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Hyosung rides on spandex to boost sales

Hyosung rides on spandex to boost sales
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Hyosung launches ESG management committee

Hyosung launches ESG management committee
Posted : 2021-04-30 15:15
Updated : 2021-04-30 17:12
Hyousung Group Chairman Cho Hyun-joon calls environmental, social and corporate governance (ESG) management a must-have identity for the conglomerate to become a premium brand in the global market. Courtesy of Hyosung Group
By Yi Whan-woo
Hyosung Group has launched a new environmental, social and corporate governance (ESG) committee to enhance and bolster efforts for co-prosperity between the business sector and society, the conglomerate announced Friday.
The committee is expanded from an existing one that focused on reforming the conglomerate s governance structure and introducing transparent management. The decision was made during a board of directors meeting, Thursday. ....

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S.Korean chem firms look to specialty chemicals to drive growth

South Korea-based Kumho Petrochemical Co. stunned the market last year with a positive earnings surprise in the third quarter of 2020. The company posted an operating profit of 213.7 billion won ($194 million), almost triple the amount from the year-earlier period, thanks to the soaring sales of NB latex during the COVID-19 pandemic.
NB latex is a type of synthetic latex used to make industrial, cooking and surgical gloves.
Kumho Petrochemical did not expect the boom to continue as overseas competitors began to aggressively expand their production. Industry watchers projected NB latex prices to plunge due to the oversupply.
But they were wrong. The price of NB latex posted $1,822 per ton last month, up by 15% from the previous month and a staggering 92.6% increase from the same period last year. ....

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