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- Strategic raw material agreement supports the plan to triple eco-friendly steel tire cord sales by 2027
- Expands sustainable product portfolio to align with global tire manufacturers' low-carbon sourcing goals
SEOUL, South Korea, June 18, 2025 /PRNewswire/ -- HS HYOSUNG ADVANCED MATERIALS signed a memorandum of understanding (MOU) with Tata Steel (Thailand) on June 18th for the procurement of lower-carbon steel wire materials.
Under the agreement, HS HYOSUNG ADVANCED MATERIALS will secure a reliable supply of low-emission steel wire materials required for the production of steel tire cord. Tata Steel (Thailand), a subsidiary of India's Tata Group, uses electric arc furnace (EAF) technology to produce steel from recycled scrap metal. Compared to traditional blast furnace operations, EAF production achieves significantly higher energy efficiency and reduces carbon emissions by approximately 60%. By utilizing these materials as raw inputs, HS HYOSUNG ADVANCED MATERIALS can produce and supply eco-friendly steel tire cords with significantly reduced carbon footprints.
Given their higher margins compared to traditional steel products, eco-friendly steel tire cords are expected to strengthen the profitability and competitiveness of HS HYOSUNG ADVANCED MATERIALS' steel tire cord operations.
"We are pleased to formalize this agreement, which ensures long-term access to environmentally responsible steel," said Nak Yang Seong, CEO of HS HYOSUNG ADVANCED MATERIALS. "This aligns with our strategy to support global tire makers in their shift toward sustainable materials."
Steel tire cords produced by HS HYOSUNG ADVANCED MATERIALS are crucial reinforcement materials that enhance tire durability and maintain shape stability. The importance of high-strength steel cords is growing alongside the expanding electric vehicle tire market. Furthermore, as demand for sustainable raw materials grows across developed markets, particularly in Europe, sales of eco-friendly steel tire cords are steadily rising. HS HYOSUNG ADVANCED MATERIALS aims to expand the sales share of its eco-friendly steel tire cord products from 5% in 2025 to 15% in 2027.
HS HYOSUNG ADVANCED MATERIALS' commitment to sustainability management was recognized last October when the company received the Platinum Medal from EcoVadis — the highest distinction awarded to the top 1% of over 130,000 companies across 180+ countries by the global supply chain ESG ratings provider. In December, the company was also added to the Dow Jones Sustainable Management Index (DJSI) Korea for the second consecutive year, one of global leading ESG benchmarks.
- Strategic raw material agreement supports the plan to triple eco-friendly steel tire cord sales by 2027
- Expands sustainable product portfolio to align with global tire manufacturers' low-carbon sourcing goals
SEOUL, South Korea, June 18, 2025 /PRNewswire/ -- HS HYOSUNG ADVANCED MATERIALS signed a memorandum of understanding (MOU) with Tata Steel (Thailand) on June 18th for the procurement of lower-carbon steel wire materials.
Under the agreement, HS HYOSUNG ADVANCED MATERIALS will secure a reliable supply of low-emission steel wire materials required for the production of steel tire cord. Tata Steel (Thailand), a subsidiary of India's Tata Group, uses electric arc furnace (EAF) technology to produce steel from recycled scrap metal. Compared to traditional blast furnace operations, EAF production achieves significantly higher energy efficiency and reduces carbon emissions by approximately 60%. By utilizing these materials as raw inputs, HS HYOSUNG ADVANCED MATERIALS can produce and supply eco-friendly steel tire cords with significantly reduced carbon footprints.
Given their higher margins compared to traditional steel products, eco-friendly steel tire cords are expected to strengthen the profitability and competitiveness of HS HYOSUNG ADVANCED MATERIALS' steel tire cord operations.
"We are pleased to formalize this agreement, which ensures long-term access to environmentally responsible steel," said Nak Yang Seong, CEO of HS HYOSUNG ADVANCED MATERIALS. "This aligns with our strategy to support global tire makers in their shift toward sustainable materials."
Steel tire cords produced by HS HYOSUNG ADVANCED MATERIALS are crucial reinforcement materials that enhance tire durability and maintain shape stability. The importance of high-strength steel cords is growing alongside the expanding electric vehicle tire market. Furthermore, as demand for sustainable raw materials grows across developed markets, particularly in Europe, sales of eco-friendly steel tire cords are steadily rising. HS HYOSUNG ADVANCED MATERIALS aims to expand the sales share of its eco-friendly steel tire cord products from 5% in 2025 to 15% in 2027.
HS HYOSUNG ADVANCED MATERIALS' commitment to sustainability management was recognized last October when the company received the Platinum Medal from EcoVadis — the highest distinction awarded to the top 1% of over 130,000 companies across 180+ countries by the global supply chain ESG ratings provider. In December, the company was also added to the Dow Jones Sustainable Management Index (DJSI) Korea for the second consecutive year, one of global leading ESG benchmarks.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
HS HYOSUNG ADVANCED MATERIALS Signs Long-Term Supply MOU with Tata Steel (Thailand) for Lower-Carbon Steel Wire Materials
DIRIYAH, Saudi Arabia, Jan. 12, 2026 /PRNewswire/ -- Stemming from the joint announcement made on December 9, 2024, regarding the launch of two Trump-branded developments in Riyadh, Dar Al Arkan in collaboration with Dar Global and The Trump Organization are proud to reveal the first of those landmark projects, The Trump International Golf Club, Wadi Safar, a sprawling 2.6 million square meter site in Wadi Safar, the exclusive masterplan being developed by Diriyah Company.
The site will be home to the Trump International Golf Club, Wadi Safar, a world-class gated community featuring a Trump-branded championship golf course, a luxury Trump hotel, and premium residences overlooking the region's dramatic wadis and the golf vistas. Trump International Golf Club, Wadi Safar will blend world-class hospitality, architecture, and lifestyle in a setting that pays tribute to the cultural and natural heritage of the Kingdom.
Eric Trump, Executive Vice President of The Trump Organization, said: "We are proud to expand our presence with this landmark development in Wadi Safar. Trump International Golf Club, Wadi Safar will redefine luxury and excellence in the region, setting a new standard that reflects the brand's enduring commitment to quality, prestige and timeless elegance. We look forward to creating a destination that complements the rich heritage of the region while delivering a global standard of luxury living."
Yousef Al Shelash, Chairman of Dar Al Arkan, said: "This new project represents a vision to deliver a destination that captures the prestige and the legacy of the Trump brand. With Dar Global leading the development, we are confident this will become a flagship destination not just for Saudi Arabia, but for the world."
Ziad El Chaar, CEO of Dar Global, added: "Dar Global is proud to collaborate with Diriyah Company and Dar Al Arkan on the development of Trump International Golf Club, Wadi Safar. We have delivered landmark projects across Europe and the GCC in partnership with globally recognized luxury brands. Bringing this experience to the Diriyah project, we will deliver a destination that combines heritage, elegance, and world-class standards, making Trump International Golf Club, Wadi Safar a truly iconic address."
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
DAR AL ARKAN, IN COLLABORATION WITH DAR GLOBAL AND THE TRUMP ORGANIZATION, TO DEVELOP TRUMP INTERNATIONAL GOLF CLUB, WADI SAFAR - THE FIRST OF TWO LANDMARK PROJECTS IN RIYADH
