Hyundai Hysco

Hyundai Hysco, or HYSCO is a steel company of Hyundai Motor Group, established in 1975, and headquartered in Ulsan, South Korea. They are a manufacturer of automotive steel sheet products and various steel pipes. Its corporate office is located in Seoul, and it also operates in Ulsan in South Korea with operations worldwide. Currently, Hyundai Hysco operates a steel pipe facility in Korea, eleven overseas processing centers, and three overseas offices internationally.[1]

Hyundai Hysco
TypePublic
KRX: 010520
IndustrySteel
Founded1975 (1975)
HeadquartersUlsan, South Korea
Key people
Bong-Jin Park
(Chief Executive Officer)
ProductsSteel Pipes, Auto Lightweight Products
Revenue 4,046 billion KRW (2013)
161 billion KRW (2013)
1,608 billion KRW (2013)
Total assets 2,258 billion KRW (2013)
Total equity 703 billion KRW (2013)
Number of employees
360(2013)
ParentHyundai Motor Group

History

Hyundai Hysco was established under the name Kyung-il Industrial Co., Ltd. in 1975. The company was renamed to Hyundai Pipe Co., Ltd. in 1980 soon after the completion of its full-scale steel pipe plant in 1979. As a scheme to be a leading steel company in the global market, the company was renamed once again to Hyundai Hysco in February 2001.[1]

In November 1982, two years after the steel pipe plant was built, Hyundai Hysco was awarded the 'US$100 Million Export Tower' in November 1982. In 1997, the company set a new record in the steel industry by producing over 10 million tons of steel pipes.[1]

For over 20 years, Hyundai Hysco has been the leading company in the Korean steel pipe industry. After taking the largest market share in the steel pipe industry, they entered the market for cold rolled products, which require the highest level of technology among other sectors of the steel industries. Hyundai Hysco has begun the commercial production of cold rolled products in April 1999. Since then, Hyundai Hysco set numerous records in the area of cold rolling, rewriting the history of Korean steel industries. Hyundai Hysco's achievements include the building of a full capacity system in less than one year from the commencement of commercial production and producing 5 million tons of automotive steel products in five years. In 2004, Hyundai Hysco took over an old and standstill works, Hanbo Steel, in Dangjin, in a consortium with Hyundai Steel. By taking over the old and abandoned works and successfully completing the normalization in 2006, Hyundai Hysco not only build the 4 million tons of cold rolling capacity per year, but also contributed to the Korean economy.

Hyundai Hysco now operates Global Steel Service Center, Automotive Parts Business, Steel Pipe Products, and Resource Development as four core business after partial merger with Hyundai Steel in 2013.

Operations

Ulsan Works

Ulsan works, located at Ulsan-Si Buk-Gu Yumpo-dong.

Overseas Works

Hysco has eleven overseas steel service centers in total. There are four steel service center in China, one in India, four in Europe, two in US. Hysco also has three sales office in Houston, LA in US and Tokyo in Japan. Lastly Hysco operates ASPI office in India to produce automotive pipe with Sumitomo.

Brief history

1970

1975.03 Established Kyung-il Co., Ltd.

1979.05 Completed construction on the steel pipe mill

1980

1980.05 Changed name to Hyundai Pipe Co., LTD.

1981.10 Obtained mill approval by Lloyd's Register of Shipping

1990

1997.04 Started construction on the cold rolling mill

1999.03 Completed construction on the cold rolling mill

2000

2000.11 Received Three Hundred Million-Dollar Export Award

2001.01 Changed company name to Hyundai Hysco

2003.11 Completion of Beijing Factory

2004.10 Opening of Dangjin Factory

2005.01 Exceed 10 million tons cold rolled steel sheet production

2005.05 Started commercial production of Hydroforming product

2006.01 Completed establishment of PCI system

2006.08 Completion of Dangjin Factory

2007.01 Completion of Jiangsu Factory (China)

2007.08 Completion of India Factory

2008.01 Transferred to Seoul Jamwon Office Building

2010

2013.12 Partial merger with Hyundai Steel for Cold-Rolled Sheet reorganization

See also

References
  1. "현대하이스코" [Hyundai Hysco]. terms.naver.com (in Korean). Retrieved 2019-05-24.
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