Hyundai, Hyosung request FTC to recognize new group chiefs
Posted : 2021-03-02 16:00
By Nam Hyun-woo
Hyundai Motor Group and Hyosung Group requested that the Fair Trade Commission (FTC) recognize their new chairmen, according to the Fair Trade Act, which regulates chaebol s business practices.
This recognition bears significance because it determines the FTC s scope in considering whether certain companies are affiliated as a conglomerate or not. That status subsequently decides which companies are subject to regulations on conglomerate owners unfair profiteering from intra-affiliate trading.
According to industry officials, Hyundai Motor Group has recently requested the FTC to recognize Chairman Chung Euisun as the group s chief, according to the act. If the antitrust agency accepts this request and announces Chung as the chief, the automobile giant will have a new legal chief for the first time in 21 years.
TEXTILES By Dorothy Crouch | Thursday, February 18, 2021
During
ISPO Munich Online, which took place Feb. 1–5, the Seoul-headquartered fiber producer
Hyosung introduced its expanded line of Regen, the company’s sustainable and multi-function fibers. As interest in
Global Recycle Standard–certified materials continues to grow among consumers who demand pieces within loungewear, activewear and outdoor apparel that feature high-performance characteristics yet also remain more sustainable and generate the sensations of feel-good clothing the importance of eco-comfort will continue to rise.
“We are experiencing significant interest in our 100 percent GRS recycled Creora spandex, Mipan Regen nylon and Regen polyester all of which save valuable resources from being removed from the earth,” Mike Simko, global marketing director at Hyosung Textiles, said in a statement. “Having such a comprehensive package of recycled, multi-function fibers is quite uniq