SEOUL, South Korea--(BUSINESS WIRE)--Hyosung (KRX:004800) (Chairman Cho Hyun-Joon) announced on Nov. 9 that it strengthened communication with overseas markets through “Corporate Day,” its company presentation for domestic institutional investors and analysts, and a “non-deal road show” for offshore institutional investors.
The meetings were attended by executives from 17 companies, including Goldman Sachs Asset Management, JP Morgan and Allianz. They displayed high interest in the business activities and directions of Hyosung Corp. and the affiliates it spun off in June. “Chairman Cho Hyun-Joon’s determination to improve communication with markets was highly praised. The presentations will be of much help to the assessment of Hyosung’s intrinsic value,” an industry source said, suggesting Hyosung should hold a road show abroad regularly.
Chairman Cho Hyun-Joon said he would keep trying hard after the spin-off to create values and enhance shareholder value on the basis of Hyosung’s technological competitiveness. Hyosung Corp. said that as a control tower of the group, it is focusing on the preparation of business portfolio and the enhancement of brand value. Four subsidiaries vowed to increase management transparency and at the same time concentrate on promoting corporate value as independent entities.
Hyosung TNC (KRX:298020) presented a plan to complete the construction of a spandex factory in India, for which it broke ground in June, and its marketing strategy for the home market of the South Asian nation. Hyosung Chemical (KRX:298000) unveiled a plan to expand its polypropylene business in South East Asia, propelled by Hyosung Vina Chemicals it established in Vietnam early this year. Hyosung Advanced Materials (KRX:298050) vowed to concentrate on tire cord markets in Vietnam, India, Thailand and other Asian countries. Hyosung Heavy Industries (KRX:298040) explained a vision to go beyond domestic energy storage systems (ESS) market it dominates to the global market by fusing power conversion system (PCS) and power management system (PMS) technologies it developed on its own.