‘Finding a New Gold Field in Fiber’
-Huvis Proclaims New Vision 2012-
There was an ambitious proclamation to find a new gold field in the fiber industry, which has been known to be a declining industry.
The largest polyester manufacturer in Korea Huvis proclaimed the ‘New Vision 2012’ on September 3 at the headquarter conference room to the staff and executives from headquarters and other establishments. The company included its plan to newly invest 150 billion won over 5 years for the advancement of function and class of preexisting raw cotton products, and develop new material and new technology in order to achieve an ordinary income rate of 6%, which is at the level of top-ranking companies, opening up a new era of renaissance in the fiber industry.
 
Huvis’s CEO Sung-hwan Moon emphasizes that saying the fiber industry is a declining industry is completely different from the facts. He presented the change in the fiber industry one by one. “How many industries grow 8% yearly?  The synthetic fiber industry, especially polyester has been growing at 8% and it is predicted that it will continue to do so in the future. Also, along with the current apparel demand, there is a blue ocean market for non-apparel. With the EU-Korean FTA will be the detonator for Korea to acquire such demands.”
 
“Of course, this dream will not come true on its own. We must quickly make changes in item and technology so that China and other countries with an advantage in mass production and low cost of raw material cannot catch up easily.” “In this sense, I am confident that Huvis, the company that possesses the world’s No.1 LM(low melting fiber) capa and No.3 polyester fiber capa, along with the basis for the world’s top production technology and new material R&D is most adequate in leading this change,” President Sung-hwan Moon added.
 
Due to CEO Sung-hwan Moon’s ‘detail management,’ Huvis, which was suffering from 3 years of losses, made a operating profit of 16 billion won on the first half of this year, succeeding in turning the company into profit. From the proclamation of the vision, Huvis is showing its ambition to become the 「leader in new fiber technology」 and achieve「top-company profit rate of 6%」, thus proving that the fiber industry is a star, not a declining industry, and it is a cash cow.
 
Huvis also announced its global strategy of making a new success story in the western China from the prediction that the investment in the local polyester fiber production corporation in Sichuan, China will be turning profits this year, after 2 years in operation.
 
* LM(Low melting Fiber)
This is a fiber created from macromolecules that melt in low temperatures around 100~200˚C, the ideal material for being used as non-woven for bonding. Used mainly in mattress, sanitary material, sound absorption, and insulation.
Currently producing 40% of the world’s overall production, and is being exported to 80 countries.