HS Hyosung Vice Chairman Cho Hyun-sang Discusses Investment Environment with Romanian Deputy Prime Minister

Vice Chairman Cho Hyunsang meets with Romanian Deputy Prime Minister Varna Tancho
Discusses investment environment and cooperation between Korea and Romania
GST becomes a key production base for airbag exports to Europe and North America

Cho Hyun-sang, Vice Chairman of HS Hyosung, met with Varna Tancho, Deputy Prime Minister and Minister of Finance of Romania, to discuss improvements in the investment environment.

According to HS Hyosung on the 18th, Vice Chairman Cho met with Deputy Prime Minister Varna at the Lotte Hotel in Sogong-dong, Seoul, the previous day to discuss the investment environment, including changes in U.S. trade policies. This meeting was arranged at the suggestion of Deputy Prime Minister Varna and the Romanian delegation, who visited Korea to attract investment, proposing a meeting with HS Hyosung, the Korean company with the largest investment amount in Romania. Romania is a country that maintains continuous cooperative relations with Korean companies and has recently been recognized as a promising new investment destination, with nuclear power and defense companies seeking to enter the market.

Vice Chairman Jo Hyun-sang of HS Hyosung (right) met with Varna Tancho?, Deputy Prime Minister and Minister of Finance of Romania (left), on the 17th at Lotte Hotel in Sogong-dong, Seoul, to discuss improvements in the investment environment. (Photo by HS Hyosung)

On this day, Deputy Prime Minister Varna also expressed gratitude to HS Hyosung for creating investments exceeding 100 million euros (approximately 158.4 billion KRW) and generating employment for over 1,000 people despite the rapidly changing global economic situation. Vice Chairman Cho suggested enhancing investment attractiveness, stating that if the investment environment improves through tax benefits and investment incentives, other Korean companies would also consider investing.

GST, a subsidiary of HS Hyosung Advanced Materials located in the central Romanian region of Sighi?oara, has established itself as an important production base in Europe by manufacturing global airbag fabrics and exporting them throughout Europe and North America. Airbags are the fastest-growing automotive component due to increased installation rates per vehicle driven by growth in emerging markets such as China and India and stricter safety regulations, as well as the heightened safety demands in future mobility sectors like electric and autonomous vehicles.

GST is a leading airbag manufacturer with global production bases in North America, Europe, and Asia. It holds outstanding technology in the OPW airbag (One Piece Woven, an airbag produced using a special weaving technology that omits the sewing process, providing enhanced passenger protection) field and is the global number one brand in polyester material airbags.

Based on its long-accumulated technological expertise, GST plans to target the global market by securing various airbag solutions that ensure passenger safety in diverse mobility environments and developing new concept airbags.