Hyosung Group Chairman Cho Hyun-joon announced on the 29th that the company will advance toward a new century with fierce determination amid challenging management environments. The Hyosung Group held its 60th-anniversary ceremony at its headquarters in Mapo-gu, Seoul, with the chairman and other executives in attendance.
Reflecting on 60 Years of Challenge and Growth
During the anniversary address, Chairman Cho stated that Hyosung means โMorning Star,โ representing the bright star that heralds the dawn in the darkness. He emphasized that the company must become an enterprise that never loses hope despite any adversity, opening up a new future with consistent sincerity and persistent challenges.
He noted that the past 60 years were by no means a smooth path, adding that the tenacity and challenge spirit of the employees who protected the company through any difficulties serve as the driving force that made today’s Hyosung possible.
Rewarding Excellence and Expanding Global Reach
The โHyosung Person of the Yearโ award, presented to employees who contributed to global business competitiveness and technological innovation, went to Jason Neal, head of the Hyosung HICO (Hyosung Heavy Industries America) corporation, for expanding the U.S. power market business.
Neal was recognized for establishing local circuit breaker production bases 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 U.S. power market order volume is projected to grow more than twofold from approximately $2.38 billion last year to about $5.29 billion this year. Hyosung plans to enhance the technological competitiveness of its core businesses, including power equipment, while driving work innovation and business model advancement utilizing AI.
