HYOSUNG CHEMICAL

Without Packaging, Delicious Deliveries are Not Possible

Without Packaging, Delicious Deliveries are Not Possible Not all plastic is the same! Hyosung Chemical manufactures plastic films that are used in packing instant foods we often purchase. However, can the same packaging be used for all foods? No, it cannot. Different plastic films may need to be used, considering the types and characteristics of the food and its cooking methods. What packaging materials should be used to keep food safe for a long time? Hyosung Chemical, which leads the plastic film industry, will give you the right answer. The COVID-19 pandemic in 2020 led to lockdown in many regions where people had to prepare all meals at home. As the pandemic continued, people became tired of cooking their meals every time and started to look for a convenient way to enjoy their food, such as ready-to-eat or pre-cooked products. As a result, savory, suitable home meal replacement (HMR) products have been in high demand even in the third consecutive year of the pandemic. Grand View Research, a global research firm, reported the size of the packaged food market as 14.386 trillion dollars in 2021, predicting an annual growth of 5.1% on average from 2022 to 2030.  There are various criteria for selecting pre-cooked food products. Packaging is one of the essential elements for selection because the freshness of food depends on it. Packaging methods vary depending on the type of food, such as sweets, soup, pre-cooked curry or rice, and sandwiches. It is common to utilize plastic films for packaging pre-cooked products. Hyosung Chemical's Film PU produces and supplies PET and nylon films under the Filmore brand. Let’s take a close look at the types of plastic films Hyosung Chemical manufactures.   Remember, not all food packaging is the same! Packaging Materials vary by Foods  Films are primarily divided into nylon and PET films as packaging materials. In the food industry, nylon films are commonly used for frozen and refrigerated foods, retort foods, easy adhesion, and pharmaceutical packaging; PET films are for general packaging, including food packaging. Hyosung Chemical produces both of these films.  Hyosung Chemical’s nylon films can be produced in different thicknesses for different uses, depending on the needs of individual clients. These films also have excellent oxygen barrier properties, making them suitable for packaging food and pharmaceutical products that need long-term storage. Hyosung Chemical's nylon films have been accredited as non-toxic in Korea, the United States, and Japan, assuring consumers of the safety of use. Nylon films for general packaging are used for packaging frozen foods, manufactured meat (ex. ham), and the lid of instant rice products. These films are suitable for maintaining the freshness of the food for a long time since they boast excellent oxygen and gas blockage. In addition, the outstanding printability and durability make these films effective for products prone to tearing or breakages, such as ice, seafood, and frozen foods. Nylon films are used for packaging retort food because of their high-temperature, high-pressure resistance. Retort food is a product that can be heated and eaten in a packaged state, such as instant curry or sauce. Thus, the nylon films used to package retort food protect the product and its contents from deformation with excellent resistance against heat and pressure. Hyosung Chemical's nylon films can protect retort food from oxygen and gas with its impressive thickness, superior adhesion strength, and outstanding durability. The easily adhesive nylon films used for the packaging of instant rice, fresh noodles, and capsules are coated on one side to improve their printability and packaging adhesion compared to other films. Hyosung Chemical, the only domestic supplier of easily adhesive nylon films, manufactures products with enhanced adhesion and gas barrier properties. These films are typically used for general food packaging, instant rice or tofu packaging lids, and spout pouches or bottoms for pouch packaging. Pharmaceutical nylon films are mainly used for packaging capsules or pills. You may have experienced taking out a medicine by pressing the convex part from the plastic package. The package is called blister packaging or packs, made of pharmaceutical nylon films. These films feature excellent durability and moldability. Hyosung Chemical, which produces such high-quality nylon films, is leading the industry in the domestic nylon market and the global market. With their excellent gas and moisture barrier, Hyosung Chemical's PET films are widely used in general packaging, including foods, snacks, retort food, instant coffee packets, and packaged sauce. These films have outstanding adhesion, making them suitable for products that need to be boiled or sterilized at high temperatures using hot water or a microwave. Hyosung Chemical's PET films for general packaging have good printability and adhesion with uniform thickness and heat resistance. Also, these films' versatility makes them valuable in a wide range of foods (confectionery, coffee mix, or retort food packaging that should withstand high temperature and pressure) and non-food packing (detergent refill pouches, cosmetic packaging, etc.). Hyosung Chemical - an R&D Leader of Exceptional Films for Optics and Windows, as well as Food and Daily Necessities PET films strongly reflect light and resist long-term heat, making them useful in various fields. PET films are suitable for optical films in electronic devices such as smartphones, desktops, and computer screens that we use all the time. Optical films are thicker than other films, which blocks harmful substances from electronic devices and increases resistance to external scratches. These films are also crucial in adequately adjusting screens' contrast ratio. PET films for vehicle windows and buildings provide thermal insulation and UV protection. High-gloss sheets for decorative sheets applied to home appliances like refrigerators and washing machines prevent scratches from daily use. Hyosung Chemical also produces PET films for lamination, advertisements, and general usage. Hyosung Chemical produces industrial, optical, and nylon PET films for general packaging at four different locations (domestic and overseas), establishing a research institute for consistent R&D. Even in the food sector, Hyosung Chemical has never stopped its research and development in unique film functions such as antibacterial and antioxidant films as well as films to keep food fresh. Hyosung Chemical has also laid a foothold for growth and increased customer satisfaction by its foray into film fields such as optical, process release, and window applications. Hyosung Chemical uses eco-friendly materials and never stops developing new technologies. This is what makes Hyosung Chemical recognized as the leader in the global film market and a future thriving firm. If you plan to buy a pre-cooked food product today, look closely at the packaging description. If you can recognize the type of film or the raw materials used to package your food, you will be able to enjoy your dinner with a new perspective of the world of packaging.

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Hyosung Leads Sustainability and ESG with Innovation

Hyosung Leads Sustainability and ESG with Innovation,Introducing Its Growth Engines For over six decades, Hyosung has opened up new horizons in numerous technological developments aimed at improving people’s lives. In doing so, Hyosung has come to stand shoulder to shoulder with global companies in technology and product quality. Hyosung's wish for a better life for humanity has led to concrete achievements in various fields. Hyosung has been leading the circular economy, producing eco-friendly B2B products, and taking the lead in protecting the global environment by reducing greenhouse gas emissions. Today, Hyosung is relentless in innovations to achieve a greener planet, utilizing hydrogen to make a net-zero environment for our future generation. Hyosung has continued its efforts toward environmental, social, and governance (ESG) issues, such as circular economy, sustainability, and carbon neutrality. Let’s take a look at Hyosung’s Five Management Principles. These principles, the basis for all Hyosung-affiliated businesses, provide a glimpse of its future initiatives. Here are the detailed descriptions of the five principles that have been the backbone of Hyosung's business.  [Hyosung's Five Management Principles]l  People-oriented business: Valuable relationship   with people always comes first.l  Customer-oriented Management: We listen to the   Voice of the Customer (VOC)l  AGILE Management: Quick response to changel  Exceed expectations: Offer the best qualityl  Data Utilization: Think and prove based on   systematic, scientific data   1) People-oriented business: Valuable relationship with people always comes first Hyosung’s first and far most crucial management principle is putting people at the front line of business. The engine for success is all about people. Suppose Hyosung is a large ship sailing the sea of the economic market. In that case, a navigator must establish a destination, a helmsperson who steers the ship, and a captain to direct the crew. In other words, Hyosung can only arrive at its destination with the collective power of talented individuals as a team, using their skills in various fields to sail the ship. Hyosung has grown into an international corporation leading the global market trend thanks to the efforts and passion of its executives and employees in various fields. Hyosung exists because of its employees. This principle is proven by their various employee education programs, fostering next-generation leaders. Hyosung provides training for all employees of all duty and position. In addition, the company annually selects employees above the manager level to conduct an interview with executives, and run mentoring programs. They also operate motivational programs encouraging employees to learn a new language. A short-term executive MBA course is also in place for executives to share the professional knowledge necessary for business division management. In addition, the Hyosung Talent Award and Outstanding Employee Award celebrate individuals in all Hyosung affiliations who have achieved personal growth and excellent business performance in their areas. These awards strengthen loyalty and provide valuable experiences for employees to feel rewarded, motivated and pride in their work. 2) Customer-oriented Management: We listen to the Voice of the Customer (VOC) Hyosung's management principal goal is to satisfy its clients. Under the belief that all answers in the market lie with the customers, Hyosung has concentrated its management on identifying and discovering the needs of consumers and providing good value. By listening to the voices of customers, Hyosung understands what they desire more quickly and accurately than anyone else. This approach has become the foundation for Hyosung in developing new technologies and products in the market, discovering new global supply chains, and building a worldwide network. Hyosung developed a project coined ‘C-Cube,’ a big data based on customers' feedback, opinions and market situations, and has been utilized across all affiliations. This project has been developed to satisfy Hyosung's B2B customers. The big data is based on the voices of our customers and competition. Based on this data, Hyosung is consistently connecting with the Voice of Customer (VOC) and is striving to improve customer satisfaction. In addition, Hyosung has been seeking a win-win growth strategy with small and medium-sized enterprise (SMEs) customers by supporting them to enter overseas markets. Also, The Company is installing booths and seeking marketing opportunities with SMEs at various global exhibitions. 3) AGILE Management: Quick response to change Hyosung has experienced dramatic economic growth from the 70s to the 80s, when manufacturing was the dominant industry, to the blooming of the IT industry in the 2000s. Hyosung is now facing the 4th industrial revolution and understands the importance of organizational agility. It is critical to efficiently adopt new technologies and trends in this time of transformation. AGILE management principle aims to increase the speed and efficiency of the organization and quickly grasp the flow of market changes that lead to the trends. With AGILE management, Hyosung expects to create new business opportunities and quickly grasp the opportunity. Hyosung's development of eco-friendly B2B products is a typical example. From the early 2000s, Hyosung began paying attention to sustainability and environmental issues. At that time, interests in the global environment were less fervent. Leading eco-friendly innovation, Hyosung developed regen® ocean nylon, the world's first recycled yarn produced from fishing net waste, one of the main culprits of marine pollution. In addition, the company developed regen® polyester made from 100% plastic bottle wastes for the first time in Korea, and is supplying the recycled yarn to global apparel brands. By developing post-consumer recycled (PCR) products, Hyosung has successfully introduced an economic cycle in the textile industry and creating consumption value for environmentally conscious consumers. Furthermore, Hyosung is actively developing new businesses that can contribute to solving global warming. Specifically, the company has built a liquefied hydrogen plant for hydrogen vehicles to reduce greenhouse gas emissions and become carbon neutral. Hyosung has also been working to produce green hydrogen by developing carbon fibers essential for high-pressure hydrogen transportation. 4) Exceed expectations: Offer the best quality Since the 1960s, Hyosung has been leading the synthetic fiber industries, heavy industries, advanced material, and chemical industries. Hyosung has been concentrating on technology development and product innovation to produce high-quality products that exceed the expectations of customers. Its achievements are evident through numerous domestic and overseas patents - 548 domestic and foreign textile-related patents, 708 advanced materials-related patents, 1,037 chemical-related patents, and 692 heavy industries-related patents. Multiple patented technologies created by Hyosung's researchers and technicians are truly the foundation for the company's sustainable growth and customers' better future. Hyosung succeeded in developing recycled nylon yarn for the first time in the world, leading the production of environmentally friendly fibers and accelerating the economic cycle in the textile market. Through constant technological development, Hyosung is being recognized in many fields, including the global spandex and tire cord, where Hyosung boasts global no. 1 market share. Hyosung has been continuously developing new materials, including spandex creora®, and carbon fiber TANSOME®, the primary material for hydrogen storage containers. Polyketone, FDA-approved eco-friendly plastic using carbon monoxide as raw material, is the world’s first of its kind. Hyosung's best technology permeates every aspect of our daily lives with these new materials. In addition, Hyosung has continued R&D and investments to take lead in the high-technology industry and is continuously developing technologies with new materials, big data, and artificial intelligence.  5) Data Utilization: Think and prove based on systematic, scientific data Hyosung's customers are not limited to specific regions as they are distributed worldwide. They are diversified around multiple industries, value chains and roles, including production, sales, management, and R&D. Hyosung's branches and corporations worldwide collect VOC and vast information regarding customers, competitors, and markets. Hyosung intends to utilize such data through systematic and scientific database management based on VOC collection. Data-based management has the advantage of being able to identify and collect data to lead the market trend. Hyosung uses VOC in various ways, from customer strategy to product and technology development, investment-related strategy establishment, and decision-making. For B2B clients who have been our clients for a long time, Hyosung considers trust crucial in business relationships. The data Hyosung accumulates from the customers enables to build a long-term relationship by predicting future market changes and identifying the correlation between our customers’ competition and the market.Hyosung is also building an intelligent factory as digital transformation (DX) in the 4th industrial revolution will increase the competitiveness of the manufacturing industry. Hence, Hyosung is innovating the production process by introducing smart factories domestically in the Changwon plant and overseas locations, including China, Vietnam, and India.  Hyosung's Five Management Principles for Sustainable Growth to Protect the Future of Mankind Hyosung's Five Management Principles outline the company's present and future directions. Each of these principles is closely related to ESG and sustainability. Based on the philosophy of placing people first, Hyosung listens to customers, responds flexibly and with agility to the changing markets, develops high-technology quality products, and carries out scientific management. Through mission-driven management toward ESG, Hyosung has developed eco-friendly products ahead of the times. Hyosung makes an enterprise-wide effort to operate its company considering even the small details, with the intention to create an environment where people can lead a comfortable, safe and eco-friendly life. Hyosung's multifaceted efforts illuminate the company's successful future by enabling rapid change ahead of the era of constant development and revolution.

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The charm of circular economy captivated the world, turning waste into treasure

The charm of circular economy captivated the world, turning waste into treasure Abnormal weather conditions that hit the world last summer are a cause for concern. The United Kingdom, known for its cool summer, suffered heat waves as high as 40 degrees in Celsius, so much so that its schools had to close. Greenland lost 18 billion tons of ice in just over three days. The US suffered the most severe heat wave in 90 years, where 28 states out the 50 went around with excessive heat warnings. With these widespread abnormal weather conditions, awareness of the environment has been raised. As such, attention to a circular economy about protecting the environment against climate change has grown accordingly.  The circular economy is a must for carbon neutrality The circular economy is a model adopted by Europe designed to avoid the existing linear model where raw materials are mined for production and used products are thrown away after use. In a circular economy, we reuse the used raw materials in every possible way. A successful transition into this renewable energy-based economy is the key to achieving carbon neutrality. Production and disposal of product waste are responsible for 45% of greenhouse gas emissions. In a circular economy, we should be able to cut greenhouse gas emissions significantly and thus able to achieve net zero.                                                     We have a long way to go. According to the OECD, out of the 15% of plastic waste collected for recycling, only 9% was recycled in 2019. Half of the plastic waste ended up in landfills, nearly 1/5 incinerated. We desperately need an economic model that enables upcycling.   Global efforts to build a circular economy We are witnessing international efforts being placed forth for a circular economy. The EU announced the New Circular Economy Action Plan in March 2020, making all plastic packaging recyclable or reusable. The Fifth session of the United Nations Environment Assembly (UNEA-5) also agreed to develop an international agreement on plastic pollution prevention by 2024. Korea is no exception: It is pursuing legislation requiring over 30% of PET bottles to be made of recycled materials by 2030 under the K-Circular Economy Implementation Plan for Net Zero, announced in December last year. Biden administration has pledged to succeed President Obama’s renewable energy and energy efficiency policy and promoted the Green New Deal alongside implementation plans for a carbon tax and Carbon Border Adjustment Mechanism. The US is now back to the Paris Agreement as of January 20th, 2021, and is set to achieve net zero across the whole economy by 2050 with its Clean Energy and Infrastructure Plan.  Multinational companies are also playing their role, and here are some of the examples of those corporates that are pursuing a circular economy as well as environmental protection. The American recycling company TerraCycle introduced LOOP in 2019, a circular platform built on recyclable packaging materials. LOOP offers normal goods such as shampoo, detergents, toothpaste, and food such as ice cream and chocolate in stainless containers and glass or aluminum bottles. Customers returned the containers after they consumed the products for recycling, similar to milk delivery services when used milk bottles were collected and returned for reuse. The platform, designed to reduce plastic container waste, is currently available in the US, Canada, and the UK. In France, known as smoker’s haven, a start-up, Cy-Clope, has launched a cigarette butt recycling service based on circular economy. A single cigarette butt can pollute 500 liters of water, taking as long as 12 years to decompose. The French start-up collects cigarette butts from the streets and recycles them, and its collecting container can hold up to 10,000 cigarette butts, eventually recycling 100%. Cigarette filters are recycled as plastic materials, while the rest are used for compost.  Hyosung, a leader in circular economy with its post-consumer PET bottle-based fiber ‘regen®’  A company has been there at least a decade earlier than TerraCycle and Cy-Clope. Hyosung TNC, a chemical fiber affiliate of Hyosung Group, introduced the first Korean recycled polyester fiber regen® in 2008. The yarn is created from post-consumer PET bottles, not existing petrochemical materials.  50 plastic bottles of 500ml are used for one kilogram of regen. As it doesn’t consume petrochemical materials, it also contributes to saving up our limited resources from the earth. International fashion names are using regen® to produce eco-friendly clothing and bags. Since its inception in 1966, when its mother company Tongyang Nylon was established, Hyosung has led new material development R&D efforts in Korea over the past 60 years. Hyosung regen® has acquired Control Union’s Global Recycle Standard (GRS) certification in 2009 and Eco-Mark from the Japan Environment Association for its contribution to sustainability in the textile industry.  Hyosung’s 100% recycled polyester fiber leading ocean protection With its dedication to protecting the ocean, a vital buffer against climate change's impacts, Hyosung noted that 80% of ocean waste is plastic. At the same time, 1/3 of them are generated from vessels. Marine debris is collected and disposed of via incineration, creating another layer of environmental degradation. Hyosung’s solution to this problem is ‘regen ocean polyester’ recycled from marine waste. It has acquired the Ocean Bound Plastic certification, the first of its kind for a Korean company. Ocean-bound plastic is abandoned plastic waste recovered from areas up to 50km inland from waterways or 200meters from rivers and thus often not subject to inland waste or recycling system. Hyosung’s regen ocean polyester is made from PET bottles found in the ocean and waterways, fully meeting the strict standards of the OBP. Thus, Hyosung truly fulfills the spirit of “recycling” by collecting those pollutants from the ocean and ‘recycling’ them. The company has developed a thorough process for the recycling process and specification management for quality control. Hyosung TNC takes sustainability and circular economy seriously and has made its regen products one of the key growth engines for the company’s future.  World’s first recycled nylon from fishing net waste Building on its advanced nylon technology, Hyosung TNC has introduced a recycled nylon fiber from ocean waste to contribute to building a new circular economy model. Nearly out of the 8 million tons of plastic waste being dumped into the ocean, 640,000 tons are from fishing net waste. Hyosung’s regen ocean nylon, launched in 2007, is the world’s first recycled nylon fiber made from fishing net waste.  Turning discarded fishing net waste into high-quality yarns is quite challenging because the marine debris, after being soaked in the salty waters, often comes with many impurities and thus making it tricky to extract caprolactam, a key material for nylon yarns. So much so that there are only two companies in the world with their proprietary technology of nylon recycling. Hyosung TNC was the first company to introduce recycled nylon worldwide based on its decades-old technology and R&D efforts. The company has signed MOUs with Korean local governments such as Busan City and South Jeolla Province in 2021 to expand its regen ocean nylon to increase the capacity to 150 tons per month.  We at Hyosung spare no effort in resource sustainability and environmental protection  Hyosung offers other recycled fibers such as regen® spandex, recycled spandex from reclaimed waste. regen® spandex is the only commercially available recycled spandex that can be applied for various use and is naturally in high demand. It is made with pre-consumer waste from the company’s virgin creora® spandex yarn manufacturing process. Hyosung’s unparalleled commitment to a circular economy is proven by its decades-long focus on research and technology since the 1960s when it opened its first research center. With its entire portfolio of regen polyester recycled from PET bottles, regen ocean polyester made with PET bottles found in waterways, regen ocean nylon made from fishing net waste, and regen® spandex from reclaimed textile waste, Hyosung continues its commitment to sustainability and environmental protection for the sake of a better life for humanity.

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