It’s no stretch to say spandex is behind Hyosung’s success

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It’s no stretch to say spandex is behind Hyosung’s success

Hyosung saw its operating profit in the first three months surge 174 percent year-on-year to 96 billion won. The company said its operating profit largely improved thanks to the continuing popularity of spandex, while most of its major businesses including industrial material, petrochemical and heavy industry did better.

Sales fell 4.2 percent to 3.4 trillion won due to its heavy industry sector. However, Hyosung said it suffered a 11.4 billion won net loss, a huge turnaround from 30.5 billion won net profit last year that was largely caused by the strengthening won.

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