Introduction of Hwaseung Group
Global No. 1 Brand to be delivered to the Customers Worldwide
Hwaseung Group taking a Leap Further and Higher
1953 Birth of "東" Marked Rubber Shoes
Dongyang Chem Co., Ltd. was established in Aug. 7, 1953 and manufactured rubber shoes at first. It was the start of the history of the Hwaseung Group. Starting with the establishment of the mother company, Hwaseung R&A, Dongyang Chem Co., Ltd. in May 1978, to the establishment of six affiliates, the Hwaseung Group took a giant step while systemizing its structure as a group. Following the former CEO, the late Hyeon Sumyeong, Hwaseung diversified its business under the lead of CEO Hyeon Seunghoon and established a foothold for successful overseas expansion by moving its shoe-related production plants overseas, such as to Indonesia, Thailand, etc.
Management Based on Selection and Concentration
Since then, Hwaseung has run its business based on selection and concentration by mergers and sales of affiliates and reconstruction at high intensity. As a result, Hwaseung finally paved the way for its comeback with support from all of its executives and employees. It released a declaration of a new CI in 2005, and the company drew up a blueprint for the future with its 2010 Vision.
Human- and Ability-Centered Hwaseung Group
Hwaseung Group has a total of five business sectors including current core businesses such as automobile parts, materials, fine chemistry, shoe manufacturing and general trading to respond promptly to various sectors worldwide. In addition, the proportion of overseas management was adjusted to 50% of the total group based on global networking and enhanced overseas business competency while developing new business sectors with high value to accelerate future management.
Hwaseung Group Promptly Responds to Various Fields in25 Cities in Seven Countries.
- International trade The general trading sector, a 21st-century strategic business of Hwaseung, has been growing as a competitive trading company that includes resources, steel, fabric, general trade and a purchase business for various types of raw material. It makes its best efforts to advance to be the world‘s best general trading company by continuing development of new business with future profit source potential by organic cooperative relationships with overseas subsidiaries including ones in the USA, Vietnam, India, China, etc. and by geographical extension to build a global network.
- Automotive Parts Hwaseung's automobile parts business has been breaking into overseas market with overseas subsidiaries at the center, including ones in the USA, China, India, the EU, South America, etc. While maintaining its position as the domestic No. 1. In particular, both major keys in the automobile parts business, the sealing and fluid businesses, are committed to enter the global Big 3 by accelerating profit improvement, global localization and active R&D investment.
- High-Tech Material Hwaseung Material became the domestic No.1 material company by consistent change and innovation after the foundation of Dongyang Chem in 1978. As a result of continuous technology investment and management innovation based on approximately 40 years of accumulated technology, it provides the best products and technologies that are internationally recognized by developing 1,500 types of compounds including CMB, TPE, silicon, etc.
- Fine Chemical Hwaseung looks for challenges in the futuristic fine chemistry industry, and is enabled to do so based on high-tech science and technology. It enhances global competitiveness based on a flexible production system, optimized facility efficacy and a locally constructed production system and proceeds with sales maximization based on the development of high value-added products.
- ODM Shoes Hwaseung's fashion and sports products, with sophisticated ideas, unique materials and competitive prices, are growing as the world‘s best brands in line with international design trends. It develops new brands that can satisfy various customers, and in particular is expanding its IT-based online businesses.