Samyang Group is going all-out to be reborn as a global R&D innovative conglomerate through its ambitious "2015 vision."
Kim Yoon, chairman of Samyang Group, said, "We are striving to secure powerful market leadership through selection and concentration in three core projects, chemicals, foods and medicine. In line with this, we are building new growth engines by actively challenging new projects." Noting that Samyang places its focus on strengthening its R&D ability, which is the core of future growth, Chairman Kim said, "Samyang has integrated research centers, which had been previously separated by the business sector, under five categories of chemicals, foods, medicine, information/electronics/materials, and biotechnology."
Meanwhile, about 180 Samyang Group chairmen, executives, and staff members climbed Mt. Sobaek on Oct. 12 to celebrate the 88th anniversary of the groups' founding, and held a ceremony at a restaurant near the mountain after finishing the seven-hour climbing course. Delivering an address at the ceremony, Chairman Kim said, "To prepare for the greater and brighter future of Samyang, we have to exert all-out efforts to enhance competitiveness, challenge new projects, and stay abreast at keeping up with the new business environment.”
"All of us have to join forces and make the 88th anniversary a turning point for Samyang's new take-off. By doing so, we can maintain our group's long-lasting proud history into the future." Under a corporate philosophy that actively pursues the right path of management and instills confidence, Chairman Kim Yeon-su established Samyang Corp. in 1924 with a dream of contributing to national development by fostering industries. In keeping up with the needs of the times, Samyang previously engaged in the sugar manufacturing business in 1955 and polyester textile business in 1969, supplying clothes and foods to Korean people.
Since then, Samyang has expanded its business arena to chemicals, foods, medicine, industrial materials, containers, and trade sectors. In 2000, it separated the textile business sector from the group and established a joint venture company, Huvis. Celebrating the 80th anniversary of its founding in 2004, Samyang announced its new corporate image (CI) under the vision of the "company pursuing affluent and convenient life." It also took over Samyang Wellfood, a margarine and cooking oil maker, Samyang EMS, an information and electronics material maker, and Seven Springs, an environmentally-friendly restaurant; while building an engineering plastic compound factory in China.
The group has been pushing ahead with endless changes after setting chemicals, foods, medicine, and new projects as its core business sectors. In 2011, when it was converted into a holding company system, Samyang established a responsible management system through specialization of each business lines to enhance its corporate value in the market. The group also completed the construction of a plant producing Bisphenol A (BPA), an organic compound with the chemical formula (CH3)2C( C6H4OH)2, in 2012, building a vertical-type business system for the group's chemical business. In the medicine and bio fields, the group has achieved many significant results, including being granted European permissions and certification given to an innovative pharmaceutical company.
