Vice Chairman Cho Hyun-sang of HS Hyosung attended the World Economic Forum (WEF, Davos Forum) and met with leaders of global chemical corporations to step up cooperation on global supply chains.
HS Hyosung said on the 21st that Vice Chairman Cho was officially invited to and attended one of the core sessions of the Davos Forum, the "Chemical Governors Meeting."
The Chemical Governors Meeting is where top executives of major chemical corporations gather to discuss the future of the global chemical industry. More than 10 global chemical corporations, including Germany's BASF, the United States' Dow, Saudi Arabia's SABIC, and HS Hyosung, attended.
At the meeting, Vice Chairman Cho discussed strategies to respond to the impact of recent geopolitical risks surrounding global supply chains on the chemical industry and the long-term ripple effects of capacity expansions in the Middle East and China. He then shared HS Hyosung's eco-friendly materials and low-carbon transition strategy and exchanged views on sustainable growth plans.
During this schedule, Vice Chairman Cho met in person with Francois-Philippe Champagne, Canada's Minister of Finance, and emphasized that Korean corporations are contributing to global supply chains, including in North America. The meeting was arranged at the request of Minister Champagne.
Vice Chairman Cho met with Devendra Fadnavis, chief minister of Maharashtra, India, who attended the Davos Forum, and discussed local investment plans to target the Indian market. Located in western India, Maharashtra is the country's largest industrial hub, accounting for 15% of India's total industrial production and about 14.7% of gross domestic product (GDP).
Vice Chairman Cho has regularly attended the Davos Forum and was selected as a "Young Global Leader" by the World Economic Forum. He was also the only Korean named to the "YGL G20 Initiative," the young global leaders' organization of the Group of 20 (G20).
Vice Chairman Cho said, "We will continue to strengthen communication with corporations and governments in each country for the development of the nation and corporations, and pursue cooperation for eco-friendly and low-carbon transition and the establishment of stable global supply chains."