Hyosung TNC Invests $1 Billion in Future "Bio" Business
Chairman Hyun-Joon Cho states, "The bio business will become a core pillar of Hyosung for the next 100 years.
- Chairman Hyun-Joon Cho states, "The bio business will become a core pillar of Hyosung for the next 100 years.
- SEOUL, South Korea, March 31, 2024 /PRNewswire/ -- Hyun-Joon Cho, chairman of Hyosung announces major investment in the bio business, embarking on future new business ventures.
- Hyosung TNC plans to proactively respond to the global materials market's reorganization around sustainable products by investing $1 billion to establish multiple Bio-BDO production plants capable of producing 200,000 tons annually.
- From Raw Material to Fiber, Hyosung TNC Establishes the World's First Fully-Integrated Production System for Bio-Spandex
With this investment, Hyosung TNC has secured the largest bio-spandex factory in Vietnam.