A Holding Co.
for Samyang Group

Conglomerate changes its management based on the 2015 Vision to focus on R&D activities in chemical, food and medicine areas

Conglomerate changes its management based on the 2015 Vision to focus on R&D activities in chemical, food and medicine areas
Samyang Group has decided to convert to a holding company system to boost its corporate value and strengthen the independent management of its affiliates.
The board of directors of the group in a meeting on Aug. 10 decided to upgrade Samyang Co., into a holding company with three affiliates, including Samyang Co. and Samyang Bio Co., to be reorganized later, the group said recently.
The plan will be finalized at the shareholders'meeting in September and implemented on Nov. 1, which will reorganize Samyang Co. into chemical, food and others, while Samyang Bio Co. will take charge of the pharmaceutical sector.
Each investor holding 100 shares will be entitled to 57.46 shares of the new holding company and 42.54 shares of affiliate companies. Samyang Co. and Samyang Holdings Co. will list their shares on the Korea Exchange on Dec. 5, while Samyang Bio Pharma will remain a non-listed firm.
By setting of a holding company, the group aims at boosting the transparency of its management and also its corporate value, while strengthening a responsible management system through professionalism, officials of the group said.
Samyang Holdings will have plenty of its affiliates in the chemical sector such as Samyang Co., Samnam Petrochemical, Samyang EMS, Samyang Inochem, Samyang Shangh, Samyang EPO Hungary. The food sector will include Samsung Genex, Samyang Milmax, Samyang Wellfood, Seven Springs, Samyang F&D, Jinwhangdo Samyang Genex Food, and in the area of medicine, Samyang Bio Pharm and others.
Samyang Co. financial statement showed that its total assets amounted to 1.640 trillion won and debts totaled 624.9 billion won, which will be divided up between the newly-created Samyang Holding and Samyang Co.
Samyang Group announced its 2015 Vision, which is focused on its operation of R&D activities. Through 2015, the group intends to do all it can to keep its growth in the areas of chemicals, foods and medicine through selection and concentration in its operations.
According to the company, The mainstay growth engines for Samyang are grouped as chemicals, foods, pharmaceuticals and new businesses. The core competencies of R&D and technology expertise are being leveraged to diversify, upgrade and globalize these key growth areas. It the same time, the corporate culture continues to advance. A customer-centered approach is being applied to earn trust. Samyang is also recruiting and training talented people, who are evaluated fairly and compensated according to performance results.
The spirit of challenge and innovation is a platform for constant improvement. Samyang continues to grow as a rewarding place to work and to develop the best products and services to satisfy customers. At the same time, the group is now going global to provide shareholders with ever better returns on investment. Celebrating the 80th Anniversary in October 2004, Samyang promulgated the 2010 Samyang Vision that included a sales goal of $6 billion and has taken on a new corporate vision as company of Ingredients that Add Value to Life.
In the Chemicals sector, the existing chemical and industrial materials lines will be steadily diversified as Samyang advances into applied areas with added value. In the Foodstuffs sector, Samyang builds and maintains an industry leadership position in food ingredients portfolio solutions for the food processing industry.
In the Pharmaceuticals sector, drugs 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.

Photo on Courtesy of Samyang Group