The last month of 2013 has arrived. As I looked back through this year, the word ‘eventful’ came across my mind. In this year, we faced many difficulties, but learned a lot from them and we edged our way forward.
The best achievement we made in this year was the construction of Jeonju carbon fiber plant and the success in the world’s first commercial-scale deployment of polyketone.These achievements are the fruition of our efforts to strengthen technological competitiveness pursued since the establishment of our company.
Carbon fiber has great significance for being the new driving force that would not only lead to our future growth, but also contribute to the growth of the creative economy of Korea. In this context, we should be prided ourselves in developing the mass-production technique next to Japan and America. We brought carbon fiber up to the level that does not fall behind that of early entrants in terms of quality and together with our efforts to create a niche, the prospect for this business looks bright.
Polyketone, which is expected to replace the traditional materials used in the engineering plastic market, shows our technological prowess and indomitable determination worldwide in a sense that polyketone was a material that the world’s leading companies have attempted to commercialize, but failed. It also has implications for Korea, as it would serve a springboard for the growth of the country into a base material power. Even the press showed an enthusiastic response to our success in commercialization of polyketone and introduced as ‘a new epoch-making material after nylon’. This is something that we can take pride and confidence in.
Moreover, we expect to gain better results in our key industries than last year. The driving force behind such great results, despite downturn and uncertainties ahead in the global economy, was your efforts and devotion to the company. Through this letter, I’d like to congratulate and thank you all for your hard work.
However, there are many things that concern us as we look into the business conditions next year. It seems that economic uncertainties across the whole world would remain due to the level of quantitative easing reduced by America, economic downturn in rising nations, increase international financing rate and exchange fluctuations. In addition, additional collection amount imposed by the National Tax Service puts strain upon our business program next year.
Top executives are now under investigation by authorities, but they are giving full explanation its stance on the management condition I the past. I’d like to ask you all to not worry about that, and carry out all the responsibilities you are assigned with.
As I mentioned in the commemorative speech in celebration of the foundation day last November, we have a mission to become a company of sustainable growth with the goal of a ‘Hundred-Year Company Hyosung’. If we give up because conditions are difficult and challenging, or grow complacent towards what we have now, we will not be able to achieve our goal. With unfavorable circumstances ahead, the next year will be an important year to demonstrate our determination and capabilities.
What we need most is to have confidence in ourselves with a ‘can-do’ attitude rather than give a deep sign and worry about difficulties we encountered.
This ‘can-do’ attitude here is not an unrealistic optimism blinded by a vague notion of ‘happy end’, but a positive-mind trying to find a way to make things work. ‘The Stockdale Paradox’ in <Good to Great>(2002) by Jim Collins shows that it was always the most optimistic people full of hope to go out soon, not those who threw themselves away to despair, who failed to make it out of the prison alive. They pictured themselves a bright future without foundation, but in the end, died because they could not adapt to the situation they faced. This shows the result of vague, unrealistic optimism. However, people who accepted the harsh realities, but held out and never doubted that they would ‘get out alive’, survived to the last. They are an example of positive-minded doer.
Likewise, we need to accept the harsh realities as they are, but take action to overcome difficulties and thus, grow further. I hope you all to close the year 2013 in a positive, forward-looking attitude and welcome the New Year. 2014 is the Year of the Horse based on the 12-year cycle of animals in the Korean calendar. The horse runs about 400 kilometers without getting tired and it often symbolizes energy, power and loyalty. In this upcoming Year of the Horse, I hope that we take a powerful step forward to the world, like the horse full of energy.
Dear Hyosung members, thank you once again for your service throughout the year.
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