Chairman Cho Hyun-joon leads Hyosung to improve bottom line
Hyosung Group said on February 27 that the conglomerate donated 500 million won ($400,000) to Korea Red Cross so that the country will be able to contain the novel coronavirus, COVID-19.
The Seoul-based group also contributed 50,000 pairs of medical gloves and 3,000 hand sanitizers, which are most necessary for Daegu and its vicinity. The areas are most hit by the viral virus.
“We will put forth efforts to help our country grapple with the unexpected crisis caused by COVID-19. We greatly appreciate to medical staff in the field,” Hyosung Chairman Cho Hyun-joon said.
Under his stewardship, Hyosung also chalked up stellar performances last year as the group’s five major subsidiaries combined to reach 1 trillion won ($800 million) in operating profit last year.
The overall sales of the five amounted to 18.12 trillion won for the operating income of 1.01 trillion won.
The group returned to the 1 trillion won profit club for the first time in three years.
“We could rack up last year’s outstanding results at a time when the market competition ever intensifies. Toward that end, we tried to meet the needs of our clients through premium products and briskly tapped into global markets,” a Hyosung official said.
Chairman Cho, who studied at Yale University in the United States and Keio University in Japan, took charge of the group three years ago.