Press release

Hyosung Chairman Cho Hyun-Joon Holds ‘Insight Forum’ for In-House Leaders

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Hyosung
(KRX:004800) held the “Second Insight Forum” for its executives and team
managers.

Hyosung launched the forum in January for its in-house leaders to
identify rapidly changing trends quickly and apply them effectively to
their work. The forum takes place every other month, with great scholars
and experts invited to speak on a wide range of issues.

In the Second Insight Forum, Hong Sung-guk, chief executive of the Hyean
Research (former CEO of Mirae Asset Daewoo), gave a lecture entitled
“Shrinking Society, the New Frame of the Korean Economy.” Hong noted
that every part of our society is shrinking in the era of continued low
growth, and called on companies to prepare to cope with the challenges
of the age of smart factories and the Fourth Industrial Revolution.

“It is essential in listening to the voice of customers to accumulate
knowledge in diverse fields through the Insight Forum and brace for
fast-changing business environment,” Chairman Cho Hyun-joon said, “I
will try to make Hyosung grow together with customers by building its
capability to respond flexibly to changes in its business conditions.”

In addition to the forum, Hyosung runs MIT ILP (Industrial Liaison
Program) with the Massachusetts Institute of Technology in its continued
effort to explore new business models.