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Hyosung 2017 profit expected to exceed 1 trillion won
Aug '17
Driven by strong sales of hi-tech textile fibres, it is expected that profit of Hyosung Group will exceed 1 trillion won in the financial year 2017. South Korea-based company's sales and operating profit for the first half of the financial year 2017 amounted to 5.9796 trillion won ($5.229 billion) and 452 billion won ($395 million), respectively.

The company's business performance has improved under the chairmanship of Cho Hyun-joon. Hyosung’s operating profit surpassed 1 trillion won last year for the first time since its foundation 50 years ago.

"I will lead the group to win all competitions by inheriting the technology-centric management philosophy and fostering the culture of efficient communication and attentive listening," Cho said in his inaugural address in January. He has steadily built up performance across a wide range of businesses including textiles, industrial materials, chemicals, heavy industry and construction.

Cho became President of Textile, Information & Communication PG and Corporate Strategy Center in 2007, and improved its product ranking from second to first. He demonstrated his global management ability by growing Textile PG up to 40 per cent of the group’s operating profit. (RR)

Fibre2Fashion News Desk – India

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