Hyosung (004800) has established an "AI Convergence Institute" to drive company-wide artificial intelligence transformation (AX) and the development of high-value-added new products.
Hyosung said Wednesday that it had set up the AI Convergence Institute under its holding company and recruited Maeng Sung-hyon, professor emeritus at the Korea Advanced Institute of Science and Technology (KAIST), as its inaugural institute head with the rank of executive vice president. The institute is tasked with devising how to integrate AI across the group. While the existing Hyosung Technology Institute handled individual technology development, the new institute designs the direction for technology utilization centered on AI, working in tandem with it.
Building on the institute's establishment, Hyosung plans to pursue "application- and convergence-oriented research and development" by combining the latest AI technology with the manufacturing expertise it has accumulated in heavy industry, textiles, and chemicals. In particular, the company intends to use AI not merely as a tool for improving work efficiency or cutting costs, but as a core driver leading the development of high-value-added new products and the design and execution of future new businesses at key affiliates including Hyosung Heavy Industries (298040), Hyosung TNC (298020), and Hyosung Chemical (298000).
The company also presented its ambition to advance smart factories by integrating AI with its existing manufacturing expertise, foster a culture of innovation across manufacturing sites, and solidify its status as a global "First Mover."
Maeng, who will lay the foundation for the institute, is regarded as one of Korea's leading AI technology experts. He served as a professor at Syracuse University in the United States and at KAIST's School of Computing, and has conducted research for more than 30 years in the fields of semantic information retrieval, text mining, and natural language processing. Over the past eight months, he served as Hyosung's AI advisor and delivered special lectures to executives and staff to strengthen their AI capabilities.
Hyosung said, "We will secure not only the core technical personnel needed for AX, but also next-generation talent combining industrial field expertise with AI utilization capabilities." The company is reviewing plans to give priority to bringing into the institute executives and staff who have performed AI-related work within affiliates or participated in smart factory and digital transformation (DX) initiatives. In parallel, it plans to expand its workforce by also recruiting external experts.
