Hyosung Corp., a leading textile manufacturer in Korea, will speed up its market expansion into the fast-growing Chinese spandex market as part of its efforts to bolster its global market leadership, the company said Wednesday.

“The Chinese spandex market, which makes up 57 percent of total global demand, has annually grown more than 6 percent. Hyosung continue to expand business activities to lead the fast-growing Chinese spandex market and so to reinforce its global market leadership,” Cho Hyun-jun, president of Hyosung Corp., the de facto holding company of Hyosung Group, said.

His comments came during the Intertextile Shanghai Apparel Fabrics 2013, the world’s largest apparel exhibition that opened at the Shanghai New International Expo Center on Monday for a four-day run.

Hyosung’s textile performance group, led by president Cho, is participating in the event with its spandex brand Creora, the world’s top brand.

Unlike in the past, Hyosung is running its booth together with five small-and mid-sized local vendors and 17 Chinese clients in a bid to promote shared growth with suppliers and clients, the company said. During the event, Hyosung also introduced an array of renewed textile and apparel products based on Creora.

Hyosung is currently the No.1 spandex maker in China. The company runs three spandex production sites and 16 sales offices in China.

By Seo Jee-yeon (jyseo@heraldcorp.com)