Samyangsa Targets 1.6656 Trillion KRW in Sales and 82.6 Billion KRW in Pre-Tax Profit This Year

Samyangsa Holds 10th Annual General Meeting of Shareholders

Song Jaryang, CEO of Samyang Corporation, is conducting the 10th regular shareholders' meeting of Samyang Corporation held on the 25th at the auditorium on the 1st floor of the Samyang Group headquarters in Jongno-gu.

[Asia Economy Reporter Lim Hye-sun] Samyang Corporation, a chemical and food affiliate of Samyang Group, held its 10th regular general meeting of shareholders on the 25th at the auditorium on the first floor of its Seoul headquarters, and announced that all four agenda items?approval of the 10th financial statements, amendment of the articles of incorporation, appointment of directors, and approval of director remuneration limits?were passed as originally proposed.

In the business report, sales of KRW 1,524.8 billion and pre-tax profit of KRW 50.2 billion for 2020 were reported. Following the approval of the 10th financial statements and consolidated financial statements, a cash dividend of KRW 1,250 per common share and KRW 1,300 per preferred share was approved.

Regarding the appointment of directors, Kim Won and Kim Ryang, vice chairmen of Samyang Corporation, were reappointed as inside directors, and Kang Ho-seong, head of the Samyang Corporation Chemical Group, was newly appointed.

CEO Song Ja-ryang stated, "This year, Samyang Corporation aims for sales of KRW 1,665.6 billion and pre-tax profit of KRW 82.6 billion. To execute 'Vision 2025,' we will focus our capabilities on developing specialty materials and solutions," adding, "We will secure profitability through continuous cost reduction and portfolio restructuring centered on high-margin products, and strengthen digital innovation capabilities to improve work efficiency and lay the foundation for mid- to long-term growth."

Meanwhile, at the board meeting held after the general meeting, Kang Ho-seong, head of the Samyang Corporation Chemical Group, was newly appointed as a representative director of Samyang Corporation. Accordingly, Samyang Corporation will operate under a dual CEO system with Song Ja-ryang and Kang Ho-seong serving as co-CEOs.

This content was produced with the assistance of AI translation services.