Fruit of Growth
- Samyang declares 24 pct dividend and 53 bln won profit for 2004

Samyang Corp. held the general meeting of shareholders and the board of directors for period 54(January-December 2004) on Feb.3 to report on its business performance for the period. Chairman and CEO Kim Yoon was reelected a chairman and CEO, and Shin Chan-su was reelected as outside director. It was also decided at the meeting that a cash dividend of 1,150 won(23%) and 1,200 won(24%) would be paid to shareholders of common stock and preferred stock, respectively.
The company recorded the sale of 890.2 billion won and net income of 53 billion won for period 54 and set its target sales revenue for period 55(January-December 2005) at 1 trillion won.
Chairman Kim was born in Seoul in 1953 and graduated from Korea University in 1979 with a degree in business administration. He then earned an MBA from Monterey Institute of International Studies in the U.S. in 1983. After joining the company in 1985, Kim was appointed director in 1990, after having worked at the Tokyo branch, the Ulsan plant, and with Technology Export Team. Kim was promoted to managing director and CEO in 1993, president and CEO in 1996, vice chairman of the group and CEO in 2000, and chairman and CEO in 2004.
Samyang hosted a special event to celebrate its 80th founding anniversary and following goals were announced at the event. To reach 5 trillion won in sales by 2010 with an investment of 2 trillion won and to achieve a 20-percent return on investment. To invest in and develop core business groups such as chemicals, foods and pharmaceuticals as well as new business sectors.
To create more youthful and customer-oriented corporate image by changing the company's corporate identity.
The Samyang Group has designated chemicals, foods, and pharmaceuticals, as well as new divisions as its core business groups and plans to invest 2 trillion won from now through 2010 to reach its goal of topping 5 trillion won in sales and a return on investment in excess of 20 percent.
At the special event, some 5,000 people turned out at the Coex Convention Center's Atlantic Hall to celebrate the 80th anniversary of its founding on Oct.1, 1924.
Notable guests included Kim Sang-hong, honorary chairman, and Kim Sang-ha, group chairman, as well as numerous executives and employees. At the event, officials outlined the group's mid-to long-term vision along with its new corporate identity.
In addition, the group established the "Sudang Award" to uphold and develop the patriotic spirit of Sudang Kim Yeon-su. The award, with the stated aim of recognizing persons of merit who have contributed to national and social advancement, will be given out starting in 2005.
In his congratulatory speech, Group Chairman Kim said: "The last 80 years were, in short, a journey of challenge representing the hardship Samyang has endured and a series of choices made." He added that it is "gratifying and makes me proud to know that Samyang was a driving force in the economic development of Korea during the last 80 years."
Following the speech, Kim Yoon, chairman and CEO of Samyang Corp., announced the corporation's new vision as one "that makes the lives of people richer and more comfortable." The chairman also revealed Samyang's plan to diversify existing businesses, to create a more sophisticated business structure, and to pursue globalization by joining overseas markets based on the corporation's core competencies such as R&D and technical capabilities.
More specifically, the plan calls for diversifying the chemicals vision by entering high value-added applied sectors such as industrial materials targeting the global market, and for building up the foods division by focusing on foodstuffs and practical foods.
Samyang announced its new corporate identity- "Life Ingredients" -in tandem with the publication of a company history book that traces events from 1924 to the present. nw