Hyosung Group and its affiliates, which have been in the fifth year of Chairman Cho Hyun-joon's system, are showing a sharp rise despite COVID-19 pandemic this year.
The market capitalization of Hyosung's listed affiliates tripled in a year, the report showed.
According to the Korea Exchange on July 12, the standard market capitalization of Hyosung Group's listed affiliates such as Hyosung, Hyosung T&C, Hyosung Advanced Materials, Hyosung Chemical and Hyosung Heavy Industries recorded about 10 trillion Korean won (8.8 billion dollars).
On July 9 last year, the market capitalization of Hyosung Group's listed companies was 3.3 trillion won. It has more than tripled in just one year.
Among Hyosung affiliates, Hyosung T&C has seen the biggest increase in stock prices. Hyosung T&C's stock price rose 564 percent from 570 billion Korean won on July 9 last year to 3.85 trillion Korean won on July 9 this year.
Hyosung Advanced Materials' stock price rose from 540 billion Korean won on July 9 last year to 2.3 trillion Korean won on July 9 this year.
Hyosung Chemicals rose 265 percent during the same period, recording 1.217 trillion won in stock prices. Hyosung Heavy Industries rose 140 percent to 654 billion won.
Securities industry expect Hyosung Group's listed affiliates will be recorded high performance this year.
Meanwhile, Chairman Cho is focusing on the hydrogen business. "Hydrogen is the basis of the energy revolution that will change the future of mankind," Chairman Cho Hyun-joon said at a groundbreaking ceremony held at the Hyosochemical plant in Ulsan on June 21. "We will lead the shift in the hydrogen energy paradigm with continuous investment."
The company will also invest 1 trillion won over five years to increase its liquid hydrogen production capacity to 39,000 tons in the mid- to long-term. It is going to establish charging infrastructure for liquid hydrogen in time for completion of its Liquid hydrogen plant.
It also plans to establish green hydrogen production lines using renewable energy such as wind and solar power while developing blue hydrogen and green hydrogen extraction technologies that do not emit carbon dioxide through R&D investments by 2025.
