Hyosung Heavy Industries was put once again on the Energy Storage Tier-1 list, which includes the world’s best energy storage system (ESS) suppliers recognized by renewable energy market research firm Bloomberg New Energy Finance (BNEF), the Korean company said Monday.
Hyosung Group Honorary Chairman Cho Seok-rae s death at the age of 89 on Friday has been mourned by the heads of Korea s largest conglomerates and influential politicians of both ruling and opposition parties, as the deceased entrepreneur contributed to the Korean chemical industry s growth and economic ties with foreign countries, industry officials said Sunday.
A growing number of Korean petrochemical companies are halting investments and considering selling their unprofitable facilities to cope with the lingering industry downturn resulting mainly from the oversupply of Chinese .
Hyosung Group has begun procedures for the chairman’s youngest brother to take control of several of the group’s affiliates, so that the owner family can avoid any additional internal conflicts, according to industry officials, Sunday.