Huvis (CEO Shin, You Dong, 079980), specializing in chemical materials, said on Jan 2 that it held its year-opening ceremony at individual workplaces physically, instead of the virtual ones that had been used for the previous 2 years due to the Covid-19 pandemic, but with a limited number of members present. It also announced an organizational change for 2023.

“Last year we struggled to survive in an unprecedentedly disadvantageous business environment,” said the CEO at the ceremony held at the head office where over 100 executives and employees were in attendance. “Still, to achieve sustainable growth, we continued to invest aggressively in smart fiber, brought ESG-driven operations to a higher level based on our carbon neutral master plan, and consolidated our IT foundation through a DX project.” He also said strongly, “This year our priority will be to reduce cost and bring our profitability back to normal to ensure our survival.”

To achieve this, he urged the elimination of inefficient or unnecessary tasks and the reduction of costs through higher operational efficiency. “We should work towards better cash flow management to be more financially sound, enhance the competitiveness of our core businesses, and gain a competitive advantage in fast-growing electric vehicles and pro-environment businesses based on highly functional and differentiated material,” adds the CEO.

“This year, I hope to see the company make a dramatic turnaround based on what we learned from last year's difficulties,” said Kim Geon-ho, Chairman of the Board of Directors and President. “I'd like to see the company consolidating its position as a global leader in green, highly functional, differentiated materials by innovating all parts of the company from marketing to production, purchase and R&D.”

HUVIS has made an enterprise-wide organizational change designed to increase its efficiency and flexibility with a view to riding out the crisis and improving its competitiveness in the company’s core businesses.
As part of the change, stable yarn, which used to be managed by two departments, is now managed under a single department to increase its market competitiveness and gain synergy. Filament yarn, industrial materials and household materials are now managed by the Material Business Headquarters. The company also has a new department called the Strategic Business Group, which is responsible for reinforcing strategic businesses. One responsibility of the Strategic Business Group is to manage the portfolio of the company's local and overseas strategic business and its performance.

Other organizational changes intended to ride out the  crisis facing the company and improve its competitiveness include the i) creation of two deputy director positions within its Jeonju site, who will be responsible for management and production, respectively, for clarification of roles and responsibilities, and the ii) transformation of its R&D organization for more focused R&D capability and faster and better communication.    (The End)


[Photo 1] HUVIS holds a year-opening ceremony on January 2, confirming its commitment to achieving its goals for 2023. Representatives of executives and employees, including CEO Shin You Dong (second from the left) and President Kim Geon-ho (third from the left), cut the cake at the year-opening ceremony.


[Photo 2] CEO Shin You Dong (leftmost) greets employees at the year-opening ceremony on January 2, 2023.