Hyosung Chairman and CEO Cho Hyun-joon attended a textile exhibition in Shanghai and met with clients in a bid to cement the company’s position as the world’s leading textile company, the company said Monday.
Cho’s attendance of the exhibition comes amid the company’s aggressive efforts to dominate the global textile market, following visits to Vietnam and India earlier this year.
 |
Hyosung Chairman and CEO Cho Hyun-joon (center) visits a client’s booth to examine latest trends during Intertextile Shanghai 2018 at the National Center for Exhibition and Convention from Friday to Sunday. (Hyosung) |
“Being on-site is the best way to analyze trends in the fast-changing market and listen to clients’ needs. To solidify the company’s stance as the No. 1 firm, we will focus our capacity on technology development, quality innovation and customized marketing,” Cho said.
He emphasized mutual development with clients when he met with Chinese lingerie maker Maniform, Chinese sportswear company Anta and Chinese clothing brand Yishion.
Hyosung participated in the event with 21 global clients, including China’s textile company Ya Tai and Vietnam’s Hung Yen Knitting & Dyeing Co. Ltd, and helped their sales activities and consultations.
Intertextile Shanghai 2018 took place for three days until Sunday at the National Center for Exhibition and Convention. Cho has participated in the event for two consecutive years.
Cho has been increasing his focus on China. Last month, he sat down with Zhejiang Gov. Yuan Jiajin to examine ways to achieve mutual growth.
According to global market research company Euromonitor, China’s clothing market was valued at 1.7 trillion yuan, approximately $260.9 billion, as of late 2016, with average annual growth of over 5 percent.
Since securing its self-developed spandex mass production system in 1998, Hyosung TNC rose as the No. 1 company in the spandex market in 2010 with an array of functional products and marketing efforts. Hyosung TNC has roughly 100 production and global sales networks in some 30 countries. It installed smart factory systems at its spandex plants in China -- Quzhou, Jiaxing, Guangdong, Zhuhai-- and Vietnam last September.
This February, Cho also met with Vietnam’s Prime Minister Nguyen Xuan Phuc to discuss ways to bolster business and cooperation. He revealed plans to construct a spandex factory in India during a meeting with Indian Prime Minister Narendra Modi.
By Kim Bo-gyung (
lisakim425@heraldcorp.com)
