Hyosung Invests In Spandex Plant In Turkey, Expands Guangdong Capacity

South Korea-based Hyosung Corp. is to build a spandex facility in Cerkezkoy, Turkey, capable of
producing 15,000 tons of spandex per year. The plant, with a price tag of US$130 million, is
expected to be up and running by the end of the year.

“We are investing in Turkey as part of Hyosung’s global growth strategy and to demonstrate our
commitment to the textile industry,” said Greg Vas Nunes, president, Europe and the Americas,
Hyosung. “We will be able to better meet the needs of customers for innovation and cost
competitiveness with this state-of-the-art facility using our patented creora® technology. As
Turkey, Israel, Jordan and Morocco are important sourcing areas for the US with increasing demand
for shorter lead times, we believe it is essential to install production closer to our customers to
better service their needs.”

In other company news, Hyosung is set to increase capacity at its Guangdong plant in Zhuhai,
China. The company hopes its latest investments and acquisitions will increase its total production
capacity to 87,000 tons per year by the end of 2008.

May/June 2007