Hyosung marks 60th anniversary as chair calls on company to be a 'morning star'

Hyosung Group Chairman Cho Hyun-joon said the company must become a "morning star" — one that heralds the dawn even in darkness — pressing forward with unwavering sincerity and relentless determination to build a new future no matter what adversity it faces.

Speaking at the group's 60th anniversary ceremony at its Mapo headquarters in Seoul on Thursday, Cho said the past six decades "were never a smooth road," and credited employees with keeping the company alive through hardship. "Your perseverance and spirit of challenge in the face of every difficulty are the driving force behind the Hyosung of today," Cho said.

Cho pointed to a deteriorating global business environment, saying the company "cannot be free from this crisis," and called on employees to meet it with fierce focus. "What we need to overcome this crisis and achieve a new leap forward is an intensity of purpose," Cho said.

Cho said organizational culture reform is essential if Hyosung is to become a company that endures for 100 years. To that end, Cho urged the group to embody three qualities: a tenacious Hyosung that sees every challenge through to the end, a meticulous Hyosung that considers every possibility and executes without gaps, and a trustworthy Hyosung that customers can rely on for anything.

"These three are not mere slogans," Cho added. "They are the attitude and principles of action we must have in order for Hyosung to survive, win in competition and open a new century."

Cho closed by saying that just as the dedication of employees had sustained the company through its first 60 years, the next 100 would depend on the group's collective resolve to keep challenging and to see things through. "Like a star that breaks through the darkness to usher in the dawn, let us all build together the future of Hyosung — a morning star that lights the way to a new century," Cho said.

The ceremony also included a presentation of the Hyosung Person of the Year award, divisional Hyosung Person awards and long-service awards to employees who contributed to strengthening global business competitiveness and driving technological innovation.

The Hyosung Person of the Year award went to Jason Neal, head of Hyosung HICO — the US subsidiary of Hyosung Heavy Industries — in recognition of his role in expanding the company's presence in the American power market. Neal was credited with establishing a local circuit breaker production base through a strategic partnership with Quanta, a North American energy infrastructure solutions company, and securing large-scale orders in the 765-kilovolt ultra-high-voltage transmission grid and AI data center markets.

The special Hyosung Person of the Year award went to Tobang Construction, a subcontractor of Hyosung Heavy Industries' construction division. The firm was recognized for cutting costs by 3.698 billion won ($2.77 million) and improving on-site profitability through efficient process management and equipment operations at the Pyeongtaek Gajae 3BL and Gimpo Pungmu 1 and 3BL sites. Five employees who achieved outstanding results in marketing, technology, research and support received divisional Hyosung Person awards.