Sustainable Steel Supply Agreements

HS Hyosung Advanced Materials has entered into a preliminary long-term supply agreement with Thailand-based Tata Steel to source steel wire rod manufactured with a lower carbon footprint.

Tata Steel utilizes electric arc furnace technology, which primarily melts recycled scrap metal to deliver its product. The company's production process results in substantially fewer emissions compared to conventional steelmaking methods that rely on coal. This specific raw material will be used by HS Hyosung Advanced Materials in the production of steel tire cord, a critical reinforcing component within vehicle tires.

The agreement aligns with the South Korean company's objective to significantly increase the proportion of its tire cord sales that are classified as environmentally friendly. The goal is to triple such sales within a few years.

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