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  • Samyang Group 2021.11.16
    Samyang Group Hosts “Samyang Innovation R&D Fair 2021”
    Samyang Group Hosts “Samyang Innovation R&D Fair 2021”

    - An annual event to exhibit research results to promote R&D motivation and share knowledge within the group - Exhibition and awarding of outstanding research results... Three awards, including one grand prize and two excellence awards - “The goal is to expand the global market and reorganize the business structure,” said Chairman Kim to improve the speed and success rate of commercialization   ▲ Reference Introduction of SIRF 2021 Award-Winning Projects   Samyang Group (Chairman: Kim Yoon) finds the keys to maximizing existing business performance and discovering new businesses in R&D.   Samyang Group announced that it held the Samyang Innovation R&D Fair (SIRF) 2021 at Samyang Discovery Center in Pangyo on November 10.   SIRF is an event that displays and shares the year’s research results at all research institutes under Samyang Group (i.e. Foodstuffs, Chemicals, Biopharmaceuticals, Convergence Materials Research Institute, Samyang Packaging Tech Center, and KCI Research Institute). Since 2012, Samyang Group has held annual events to increase R&D motivation and share knowledge.   This year’s SIRF minimized the number of on-site attendees and exhibitions to comply with COVID-19 protocols and streamed the event online following last year.   At this year’s SIRF, Samyang Group held an award ceremony for outstanding tasks and the project exhibition, encouraged research and development motivation, and shared research results by presenting projects.   For SIRF 2021’s Excellence Awards, Foodstuffs Research Institute’s “development of next-generation allulose sweetener” won the grand prize, while two tasks jointly won the excellence prize: Chemical Research Institute’s “development of PC/PBT materials for automotive interior components” and KCI’s “development of high-quality hypoallergenic emulsion-type thickener.”   At this awards ceremony, the grand prize winner was selected for the first time in 10 years, making it a more meaningful 10th anniversary of the SIRF. The SIRF Excellence R&D Awards are selected considering profits, contribution to company competitiveness, innovation, and creativity. The grand prize is given only to tasks with economic performance, innovation, and creativity.   On the same day, Chairman Kim Yoon asked the researchers via the in-house intranet, saying, “The core goal of the growth plan is to reorganize the business structure to expand specialty products (high value-added products) and global markets. We hope that the institute will work more closely with the business department and increase the speed of commercialization and success rate, which will be the driving force behind the achievement of the goal.”   ■ Reference Promoting specialty products and global market expansion based on R&D performance Samyang Group is promoting to expand its specialty products (high-value-added products) and global markets to maximize the performance of existing businesses and enter new businesses. The big direction of the new business is the material used in the health and wellness industry. Samyang Group entered the related market with alternative sweeteners such as allulose and prebiotics in the foodstuffs sector. Personal care materials are being fostered in the chemical business sector as a new growth engine to enter the health and wellness material industry. In addition, new materials such as highly functional compounds and biodegradable plastics are added to the business portfolio centered on polycarbonate and compound (a mixture of two or more materials such as resin, additive, and reinforcement) to maximize performance and specialization. Samyang Group’s growth strategies are also revealed in the 2021 SIRF award-winning projects.   Foodstuffs Research Institute’s (grand prize) rapid commercialization of new growth engines with next-generation allulose sweetener Samyang’s Foodstuffs Research Institute developed an alternative allulose sweetener, and won the grand prize for the first time in history at the SIRF. Until now, the excellence prize has been the highest award rating.   Allulose is a sweet ingredient contained in fruits such as figs and raisins, and is called the best next-generation sweetener because it has a sweet taste similar to sugar yet has zero calories. Allulose is used throughout various foods such as ice cream, fermented oil, syrup, and low-calorie jelly.   Allulose is a rare sugar that exists in minimal amounts in nature, but it can be mass-produced by reacting certain enzymes with fructose. The Foodstuffs Research Institute found enzymes that can produce allulose from microorganisms separated from food and succeeded in mass production in 2016. Since then, the institute has secured both cost and quality competitiveness by establishing its own enzyme technology with excellent allulose production capabilities and production process. The institute established products and production technologies and supported the application of allulose to actual products through joint research with client companies through collaboration with application technology development and marketing teams. Samyang’s allulose is being supplied to various customers, including major domestic beverage industries, low-sugar products of dairy industries, and health functional food companies. It is also actively targeting overseas markets by obtaining overseas sales permits, patent applications, and the United States FDA GRAS (“Generally Recognized As Safe”) registration as well as Kosher and Halal certification. The institute is also conducting joint research with global food companies to apply allulose to sauces, juice and beverages.   Samyang Corporation’s sales of allulose are expected to increase nearly ten times this year compared to 2018. Demand for allulose continues to increase thanks to interest in health and low-sugar trends. Samyang Corporation estimates that the global market size of Allulose was about KRW 20 billion last year and expects growth by 20 to 30 times by 2030. In line with this, Samyang Corporation has promoted overseas expansion and currently has sales permits in the United States, Latin America and Asia, and plans to continue to expand to major markets such as Europe. To cope with the growing overseas demand, establishing a local corporation is also being considered from a long-term perspective.   Chemical Research Institute reinforces competitiveness of existing businesses by developing specialty materials for automobiles Samyang’s Chemical Research Institute won the excellence award for improving physical properties so that “metal-textured plastic materials” (product name: Metalinus) can be used for automotive interiors. Automotive interior materials are continuously exposed to chemicals, such as air fresheners and cosmetics on human hands, and direct sunlight, requiring high chemical resistance, heat resistance, and light resistance.   Metalinus is an engineering plastic that can express various colors by inserting aluminum flakes (pieces) into polycarbonate (PC), a type of heat-resistant engineering plastic (EP), and implement a metal texture by applying Samyang’s coloring technology. Existing plastic products require a separate painting process to create a metal-like feeling, but Metalinus does not need an additional painting process because it can express metal texture and various colors only with plastic materials. Therefore, sophisticated components can be molded, and product production costs are reduced by omitting the painting process. In addition, since dyes containing substances harmful to the human body are not used, they are environmentally friendly. There is no color fading or peeling that may occur when the painted product is old. Since its launch in 2019, it has been applied to various premium household appliances such as air conditioners, vacuum cleaners, and washing machines as it can make products with sophisticated designs compared to metals cost-effectively, thus welcomed by client companies such as electronics companies.   Samyang’s Chemical Research Institute developed Metalinus for automotive interiors with improved chemical resistance, moldability, heat resistance, and light resistance by compounding (mixing) polybutylene terephthalate (PBT) on PC instead of acrylonitrile butadiene styrene (ABS) to apply Metalinus to vehicle components. Developed by the Chemical Research Institute, the material is applied to nine models of domestic automakers by replacing existing PC and ABS compound materials on dashboards inside vehicles – which requires to endure heat over 100 degrees Celsius – and consoles, including center fascia, due to its excellent heat resistance and light resistance. Samyang’s Chemical Research Institute continues to conduct joint research with the automotive industry to apply the material to new models and is also preparing for overseas exports.   KCI targets global corporate monopoly markets by developing emulsion-type thickener KCI, a specialty material production company for personal care products, won the excellence award for its high-quality hypoallergenic emulsion-type thickener. As a result, KCI has become the second company in the world to produce emulsion-type thickener. Emulsion-type thickener is a multifunctional composite material with all three functions: a thickener that enhances the viscosity of cosmetics, a softener that makes skin smooth, and an emulsifier that mixes the water layer (water component) and the oil layer (oil component). Emulsion-type thickeners are easy to use and maintain viscosity in a broad acidity (pH) range. In addition, it can be applied to products made at low temperatures due to its excellent solubility, so it is used throughout cosmetics such as skincare, hair care, and personal care products. Thanks to its various advantages, demand from the personal care industry, including cosmetics, is high, but production is complex, so French companies have been exclusively supplying it.   KCI started developing Emulsion-type thickeners in 2015 and developed the first-generation product in a year, but it did not secure much market share due to its low-cost competitiveness and lack of product portfolio. Accordingly, KCI started developing second-generation products in 2017 to secure production stability and improve quality and completed the development of nine second-generation product portfolios last year. Second-generation products are characterized by a variety of differentiated product lineups along with high quality.   KCI’s emulsion-type thickener portfolio consists of products for high viscosity cosmetics such as elastic cream and moisture cream, products for manufacturing nutritional cream and essence, products specializing in sunscreen and mask packs, and products using natural ingredients to target the European market. Products using natural-derived raw materials are considered secret keys to target the European market. KCI’s emulsion-type thickener sales had more than tripled from 19.5 tons in 2017, at its early stages of commercialization, to 110 tons this year. KCI plans to target the Asian market first and secure a global market share of around 10% by 2025 by targeting Europe and the Americas, where competitors dominated.

  • Samyang Group 2021.10.08
    Celebrating its 97th anniversary, Samyang Group makes a leap toward becoming a “global specialty solution company”
    Celebrating its 97th anniversary, Samyang Group makes a leap toward becoming a “global specialty solution company”

    - Posted celebratory message on the intranet in time for the company’s anniversary to replace celebratory event due to the COVID-19 pandemic - Leading the health and wellness, eco-friendly, and advanced materials businesses to achieve advancement based on specialty materials, global market expansion, and digital innovation - To promote shared growth with employees by overcoming difficulties and to promote ESG by succeeding and developing the value of ethical management   ▲ Chairman Kim Yoon of Samyang Holdings   Celebrating its 97th anniversary, Samyang Group (President: Chairman Kim Yoon of Samyang Holdings) is taking a leap toward the future by looking back on its past.   On September 30, a day before its foundation day, Samyang Group announced the posting of a celebratory message on the intranet. Before the outbreak of COVID-19, Samyang Group held a trekking event to celebrate its foundation and to promote communication with employees. Over the last two years, however, the event has been replaced with the posting of celebratory messages.   For this year's celebratory message, Chairman Kim Yoon urged employees to “advance into a global (high-value) specialty solution company that leads the health and wellness, eco-friendly, and advanced materials businesses in order to respond to the rapidly changing times.” Chairman Kim also proposed “specialty materials, global market expansion, and digital innovation” as the foundation for the company’s advancement.   Recently, Samyang Group has been strengthening the health and wellness-related businesses by securing leadership in the specialty food materials field, such as for allulose, a sugar substitute, and prebiotics, fostering the personal care materials business. The group is also accelerating the development of eco-friendly materials including highly functional compounds and biodegradable plastics.   “For isosorbide, a bioplastic, we are preparing for commercial production as well as market entry through the development of various eco-friendly materials using isosorbide. As for SENS, an independently developed bio drug delivery system, we are promoting an open innovation in Korea and abroad,” said Chairman Kim, emphasizing Samyang Group’s global management performances—including the development of specialty technologies in which the company had invested over a long period with a goal of securing global market leadership.   Lastly, Chairman Kim reiterated that the success of a business depends on people. “We will further strengthen talent development by promoting the digital transformation of human resources and improving the system.” Chairman Kim asked the employees to succeed and develop ethical management that had been continuously implemented since the company’s foundation in order to achieve shared growth between the company and employees and ensure response to the management environment that encourages environmental, social and governance (ESG) based on the employees’ voluntary capacity building. 

  • Samyang Group 2021.08.03
    Samyang Group Holds Digital Meeting and Commits to Vision 2025
    Samyang Group Holds Digital Meeting and Commits to Vision 2025

    - Responding to uncertainty by reorganizing key businesses and improved execution with business directions for the second half - Highlighting the importance of executing Vision 2025 to “emerge as a global specialty solution company” - Calling for “focus on health and wellness, and accelerating eco-friendly efforts”   ▲ Chairman Kim of Samyang Group encouraged employees to overcome the pandemic and achieve Vision 2025 in a video message. "Commitment of all employees as a driving force to achieve goals"     Samyang Group (Chairman: Kim Yoon) has committed to overcoming the pandemic and achieving its Vision 2025 in a digital meeting.   Samyang Group announced on August 2 that it held the 2021 Group Meeting online on the same day. Chairman Kim routinely shares with employees the company’s key performance and business directions through new year’s kick-off and other meetings. Chairman Kim actively communicated with employees online since the advent of COVID-19 and social distancing.   In a video message, Chairman Kim said, “We should reorganize our key businesses and focus on improving execution to respond to the new normal where uncertainty is increasing.” He also presented three business directions to respond to the current pandemic and promote mid- and long-term growth by improving execution for Vision 2025, continuing with digital transformation, and stabilizing a new HR system.   Vision 2025 is the mid- and long-term growth strategy of Samyang Group. Its goals are to focus on promoting the health and wellness business, discovering new opportunities in the eco-friendly and advanced materials businesses, and emerging as a global specialty (highly functional) solution company. It mainly aims for qualitative growth by advancing the company’s business structure, such as operating more than 30% of its assets in the global market and creating more than 60% of its earnings from specialty products by 2025.   Chairman Kim said, “To improve execution for Vision 2025, we should strengthen our specialty business, accelerate our global efforts, utilize open innovation, and discover convergent businesses. To reinforce specialty, we will focus on health and wellness by expanding the business scale of nutrition, medical and personal care, while accelerating our eco-friendly efforts by successfully commercializing the biodegradable plastic material isosorbide and solidifying the recycling business.”   Chairman Kim also called for promoting digital transformation and stabilizing a new HR system. Since last year, Samyang Group pushed for ERP restructuring and robot process automation (RPA) to establish the digital system and change the way employees work. In addition, Samyang Group also overhauled its HR system to build capacity for employees and respond to an extremely elevated external uncertainty. With the introduction of the new HR system, Samyang Group is creating an environment where the company and its members grow together and voluntarily dedicate themselves to delivering outcomes.   Finally, Chairman Kim ended the meeting, saying “Vision 2025 can be achieved only when the company and our employees grow together. Let’s overcome the crisis and build the base for growth based on our consensus about goals.”  

  • Samyang Group 2021.05.11
    Samyang Group Sudang Foundation Held the 30th Sudang Awards
    Samyang Group Sudang Foundation Held the 30th Sudang Awards

    - Professor Emeritus Kim Jang-joo at Seoul National University and Professor Sung Yung-eun at Seoul National University each awarded KRW 200 million and a plaque - Started from 1973 in honor of the founder’s commitment to nurturing future generations, and sponsored continuously by the Samyang Group   ▲  The Sudang Foundation held the 30th Sudang Awards on May 3 in Lotte Hotel, Seoul. From left to right: President Kim Yoon of the Sudang Foundation, Professor Emeritus Kim Jang-joo at Seoul National University Department of Materials Science and Engineering, and his wife, Professor Sung Yung-eun at Seoul National University School of Chemical and Biological Engineering, and his wife, and Chair Jin Jeong-il of the Sudang Awards Steering Committee.     The Samyang Group Sudang Foundation (President: Chairman Kim Yoon of Samyang Holdings) announced on May 4 that it held the 30th Sudang Awards on May 3 in Lotte Hotel in Sogong-dong, Seoul.   This year’s Sudang Awards for Applied Sciences went to Professor Emeritus Kim Jang-joo (66) at Seoul National University Department of Materials Science and Engineering, and Professor Sung Yung-eun (57) at Seoul National University School of Chemical and Biological Engineering. Each received KRW 200 million and a plaque in the ceremony.   Sudang Awards were created to continue the belief of the Samyang Group’s founder Sudang Kim Yeon-su in nurturing talented individuals. Researchers who contributed to academic progress in Korea are selected and awarded every year. The Awards started out as the Sudang Science Awards in 1973 and had been hosted by the Kyungbang HR Fostering Association up to the 14th event. It was discontinued temporarily but continued by the Sudang Foundation in 2006 by renaming it as the Sudang Awards and expanding categories in Natural Sciences and Humanities. From 2008, with the Applied Sciences added, awardees from three categories have been selected and each given KRW 100 million and a plaque. There has been a slight change in the selection process starting this year; recommendation letters were received from three categories and two researchers with great achievements were selected regardless of the category. Furthermore, the award money has been increased from KRW 100 million to KRW 200 million to facilitate and motivate research activities. Since the inception of the Sudang Awards, Samyang Group has sponsored the Awards so far.   The award ceremony started with greetings from President Kim Yoon of the Sudang Foundation. It was followed by a progress report by Chair Jin Jeong-il of the Sudang Awards Steering Committee, an introductory video, award acceptance speeches, and photo opportunities. To prevent the spread of COVID-19, only the minimum number of people attended the ceremony, including winners in award categories.   Based on its corporate philosophy for social contribution ‘Provide an opportunity to make dreams come true,’ Samyang Group is providing scholarship programs and academics support programs in basic sciences and humanities through the Yang Young Foundation and the Sudang Foundation. The two Foundations have funded scholarships and grants for over 20,000 students, 600 professors, and other research groups. In particular, the Yang Young Association, a predecessor to the Yang Young Foundation, is recognized for being Korea’s first corporate social contribution activity.

  • Samyang Packaging 2021.03.31
    Samyang Packaging Hosted the 7th Annual Shareholder Meeting
    Samyang Packaging Hosted the 7th Annual Shareholder Meeting

    - Reported KRW 367.6 billion in revenue and KRW 38.5 billion in profit before tax in 2020… Allocated KRW 1,000 in dividends per common stock - Reinforced aseptic leadership, focusing on improving profitability and competitiveness in container business… Targeting KRW 371.5 billion in revenue for this year   ▲ The 7th annual shareholder meeting of Samyang Packaging was held on Mar. 24 in the auditorium on the first floor of the Samyang Group’s headquarters in Jongno-gu, Seoul.     Samyang Packaging (CEO Jo Dok-hee ), a packaging affiliate in the Samyang Group, announced that the company held the 7th annual shareholder meeting on Mar. 24 in the auditorium on the first floor of the Samyang Group’s headquarters located in Yeonji-dong, Jongno-gu, Seoul. All of the following 5 agenda items were resolved as proposed: approving the 7th financial statement; partially amending articles of incorporation; appointing directors; and approving compensation limits for directors and auditors.   In a sales report for 2020, revenue was reported as KRW 367.6 billion and profit before tax was KRW 38.5 billion. The cash dividend for KRW 1,000 per common stock was resolved as per the approval of the 7th financial statement.   In regards to appointed directors, Vice Chairman Kim Joeng  of Samyang Packaging was re-appointed as an inside director while Inside Director Yoon Seok-hwan  of Samyang Packaging was newly appointed as a non-executive director.   CEO Jo Dok-hee said, “We are targeting KRW 371.5 billion in revenue and KRW 52.5 billion in profit before tax for this year. By establishing the 5th aseptic production facility, we will strengthen our aseptic market dominance, enter new markets, expand major customers, and improve profitability in container business.”  

  • Samyang Group 2021.03.03
    Samyang Group’s Yangyoung Foundation and Sudang Foundation Provide Scholarships for 2021
    Samyang Group’s Yangyoung Foundation and Sudang Foundation Provide Scholarships for 2021

    - Provided a total of KRW 833 million to 88 undergraduate and graduate students recommended by universities - Continued financial assistance and research grants to 23,000 students and 760 professors since 1939 ▲  The Yangyoung Foundation and Sudang Foundation in the Samyang Group provided KRW 833 million to 88 undergraduate and graduate students on Feb. 19.   Samyang Group’s Yangyoung Foundation and Sudang Foundation announced on Feb. 22 that they provided scholarships to 88 undergraduate and graduate students for 2021 on February 19.   This year, the Yangyoung Foundation provided scholarships to 77 undergraduate and graduate students and the Sudang Foundation to 11 undergraduate students. KRW 833 million was provided to 88 students in total. The students who received scholarships were recommended by their universities they showed great academic achievements and set an example for others despite their difficult situations. Due to COVID-19, Yangyoung and Sundang Foundation did not hold a scholarship ceremony at the headquarters of Samyang Group like they did in the past.   Undergraduate and graduate students can receive scholarships up to 4 semesters and starting this year, learning support grants are additionally provided on top of tuition fees to help students solely focus on their studies.    Based on its philosophy of corporate social responsibility “provide an opportunity to make a dream come true”, the Samyang Group is providing scholarship and support programs in basic sciences and humanities through the Yangyoung Foundation and the Sudang Foundation. The two Foundations have funded scholarships and grants for 23,000 students, 760 professors, and other research groups. In particular, the Yangyoung Association, a predecessor to the Yangyoung Foundation is recognized for Korea’s first corporate social responsibility activities.   The Samyang Group’s Yangyoung Foundation, the origin of a private scholarship foundation, was established in 1939 by the late Chairman Sudang Kim Yeon-su, the founder of the Samyang Corporation. The Sudang Foundation was established in 1968 by Chairman Kim and his children to expand scholarship programs, and it provides the Sudang Awards, which consists of KRW 200 million and a plaque to 2 selected professors in the areas of basic science, applied science, and humanities.

  • Samyang Group 2021.01.13
    Samyang Group Made New Year’s Resolution in Digital Kick-off Ceremony
    Samyang Group Made New Year’s Resolution in Digital Kick-off Ceremony

    - Need to improve fundamentals in the first year where a new mid- and long-term strategy for 2025 begins - Present ‘Implement of Vision 2025, accelerate digital transformation, and stabilize the new HR system’ as a business guide for this year - “This year’s activities are the beginning of the next 100 years, and it is important to take on challenges by finding wisdom in our 97-year history to overcome a crisis”   ▲  An employee in the Samyang Group is watching a digital kick-off ceremony.   The Samyang Group (Chairman Kim Yoon of Samyang Holdings) reaffirmed its commitment to overcoming the crisis and moving toward new 100 years in a digital kick-off ceremony for the new year.   The Samyang Group announced on January 5 that it had Samyang Group Kick-off Ceremony on January 4. While the Samyang Group has had an offline kick-off ceremony until the last year, it had a digital one this year, where videos including new year’s messages were shared, to prevent the spread of COVID-19 and promote digital transformation.   In a video message, Chairman Kim Yoon said, “This year marks the first year where a new mid- and long-term strategy for 2025 begins.” He presented ‘implement Vision 2025, accelerate digital transformation, and stabilize the new HR system’ as a business guide for this year to enhance business portfolio, enhance competencies, and improve fundamentals.   To begin with, Chairman Kim put forward a direction towards the mid- and long-term strategy, “The fundamental solution to overcome declining profitability in the existing business areas is to target the global market with specialty (highly functional) products. There is also a need to move our key business areas into health & wellness, digital, and eco-friendly areas.”   Chairman Kim emphasized the importance of digital transformation, “The paradigm has already shifted to digital and online, and digital transformation is a task directly related to the survival of a company. We need to successfully proceed with the ERP project, which we began last year, and introduce digital technology across the way we conduct business to accelerate digital transformation.”   In regards to the new HR system, he asked the employees to produce outcomes voluntarily and build their competencies through this system. “Employees must have a high level of competencies and expertise to detect and respond to any change on the frontline of business. We will introduce a new HR system to connect individuals’ growth with the company’s and change the way we work,” he said.   Finally, Chairman Kim wrapped up his message, “This year’s activities are the beginning of the next 100 years, and I hope all employees take on challenges by finding wisdom in our 97-year history to overcome a crisis.”

  • Samyang Group 2020.11.13
    Samyang Group Hosted Samyang Innovation R&D Fair 2020
    Samyang Group Hosted Samyang Innovation R&D Fair 2020

    - Event sharing R&D outcomes… held every year to motivate R&D and share knowledge in the group - Simplified the event due to COVID-19… selected outperforming projects, had presentations, and awarded three projects like previous years - “COVID-19 presents two challenges: overcoming crisis and achieving future growth… we need to overcome them with R&D”     The Samyang Group (Chairman Kim Yoon) is finding a key to overcome crisis and achieve future growth from “specialty” technology. Specialty technology can produce higher value products with better functionality than ordinary products.   The Samyang Group announced on November 11 that the company hosted the Samyang Innovation R&D Fair (SIRF) 2020 on the same day at Samyang Discovery Center, Pangyo.   SIRF is an event that displays and shares R&D outcomes which researchers in the Samyang Group have archived in the year. Samyang Group has hosted this annual event since 2012 to motivate R&D and share knowledge.   This year’s SIRF was simplified as it minimized the number of attendees to comply with COVID-19 guidelines, and only 12 major and strategic projects from each research center were displayed. Researchers participated in the event online, communicating and sharing knowledge through comments.   While the event was simplified, selecting outperforming projects and giving presentations proceeded like previous years. At SIRF 2020, the Samyang Group awarded 3 best R&D projects and shared their research outcomes. The Top Excellence Award went to the Smartphone Material Development Project by Chemical Research Center, while the Excellence Awards went to the More Flavorful Butter Processed Fat Development Project by Food Bioresearch Center and the Mid- and Large Touch Panel Overcoat Development Project by Convergent Material Research Center.   Chairman Kim Yoon said in the intra-net, “COVID-19 is deepening uncertainty, accelerating changes, and presenting two challenges: overcoming crisis and achieving future growth.” He asked researchers to do three things: advancing specialty technology, expanding open innovation and convergence, and seeking R&D digital transformation.   Meanwhile, specialty technology that has added differentiated competitiveness to existing businesses won awards at this year’s SIRF. Based on the specialty technology, the Samyang Group is maximizing performance in its existing businesses while, at the same time, entering new businesses.

  • Samyang Group 2020.10.15
    Samyang Group Held a Memorial Ceremony Marking the 10th Anniversary of the Passing of the Late Honorary Chairman Namryeong Kim Sang-hong
    Samyang Group Held a Memorial Ceremony Marking the 10th Anniversary of the Passing of the Late Honorary Chairman Namryeong Kim Sang-hong

    - Held with family members on October 8 at his tomb, Yeoju which was pushed back from May due to COVID-19 - The late Honorary Chairman entered the company in 1947 and expanded business with sugar and chemical fiber into industrials, food, and chemicals - Advanced into biopharmaceuticals, and prepared the future growth of the Samyang Group by establishing Samyang Central Research Center  ▲ Kim Yoon, Chairman of Samyang Group is addressing about his father at the 10th Anniversary of the Passing of the Late Honorary Chairman Namryeong Kim Sang-hong   Samyang Group (Chairman Kim Yoon) held a memorial ceremony marking the 10th anniversary of the passing of the late Honorary Chairman Kim Sang-hong at his tomb, Yeoju, on October 8. His passing was in May, but the ceremony was pushed back due to the increased spread of COVID-19. The ceremony was held without crowds but mainly with family members in compliance with social distancing level 2.   The memorial ceremony started with a moment of silence, followed by his summarized life, a commemorative video, commemorative remarks, flower laying and incense lighting by participants, and final comments from family members.    In addition to the memorial ceremony, Samyang Group is holding a commemorative photography exhibition under the theme of Namryeong, Tree With Deep Roots until October 14 at the Headquarters in Jongno and Samyang Discovery Center located in Pangyo, Seongnam. The exhibition will move on to Samyang Central Research Center located in Daejeon from October 15 and then Ulsan Plant 1 of Samyang Corporation until October 23.   Samyang Group Chairman Kim Yoon said, “Marking the 10th anniversary of his passing, I look back on my father’s life and feel pride and responsibility. A true way of honoring him is to continue to pass down his will.”   The late Honorary Chairman Kim Sang-hong was the third son of the Samyang Group’s founder Sudang Kim Yeon-sul. He entered the company in 1947 and led the company until May 2010 when he passed away at the age of 87. Honorary Chairman Kim was respected by the business community and society as he followed the previous generation’s teachings of moderation, stayed away from greed and extremes, and always kept his character and attitude humble and straight.   Honorary Chairman Kim contributed to solving hunger problems and economic development in the 1950s and 1960s by doing business in sugar and polyester fiber. He expanded his business into food and chemical materials including starch sugar, chemical fiber material TPA, and engineering plastic polycarbonate, and made Samyang what it is today. During his chairmanship, he advanced into the biopharmaceutical business and expanded the previous Samyang Comprehensive Research Center in a 19,000-pyeong area (about 62,820 m2) as wide as 9 soccer fields and established Samyang Central Research Center to prepare the future growth engine.   Honorary Chairman Kim also contributed to the business community by serving the chairman of the Korea Sugar Association, the vice chairman of the Korea Enterprises Federation, and the vice chairman of the Federation of Korean Industries. After he stepped down, he served as the chairman of the Yangyoung Foundation, Sudang Foundation, and Haseo Academic Foundation and committed to nurturing talented people and advancing academic achievements. The Korean government and society honored his contributions with the Gold Tower Order of Industrial Service Merit, the Korean CEO Award, and the New Ilhan Award.   Honorary Chairman Kim was survived by 2 sons and 2 daughters including the first son Chairman Kim Yoon at the Samyang Group and the second son Vice Chairman Kim Ryang at Samyang Corporation. The Samyang Group, which celebrated its 96th anniversary on October 1, is preparing a new 100 years by continuing the previous management’s business philosophy, setting the vision ‘Ingredients that add value to life,’ and focusing on food and chemical specialty materials, packaging, and biopharmaceuticals.  

  • Samyang Group 2020.09.18
    Samyang Group Sudang Foundation Held the 29th Sudang Awards
    Samyang Group Sudang Foundation Held the 29th Sudang Awards

    - △ Professor Kim Dong-ho at Yonsei University for Basic Sciences, △ Professor Choi Hae-cheon at Seoul National University for Applied Sciences, and △ Endowed Chair Professor Lee Han-goo at Kyung Hee University for Humanities… Each awarded KRW 100 million and a plaque - Started out as the Sudang Science Awards in 1973 and continued the founder’s belief in nurturing talented individuals… Expanded into three categories since 2008 - 2 winners each in 3 categories to be selected for KRW 200 million in prize money and a plaque starting next year   ▲ The Sudang Foundation held the 29th Sudang Awards on September 9 in The Westin Chosun Seoul. From left to right: Chairman Kim Yoon at Samyang Holdings, Professor Kim Dong-ho at Yonsei University Department of Chemical and Biomolecular Engineering, Professor Choi Hae-cheon at Seoul National University Department of Mechanical Engineering, and Endowed Chair Professor Lee Han-goo at Kyung Hee University Global Academy for Future Civilizations, and Chair Jin Jeong-il of the Sudang Awards Steering Committees   Sudang Foundation (Chairman: Kim Sang-ha of Samyang Group) held the 29th Sudang Awards on September 9 in The Westin Chosun Seoul.   This year’s Sudang Awards went to Professor Kim Dong-ho (63)—at Yonsei University Chemical and Biomolecular Engineering—for Basic Sciences, Professor Choi Hae-cheon (58)—at Seoul National University Mechanical Engineering—for Applied Sciences, and Endowed Chair Professor Lee Han-goo (75)—at Kyung Hee University Global Academy for Future Civilizations—for Humanities. Each received KRW 100 million and a plaque in the ceremony.   Sudang Awards were created to continue the belief of the Samyang Group’s founder Sudang Kim Yeon-su in nurturing talented individuals. The Awards started out as the Sudang Science Awards in 1973 and had been hosted by the Kyungbang HR Fostering Association up to the 14th event. Since then, Sudang Foundation expanded the Awards into natural sciences and humanities in 2006 and held the renamed 15th Sudang Awards. From 2008, they have expanded into three categories: Basic Sciences, Applied Sciences, and Humanities. Samyang Group has been sponsoring the Sudang Awards since its establishment.   The awarding ceremony started with Samyang Holdings Chairman Kim Yoon reading greetings on behalf of Sudang Foundation Chairman Kim Sang-ha. It was followed by a progress report by Director Jin Jeong-il of the Sudang Awards Steering Committee, an introductory video, award acceptance speeches, and photo opportunities. To prevent the spread of COVID-19, only the minimum number of people attended the ceremony, including the winners in award categories.   Meanwhile, the way in which the Sudang Awards are awarded will change starting from next year. Up until now, 1 winner each has been selected and received KRW 100 million and a plaque in the three categories espectively: Basic Sciences, Applied Sciences, and Humanities. However, starting from next year, 2 winners will be selected from the 3 categories and will receive KRW 200 million and a plaque. Koreans who has achieved great research outcomes are eligible for the Sudang Awards. More information about candidate recommendations can be found in the Sudang Foundation’s website.   Based on its corporate philosophy for social responsibility ‘Provide an opportunity to make dreams come true,’ Samyang Group is providing scholarship programs and support academics in basic sciences and humanities through the Yang Young Foundation and the Sudang Foundation. The two Foundations have funded scholarships and grants for over 23,000 students, 760 professors, and other research groups. In particular, the Yang Young Association, a predecessor to the Yang Young Foundation is recognized for being Korea’s first corporate social responsibility activity.  

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