Samyang to Show Its Mettle

Vision 2015 declared on 86th anniversary to ready the group to be a global market leader

Let’s work hard for 10 percent annual growth for Samyang Group by 2015,” declared Chairman Kim Yoon in his speech at a ceremony marking the 86th anniversary of the group on Oct. 1.
The chairman told a gathering of 160 top managers before beginning a walk to climb Mt. Odae in Gangwon Province to celebrate the group’s anniversary, that the next five years will be a critical period for building a base for the group’s goal to be a global concern because a massive investment in R&D activities will be made to back up the new vision.
Kim’s strategy for the new vision is built around the three major areas of business such as chemicals, foodstuffs and medicine to make them bigger in scale and more competitive.
The group plans to take its engineering plastic business overseas for a wider market for the products, which are in a stiff competition with Cheil Textile domestically. The chairman also wants to expand polycarbonate production at a joint-venture firm, Samyang BP, set up with Mitsubishi Corp. of Japan.
In the area of foodstuffs, the group will see that Seven Springs, a restaurant chain the group took over last year, will be turned into a business unit of the group and develop new packaged food items.
The medical business will also be further developed to be able to stand on its own by producing new products like the threads used for closing sutures, which are very competitive in the domestic market.

Chairman Kim wants to see the group come up with new growth engines in the future with great future prospects like Samyang EMS, an electronic information material maker, which the group took over, and Samyang Food and Dining, which the group launched. The new company set up a bakery cafe business called “mix and bake.”
Kim called for the reformation of the group’s culture to include management centered on customers and results in order to achieve the 2015 Vision.
The hiking group trekked the 12.5 km course to the summit of Mt. Odae and back, which started at 10 a.m. and ended at 6 p.m. on Oct. 1, including a stop at Sangwon Temple near the summit and the Biro and Sangwang Peaks.
Before climbing the mountain, they held a small cake-cutting ceremony to celebrate the 86th anniversary at a restaurant on the hills of the mountain.
The mainstay growth engines for Samyang are chemicals, foodstuffs, pharmaceuticals and new businesses.
In the chemicals sector, the existing chemical and industrial material lines will be steadily diversified as Samyang advances into applied areas with added value. In the foodstuffs sector, Samyang builds and maintains industry leadership position in the food ingredients portfolio solutions area for the food processing industry.
In the pharmaceuticals sector, pharmaceuticals and medical devices will be the platform for growth as a global pharmaceutical maker. And in the new businesses sector, the group is advancing into high-growth, value-added areas that are technology intensive, such as materials for advanced information and electronics products. nw

Chairman Kim Yoon of Samyang Group.

Officers of Staff of Samyang Group climbed Mt. Odae in Gangwon Province Oct.1 in commemoration of the group’s 86th founding anniversary on Oct. 1 and declared the 2015 Vision.