Kim Yoon, Chairman of Samyang Group, "Actively Seek Opportunities Amid Crisis... Strengthen New Business Through M&A"

Kim Yoon, Chairman of Samyang Group, is holding a meeting on the 11th at the Samyang Discovery Center in Pangyo, explaining the first half performance and the management direction for the second half to the employees.

[Asia Economy Reporter Eunmo Koo] Kim Yoon, Chairman of Samyang Group, urged employees to actively seek opportunities even amid crises.

Samyang Group announced on the 12th that it held the '2022 Samyang Group Assembly' at the Samyang Discovery Center in Pangyo, Seongnam, on the previous day (11th). The Samyang Group Assembly is an event held annually around July where Chairman Kim Yoon directly shares the first half performance and second half strategies with employees.

On this day, Chairman Kim stated, "External environmental deteriorations such as the global economic recession and inflation are expected to continue," urging a focus on improving profitability. He added, "We have repeatedly confirmed that existing strategies such as expanding specialty products, establishing overseas bases, and digital transformation remain valid despite the worsening business environment," emphasizing the necessity to achieve the mid-to-long-term goal of 'Vision 2025.' Vision 2025, set last year, aims for global expansion centered on specialty (high-functionality) materials used in health, eco-friendly, and advanced industries.

According to Vision 2025, the food business is focusing on sugar reduction materials led by the alternative sweetener allulose, while the chemical and packaging businesses are strengthening bio-plastic raw materials, biodegradable plastics, and PET recycling businesses. The pharmaceutical bio business is challenging the development of biopharmaceuticals utilizing its self-developed drug delivery technology.

Chairman Kim stated that Samyang Group has secured financial strength and ordered that new businesses should accelerate commercialization through mergers and acquisitions (M&A). Samyang Group has actively utilized M&A to enter new businesses. Last year, it acquired NC Chem, a semiconductor material specialist company, to expand its electric and electronic materials portfolio, and in 2017, it acquired KCI to enter the personal care materials market.

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