Hyosung Corp (Hyosung) is a conglomerate with diverse business operations. The company's main activities span across textiles, advanced materials, chemicals, heavy industry, construction, trade, and information and communication. Its consolidated subsidiaries operate in various industries, including trade, textile manufacturing, information and communication, pumps, and imported car dealerships. Its trade business division imports products such as steel and spandex, primarily for the US domestic market. The textile manufacturing division manufactures and sells tire reinforcements, carpets, and airbag cushions at overseas factories. It operates in various geographic locations, targeting markets in the US, Europe, Asia, and the Middle East, among others.

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Hyosung has been actively engaged in research and development activities. The company operates the Hyosung R&D Center and the Heavy Industries Research Institute, focusing on technological research through service contracts with its subsidiaries, including Hyosung TNC Co., Ltd., Hyosung Heavy Industries Co., Ltd., HS Hyosung Advanced Materials Co., Ltd., and Hyosung Chemical Co., Ltd. The company's R&D initiatives encompass a wide range of projects, such as the development of high-performance materials, eco-friendly technologies, and advanced industrial solutions. Key areas of research include spandex, nylon, polyester yarns, industrial yarns, polymerization, film studies, functional materials, and electronic materials. The company is also involved in developing new technologies and products in the heavy industry sector, such as eco-friendly gas-insulated switchgear, HVDC systems, energy storage systems, and asset management solutions. Hyosung R&D Center conducts research in Textile Research Group: Focussing on developing advanced textile materials, including spandex and differentiated yarns. Polymerization Research Group: Works on polymer products and catalyst/process technology. Film Research Group: Engages in the development of various film technologies. Functional Materials Research Group: Specializes in carbon fiber and water treatment membrane technologies. Electronic Materials Research Group: Conducts research on LED phosphors and other electronic materials. The company Heavy Industries Research Institute engages in research and development of new technologies and products in the heavy industry sector, including eco-friendly circuit breakers, HVDC systems, energy storage systems, and asset management solutions. In FY2024, the company spent KRW14,333 million on R&D, which as a percentage of revenue stood at 0.6% and declined 15% YoY.