• Upon obtaining the world's first ISCC PLUS certification for tirecord, Hyosung Advanced Materials will expand its bio-based PET and recycled PET products

SEOUL, South Korea--(BUSINESS WIRE)--Hyosung Advanced Materials Corp. (Hyosung Advanced Materials) (KRX: 298050) has obtained the International Sustainability & Carbon Certification (ISCC) PLUS, a global sustainability certification program for bio-based and circular (recycled) raw materials.

ISCC PLUS is presented to sustainable and low-carbon products that meet the Renewable Energy Directives (RED) of the EU. This certification is recognized to be highly reliable across the globe as it requires strict verification of the entire process from raw material supply to production and distribution.

Hyosung Advanced Materials is the first tirecord player to acquire the ISCC PLUS certification through the application of eco-friendly raw materials, such as bio-based PET, mechanical recycled PET, and chemical recycled PET in its tirecord products. Hyosung Advanced Materials developed tirecords using sustainable materials - �industrial bio-PET yarn� using plant-derived materials, and �high-strength recycled PET yarn� using materials extracted from waste PET bottles. In addition, to respond to more diverse environmental needs, the company is developing �bio-based nylon� yarn and tirecords.

It is relatively difficult to obtain the sustainability certification for raw and other materials, and winning the certification holds great significance as it indicates the contribution to the expansion of eco-friendly products in the downstream industries. Amid the society�s growing interests in sustainability, automakers, such as BMW, are increasing their use of eco-friendly materials. Global tire companies including Bridgestone Corp. and Hankook Tire & Technology have also obtained the ISCC PLUS, signaling that interests and demand are increasing as for eco-friendly products.

Hyosung Advanced Materials CEO Lee Kun-jong said, �I believe that our efforts for R&D to enhance sustainability have been recognized by obtaining the ISCC PLUS certification. Setting this as a momentum, we will lead the eco-friendly product market by strengthening cooperation with global customers.�

Hyosung Advanced Materials is pursuing R&D activities in line with its three strategic directions of green management, which are �Zero Emission,� �Zero Waste,� and �Zero Impact.� The company is in transition to eco-friendly materials replacing all of its conventional polyester tirecord to sustainable materials by 2050 to keep pace with global tire makers. In addition, Hyosung Advanced Materials� industrial yarn has obtained the GRS (Global Recycled Standard), and its car mats made of Bio-PET yarn have been applied to the latest electric and fuel cell electric vehicle models. As such, Hyosung Advanced Materials is expanding eco-friendly products in various business sectors.

Contacts

Hyosung Advanced Materials Corporation

Lee Seong-jae, Senior Manager

+82 2-707-7059

[email protected]