HwaYoung

Dongui University, awarded honorary doctorate degree to Pyo Geun-bong, chairman of Hwayeong Autotech Co., Ltd.

A Study on the Development and Practical Use of Automotive Parts for the Construction of Super-Class Companies

Dongui University (President Gong Soon-jin) presented an honorary doctorate in engineering to Pyo Geun-bong, chairman of Hwayoung Autotech Co., Ltd., at Seokdang Art Hall in the International Hall of Art on March 9 at 11 a.m.

Born in Danyang, North Chungcheong Province in 1961, Pyo Geun-bong started with six employees at Busan Sasang Industrial Complex in 1993 and has now grown into a small business with 200 employees and 165 billion won in annual sales (as of 2014) within 20 years of its establishment, including Hwayoung Techwin Co., Ltd. and Hwayoung Global Co., Ltd.

Hwayoung AutoTec Co., Ltd., based in Noksan Industrial Complex in Busan, specializes in producing wheel hub, wheel hub outer ring and automatic transmission parts, which are key components of cars. The products produced are supplied to Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Ssangyong Motor Co. and other foreign carmakers through bearing manufacturers (world's MAJOR bearing companies such as Iljin Bearing Co., Ltd.) and direct and indirect exports account for 70 percent of them.

Kim Tae-kwan, dean of Dong-ui University's Graduate School, said in a recommendation letter, "We award you an honorary doctorate in engineering for your achievements in building a top-tier company through the development and commercialization of new technologies for auto parts."

"I've been running a company for over 20 years with the belief that I shouldn't neglect a small thing," Pyo Geun-bong said in his essay. Through technology development and eco-friendly high-tech development, we will make Hwa-young a global core automotive parts group based on global quality, technology and talent," he said. "It is an honor to be part of a consensus that produces many talents who respond creatively to the rapidly changing global world and leads the future."

"I can see that Chairman Pyo Geun-bong is constantly developing himself even after graduating from college," said President Gong Soon-jin in his speech. We hope that we will actively engage in industry-academic-research-related exchanges in the future and contribute to the development of the national economy as well as the auto industry as a whole."

Kim In-do, chairman of Dongui Academy, a school corporation, said in a congratulatory speech, "I was deeply impressed to hear that Chairman Pyo Geun-bong is very inquiring about new knowledge and new technologies," and added, "Chairman Pyo Geun-bong entered the 19th phase of Dongui University's industrial best strategy course in 2010 and served as the alumni chairman." Dongui University and Hwayoung Autotech Co., Ltd. also signed an industry-academic cooperation with Dongui Technical High School under Dongui Academy. We sincerely hope that we will continue to work with Dongui University to become a global company.

Pyo graduated from Kyungwon University of Technology in 1981 and completed the best industrial strategy course at Dongui University's Graduate School of Industry in 2011, and completed the Boston University CEO course, the Small and Medium Business Corporation CEO Luxury Academy, and the International Newspaper Political Academy. In addition, Pyo was awarded the Presidential Committee on Small and Medium Business in 2006, the Minister of Knowledge Economy in 2009, and the Minister of Employment and Labor in 2013, and was selected as an excellent company to improve productivity (Minister of Knowledge Economy), the Mayor of Busan Metropolitan City, and the best company to work for.

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