Choi Hyun-sung, vice chairman of HS HYOSUNG and Lee Kyu-ho, vice chairman of KOLON, are drawing attention by uniting to ensure the successful hosting of the Asia-Pacific Economic Cooperation (APEC) summit at the end of October in Gyeongju while continuing their fierce patent litigation without compromise. The two are working together as members of the APEC Business Advisory Council (ABAC), representing the Korean economy.
Vice chairman Choi and vice chairman Lee are reported to attend the third ABAC meeting, which will be held from the 15th to the 18th of next month in Haiphong, Vietnam. ABAC is a consultative body established in 1995 to convey the voices of member corporations to APEC leaders. Currently, 21 APEC member countries appoint three business leaders as ABAC Commissioners.
In Korea, last year, vice chairman Choi, vice chairman Lee, and Lee Ju-wan, chairman of Megazone Cloud, were appointed as the 2025 ABAC Korea members. As Korea takes on the role of chair for the 32nd APEC summit this year, vice chairman Choi was elected ABAC chair. As ABAC chair, vice chairman Choi is actively participating in various meetings, including presiding over four regular ABAC meetings, APEC preparatory committee meetings, and APEC CEO Summit preparation meetings.
Vice chairman Lee serves as the chair of the Biohealthcare Working Group, one of the five committees under ABAC. Kolon Group is focusing on the pharmaceutical and bio sectors as future growth areas.
Vice chairman Choi and vice chairman Lee also attended the first meeting in Brisbane, Australia, in February and the second meeting in Toronto, Canada, in April. The final fourth meeting is scheduled to be held from October 26 to 28 in Busan.
Both vice chairman Choi and vice chairman Lee studied abroad and are noted for their fluency in communication with foreign business leaders and government officials. Vice chairman Choi graduated from Brown University in economics in the eastern United States, while vice chairman Lee, who was born in the U.S., graduated from Cornell University in hotel management.
In the business community, there is a notable reaction as vice chairman Choi and vice chairman Lee are seen collaborating while HS HYOSUNG and KOLON, longstanding competitors in the domestic textile and chemical market, are entangled in a fierce legal dispute over patents for tire cords (reinforcing fibers used inside tires). HS HYOSUNG's key affiliate, HS Hyosung Advanced Materials, and Kolon Group's chemical materials company, Kolon Industries, have been involved in litigation for years over the Hybrid Tire Cord (HTC) patent in both Korea and the United States.
HTC is a product made by mixing high-performance fibers aramid and nylon, offering superior support and durability compared to standard tire cords. Currently, HS HYOSUNG holds more than half of the global market share for polyester (PET) tire cords, but both sides are competing fiercely to gain control in the HTC sector, which is deemed the next key product area. This is because demand for tire cords for electric vehicles is expected to surge as the electric vehicle market expands.
In Korea, HS Hyosung Advanced Materials has had its patent invalidation trial partially dismissed and partially rejected by the Patent Trial and Appeal Board in early last year, and an appeal process is currently underway. In the United States, Kolon Industries filed a lawsuit against HS Hyosung Advanced Materials and HS HYOSUNG USA in a federal court in California last year for infringing the HTC patent. HS HYOSUNG requested the U.S. Patent and Trademark Office to invalidate Kolon's HTC patent in February this year. Following this, HS HYOSUNG asked the California court to stay the litigation initiated by Kolon until the patent invalidation trial concludes, and the court accepted this request.
A business community official noted, "It is good to see vice chairman Choi and vice chairman Lee engaging in a prideful battle in the tire cord sector, which is a core business for their groups, while still coming together with smiles for the national interest."