Hyosung president Cho Hyun-sang had a meeting with visiting Luxembourg Prime Minister Xavier Bettel in Seoul on July 2 at the latter’s request.
According to Hyosung, the prime minister expressed his gratitude for Hyosung’s stable operation of its tire cord manufacturing facilities in Luxembourg and discussed more economic cooperation with South Korean companies.
Hyosung took over tire cord manufacturing facilities in Luxembourg in 2006 and 2010. The facilities are currently producing fiber cords and steel cords, which are all exported to European countries.
Hyosung and the Luxembourg government have maintained a very close relationship with each other. For example, Prince Guillaume Jean Joseph Marie, Hereditary Grand Duke of Luxembourg, visited Hyosung’s main office and plant in Seoul in 2011 and 2014 when he visited Korea leading an economic delegation. Each time, he had dinner with Cho.
The late Hyosung adviser Song In-sang, Cho’s maternal grandfather and a former South Korean finance minister, also had a special rapport with Europe. He was the South Korean ambassador to the European Community (EC) back in 1974.