporation, Hyosung Living Industry,
Hyosung Industries consolidated as part of the Hyosung Corporation
1997 : Established Hyosung EBARA Environment Engineering Co., Ltd.
Established Hyosung Finance Co., Ltd.
Completed the Beijing computer production plant
Completed the Chungwon home carpet plant
1996 : Changed the name of Tongyang Nylon to Hyosung T&C Co., Ltd.
Changed the name of Tongyang Polyester to Hyosung Living Industry Co.,
Ltd.
Started operation of the Beijing PET bottle plant II
Established Hyosung VINA in Vietnam
Doubled PP capacity from 110,000 tons to 230,000 tons
Entered polyester film business
Began operation of the PET bottle plant in Taejon
Established the nylon film plant in Taejon
1995 : Completed the Taejon tile carpet plant
Completed Kumi plant II (fabric)
1994 : Established PET bottle company in China
Established Hyosung Information & Communications Co., Ltd.
Completed the Jochiwon plant
1993 : Headquarters building moved to Kongduk-dong, Mapo-gu, Seoul
1992 : Established LSFC in Sri Lanka
Started producing spandex at the Anyang plant
Completed Kumi plant I (yarn)
Completed Changwon plant V (gear reducers)
1991 : Completed the Yongyeon PP & propylene plants
Tongyang Nylon recognized by the government for achieving
US$500 million in exports

1980's
1989 : Established the resin research institute
Established Hyosung EBARA Co., Ltd.
Applied for trademark of the TOPLON brand in 40 foreign countries
Completed Changwon plant IV (electric panel products)
1987 : Established Korea Engineering Plastics Co., Ltd.
Acquired and merged with Wonmi Textile Co., Ltd.
Completed Changwon plant III (rotating machinery)
1986 : Established Hyosung Hitachi Data Systems Co., Ltd.
(now Hyosung Data Systems Co., Ltd.)
1985 : Established Hyosung NAS Co., Ltd.
(now Hyosung Information System Co., Ltd.)
1984 : Acquired and merged with Toplon Co., Ltd.
Acquired and merged Hyosung Construction Co., Ltd.
1983 : Established the electronics research institute
1982 : Exported tire cord technology to India for the first time
Exported 230kV special steel towers to Bangladesh
1981 : Started the production and sale of carpets
1980 : Established Hyosung BASF Co., Ltd.
Completed the Kumi computer plant

1970's
1979 : Started producing PET bottles at the Eonyang plant
1978 : Established a technology center for heavy industry R&D
Received an award for having the best quality management system
1977 : Completed the Changwon Heavy Industry plant
1976 : Acquired Tongyang Educational Foundation
1975 : Acquired Hanyoung Industries Co., Ltd.
1973 : Established Toplon Co., Ltd.
Established Tongyang Polyester Co., Ltd.
Established Tongyang Dyeing Co., Ltd.
1971 : Established Korea first private technology institute
1970 : Acquired and merged with Hanil Nylon Co., Ltd.

1957~1969
1968 : Completed the Ulsan plant
1967 : Completed the Ulsan tire cord plant
1966 : Established Tongyang Nylon Co., Ltd.
1957 : Hyosung Corporation founded


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