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Hyosung Corporation history
Hyosung Corporation company history timeline
The company was founded on November 3, 1966 and is headquartered in Seoul, South Korea.“
1967 Completed the Ulsan tire cord plant
1970 Acquired and merged with Hanil Nylon Co., Ltd.
1971 Established Korea first private technology institute
Start of BusinessBefore 1973
1977 Completed the Changwon Heavy Industry plant
1978 Established a technology center for heavy industry R & D Received an award for having the best quality management system
Since the start in 1979, Hyosung has strived to keep its commitment of being innovative and customer-centric in various fields of financial solution business by continuously putting efforts into research and development.
1981 December Publishes and distributes Korea's first ‘TQC(Total Quality Control) guidelines May Two PET resins for soft drinks acquire United States FDA certification
1981 Started the production and sale of carpets
1982 Exported tire cord technology to India for the first time Exported 230kV special steel towers to Bangladesh
1983 Established the electronics research institute
1984 December Develops PP synthetic and epoxy synthetic
1984 Acquired and merged with Toplon Co., Ltd.
Around 1986, Hyosung founded their own R&D hub in Hamamatsu, Japan, and the close pace, hyosung prompt large-scale manufacturing of their designs.
However, this was preceded by it establishing its own R&D center in 1986, which was located in the Japanese city of Hamamatsu.
1988 December Establishes synthetics application and processing laboratory
Heavy Industry SectorHyosung Heavy Industries and ASEA jointly founded Hyosung ASEA (changed its name to Hyosung ABB in 1988)
1989 February Tongyang Nylon contracts with UOP America to implement dehydrogenation method
1990 December Tongyang Nylon completes Yongyeon propylene plant
1991 Completed the Yongyeon PP & propylene plants Tongyang Nylon recognized by the government for achieving US$500 million in exports
1993 July Tongyang Nylon, implements technology from JSW Japan to internally develop biaxial nylon film production chips
1996 Changed the name of Tongyang Nylon to Hyosung T&C Co., Ltd.
1997 June Hyosung Life Industries Gumi Plant 1 begins operation of polyester film plant May Hyosung Life Industries builds TPA plant in Yongyeon, Ulsan
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
1999 May Packaging PU sells more than 100 million PET bottles in the month
2000 December Chemicals research lab develops new PP catalyst March Invented Korea's first PET bottles(240ml) for milk
2001 October PP/DHPU, first-ever in Asia and third in the world to develop PP material ‘R200P’ for ondol(Korean floor heating system) and hot/cold water pipes, Film PU obtains ISO 9001 certification July PP/DHPU, develops world’s second heat-adherent synthetic for low temperatures
2001 Acquired and merged with Teleservice Co., Ltd.
2002 November TPAPU Yongyeon Plant 2 wins ‘Top prize in company sector’ in the 15th TPM world competition
2002 Hyosung Computer PU and Hyosung Data System were merged into Nautilus Hyosung.
Ulsan Plant obtained the ISO/TS 16949:2002 certification for Tire & Inductrial Reinforcements PU. Hyosung Steelcord(Qingdao) Co., Ltd was established in Qingdao,China.
2003 December Chemicals research lab obtains KT-Mark for medical PP component June Plastic Surgery PU obtains ISO 9001 certification May Film PU builds new establishment; Hyosung Thin Film Limited Corporation in Jiaxing, China
2003 Yarn for nylon 66 airbag was developed.
TextilePolyester Fiber PU receives Top Award for synthetic fiber in '2004 Korean Fiber Material Quality Awards’
2006 December PP product ‘R200P’ selected world-class product by Ministry of Commerce, Industry and Energy April Partial acquisition of Agfa Photo Germany’s assets
TextileWinner of 3 awards as leader of market share in the fiber sector(as of 2006) selected by Ministry of Commerce Industry and Energy
2007 June Ulsan Yongyeon Plant signs voluntary agreement to reduce chemical emissions
In Summer 2007, The Hyosung company Motors Division was acquired by fresh Korean conglomerate, S&T Collection ( Science and Technology ), and the denomination changed to S&T Motors, though most models are still intent underneath the The company name.
2009 Octorber ChemicalsPG, Yongyeon Plant 2 awarded ‘National Contributor of Eco-industrial Park(EP) Green Technology’ January PET bottle manufacturing technology is named as next-generation first-class product(high blockage gas multi-layer)
Gwanghyewon factory selected as Best Partner for Clients 2010
Neochem PU won '2011 Global Most Improved Supplier' award from LINDE in Germany
Neochem PU won the prize of '2012 Global Preferred Supplier'
TextileFiber PG launches various functional, environment-friendly products in ‘2012 Preview in Daegu(PID)’
Power Systems PU acquired the certificate of '2013 global top products' for gas insulation switch.
Won the prize of 2014 Korea Technical Grand Prize for high performance carbon fiber TANSOME®.
Construction SectorConstruction PU achieved an annual order value of 1.5 trillion KRW for 2014
Textilespandex brand for diapers, ‘creora® comfort’ launch at ‘INDEX 2014’
Signed the MOU for the Baegun Knowledge & Culture Valley urban development project Signed the MOU for supporting the fostering of industries specialized for Jeollabuk-do Opened the Carbon Business Incubation Center in Jeonju Acquired Best Family Friendly Management Certification in 2015
Construction SectorWon in the Customer Satisfaction category at the 2015 Hankyung Housing Culture Awards for Yongin's Giheung Harrington Place
2016 June Establishes new NF₃ plant in Quzhou, Zhejiang (浙江) province, China January Establishes nitrogen trifluoride (NF₃) and polypropylene (PP) plants in Yongyeon
Its operating profit in 2016 exceeded KRW1 trillion and the company subsequently joined the ‘KRW1 trillion Club.’
Construction SectorWon the Grand Prize in Chosun Biz's 2017 South Korea’s Most Loved Brands Awards (in the apartments category)
TextileJoined Annex 2018, the world's largest felt expo
TextileParticipated for the first time in Vietnam Saigon Textile & Garment Industry Expo 2018
2020 September TextileJointly with Andar introduces athletic leisure masks to the market.
2020 October Build Korea’s first liquefied hydrogen station in Samcheok April Signed an MOU with the Linde Group for liquid nitrogen business
2020 December Hyosung group donates 1 bil. won to love-thy-neighbor campaign June Uses polyketone to produce a watt-hour meter for the first time in the country April Signed an MOU with the Linde Group for liquid nitrogen business
2021 Joined the rank of businesses posting KRW 1 trillion in operating profit.
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Hyosung Corporation competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Spf | - | - | - | 7 |
| Rich Products | 1945 | $3.8B | 11,000 | 122 |
| Kettle Cuisine | 1986 | $105.0M | 100 | 30 |
| Delicato Family Wines | 1924 | $290.0M | 678 | 26 |
| G3 Enterprises | 1985 | $64.0M | 400 | - |
| DECI | 1966 | $50.0M | 220 | 13 |
| Correct Craft | 1925 | $11.0M | 100 | - |
| Bama Companies | 1927 | $340.0M | 1,150 | 36 |
| Nissin International Transport U.S.A. | 1973 | $410.0M | 3,000 | - |
| Qualex | 1987 | $26.0M | 50 | - |
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Hyosung Corporation may also be known as or be related to Hyosung, Hyosung Corp. and Hyosung Corporation.