Cho Hyun-joon, Chairman of Hyosung Group, announced on October 29 that the company will march toward its next century with ‘fierce determination toward goals’ amid a challenging management environment.
The Hyosung Group celebrated its 60th anniversary with a commemorative ceremony held at its headquarters in Mapo-gu, Seoul, attended by Chairman Cho and other executives and employees. In his commemorative address, Chairman Cho stated that Hyosung means the ‘Morning Star,’ representing a bright star that announces the dawn in the darkness, emphasizing that the company must become an enterprise that opens up a new future with unwavering sincerity and persistent challenge without losing hope amidst any adversity.
He further noted that the past 60 years were never an easy path, highlighting that the persistence and challenging spirit of the employees who protected the company against all difficulties served as the driving force behind today’s Hyosung.
The ‘Hyosung Person of the Year’ award, presented to employees who contributed to strengthening global business competitiveness and technological innovation, was given to Jason Neal, head of Hyosung HICO (Hyosung Heavy Industries’ US subsidiary), for expanding its business in the US power market.
Neal was recognized for establishing a local circuit breaker production base through strategic collaboration with Quanta, a North American energy infrastructure solutions company, and securing large-scale orders in the 765-kilovolt (kV) ultra-high-voltage transmission grid and artificial intelligence (AI) data center markets.
Driven by these achievements, Hyosung’s order intake in the US power market is projected to grow more than twofold, rising from approximately $2.38 billion last year to about $5.29 billion this year. Hyosung plans to elevate the technological competitiveness of its core businesses such as power equipment while simultaneously pursuing business model advancements and work innovation utilizing AI.
