HS Hyosung Plans Mexico Materials Hub
HS Hyosung is teaming up with the state of San Luis Potosi in Mexico to establish an advanced materials production base targeting the North American market.HS Hyosung signed an investment memorandum of understanding (MOU) with the San Luis Potosi state government at the Korea-Mexico Business Forum h
HS Hyosung is collaborating with the Mexican state of San Luis Potosi to create an advanced materials production facility aimed at the North American market. The company inked a Memorandum of Understanding (MOU) with the San Luis Potosi state government during the Korea-Mexico Business Forum at the World Trade Center in Mexico City on September 25.
The agreement aims to boost the advanced materials production and supply base through large-scale local investments starting in 2027. Both Marcelo Ebrard, Mexico's Minister of Economy, and Mario Garcia Valdez, San Luis Potosi's Minister of Economic Development, were present at the signing ceremony, underscoring their dedication to the partnership.
HS Hyosung representatives met with Minister Ebrard to discuss particular local investment plans and broader business expansion strategies, reviewing the government's support framework. Currently, HS Hyosung manufactures advanced materials for aerospace, defense, and energy sectors, holding the top global market share in tire cords.
Sung Nak-yang, CEO of HS Hyosung Advanced Materials, stated, "This investment is a strategic move to position Mexico as a crucial link between North American and global markets, and we will bolster the Mexican industrial ecosystem by enhancing the local supply chain and generating employment opportunities." With this MOU, HS Hyosung intends to develop comprehensive execution plans before launching full-scale investment in 2027.
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