Hyosung Chairman Cho Hyun-joon (Hyosung)
Hyosung Corp. said Thursday the company and its four major affiliates saw their combined operating profit surpass 1 trillion won ($848 million) in 2019.
The five companies – Hyosung Corp., Hyosung TNC, Hyosung Heavy Industries, Hyosung Advanced Materials, Hyosung Chemical -- recorded combined revenue of 18.11 trillion won and operating profit of 1.1 trillion won.
It is the second time the Hyosung Group has seen the operating profit go above 1 trillion won since 2016, when it saw revenue come in at 11.92 trillion won and operating profit at 1.16 trillion won, according to the firm.
The company attributed the improved performance to its premium fiber products that reflect customer needs in markets such as China, and better sales at its overseas corporate bodies under the leadership of Chairman Cho Hyun-joon, who took the post in 2017.
By Jo He-rim (firstname.lastname@example.org