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Hyosung to spin off, relist subsidiariesBy Son Ji-hyoung
Published : Jan. 3, 2018 - 18:25
By no later than June 1 this year, Hyosung will spin off the units, each dedicated to the polyester fiber industry, heavy industries, industrial materials and chemical products, according to a regulatory filing with the Financial Supervisory Service.
The spinoff came two decades after four firms -- Hyosung T&C, Hyosung Living Industry, Hyosung Heavy Industries and Hyosung Trading Company -- merged into a corporation in 1998 in the wake of a nationwide financial crisis.
Hyosung is the 58th-largest firm on the Kospi, with 5.2 trillion won ($4.9 billion) in market cap, as of Wednesday’s close.
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