[Korea's financial standing hyomun newspaper reporter] yisangun Hyosung Group Vice President said, 'I will pursue sustainable growth through change and innovation. "
The vice president 17 days Hyosung Group held "Article 62 group shareholders' meeting" in the greeting in the headquarters said "Last year was accelerated difficulties falling economic growth of China and Donald Trump, American protectionist trend spreading of the administration launched '' Despite Hyosung maximum performance is achieved since its establishment, such as practice to achieve an operating profit of 1.0163 trillion won to reduce costs and expand markets, strengthen customer focus' he said.
He also added that "this year, Hyosung'll build the confidence of our customers through establishing a sustainability management system '' will carry out enhanced business capabilities of the Global Top-level, customer-oriented management practices, innovation and change it to" said.
Meanwhile, Hyosung day in shareholders' gimgyuyoung (Chief Technology Officer Industrial Materials PG: CTO) passed a proposal to elect the president of a company's directors. This allows Hyosung joseokrae former president, was johyeonjun to have a president, vice-president yisangun, outside directors 5 people johyeonsang up on beaches. Transactions sonbyeongdu · · · · gimsanghui yibyeongju baktaeho outside directors re-elected agenda also passed.
On the other hand, the agenda of the Audit Committee elected gimsanghui yibyeongju Director, Transactions, was rejected can not get a majority of more than 50% agreed. It is believed threw the shareholders voting against such '10 served as outside directors and outside of the 'independence' of the controversy raised by the national pension.
<Greeting professional>
Shareholders, Dear respected.
We deeply appreciate the help we receive a lot of support and interest in the growth and development of the company during the past year. Looking back over the past 2016, the global economic downturn of China's economic growth continues fell to 6.7%, Breck was a year that the spread sheet and the protection of the US presidential election trump trade stance. The domestic economy also led low oil prices and sluggish exports, employment of weak domestic demand and investment shrinking stayed in recession for three consecutive years, including a 2% growth cycle.
Despite this difficult business environment, we have endeavored to Hyosung samgo as an opportunity to jeonhwawibok through cost reduction and market expansion, customer-oriented management strengthened.
Spandex, core businesses such as tire reinforcement have been further strengthened its market dominance by expanding global production capacity while continuously develop differentiated products and customized ensuring world-class quality. PP, NF3, including advanced chemical sector has also strengthened its global competitiveness by enhancing productivity and increase cost competitiveness. Nylon, polyester yarn, electrical equipment, IT in the financial sector was expanding its global production network and the yirwot earnings. Etc., etc. In addition, greenhouse gas emissions associated with eco-friendly growth sectors and partners were also various performances, such as position itself as a leading company in the industry.
Based on these results we achieved last year, consolidated sales in 9291 11 billion and operating profit of 1 trillion 16.3 billion won a record-high earnings.
This large bar all dressed shareholders gave strength to continued encouragement and support sent. I rented this place to say once again thank you.
Esteemed shareholders,
Hanhaedo year following the year is expected to be difficult. There is trade protectionism is emerging as a global phenomenon seems to be the difficulty of exporting companies weighted, and a growing uncertainty as expanding the possibilities emerging due to the economic crisis, US interest rate hike. Here is also a political conflict and security issues of the Korean Peninsula and neighboring countries seems to act as an important factor in the business environment.
Hyosung us through change and innovation rather than give in these difficult situations out party continues to grow as a truly global company. We will talk about the highlights of this year to pursue matters for this purpose.
First, it will strengthen the business capabilities of the TOP global level to become a truly global company. Which operates a truly global company is looking at the global perspective of all business activities Meanwhile, in each area is to demonstrate the system capabilities and to act as a local company.
Meanwhile, Hyosung has been to expand the business early to enter foreign markets, the company has raised its global production network connecting appearance by building a continent and the continent. Furthermore, more secure technology, quality, and cost competitiveness in the global TOP level here, and then actively to strengthen the global management system, excellent human resources and look forward to developing a truly global company.
Next, you will practice customer-oriented management make every effort to build partnerships with our customers. Customer focus is going to meet our customers' expectations at least to think and act from the customer's perspective to increase customer value, strengthen partnerships mutual win-win.
In the future, we will make Hyosung there is power from a trusted company focused on customer-oriented management practices, and customers. To identify the needs of the customer and the customer for this purpose, and the customer will keep the promise thoroughly, will become a company that provides the best quality and service.
In addition to establishing a sustainability management system will become a company trusted by society. The importance of the social responsibility of businesses today are growing increasingly day. Practice ethical management, and customers, we strive to contribute to the development of the enterprise ecosystem partners and shared growth. In addition, the company will become a share of happiness together to further expand its social contribution activities.
Esteemed shareholders,
Hyosung achieve the maximum continuous performance ever two years despite the difficult conditions, both internally and externally, and has been striving to increase shareholder value. We accomplished our all employees are always the best teamwork to win naganeunde Hyosung will do our best to create a hundred years now. Go ahead ask shareholders to send a lot of support and encouragement to our company and our employees. Thank you.
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