Hyosung Chairman Cho Hyun-Joon Convenes Vietnam Co. Board Meeting To Step Up Conversion To Holding Company

SEOUL — November 1, 2018 — Hyosung Chairman Cho Hyun-Joon convened a board meeting of Hyosung Vietnam Co. on October 26, where he fixed procedures to convert it into a holding company.

He explained the remaining proceedings for the changeover of the company to a holding company, and collected opinions from inside and outside directors in the meeting. He also accounted for a decision to pay more than 4,000 won in cash dividends to Hyosung shareholders for 2018, and vowed to continue business activities to return part of profits to shareholders.

After the meeting, the chairman visited the site of a polypropylene plant under construction in Ba Ria-Vung Tau Province in southern Vietnam with the directors, inspected the production process of the plant and discussed an infrastructure investment plan with related officials.

“Hyosung will sharpen its competitiveness to hold the global markets all the time by utilizing the expertise of Hyosung Corp., which is the holding company of Hyosung Group, and newly established affiliates,” Hyosung Chairman Cho Hyun-Joon said. “By doing so, we will firmly carry out a management policy to raise business and shareholder values, and at the same time give part of profits back to our shareholders.”

Posted November 7, 2018

Source: Hyosung Corp.