Samyang Foods Implements Integrated Organizational Restructuring to Strengthen Overseas Business

[Asia Economy Reporter Song Seung-yoon] Samyang Foods announced on the 29th that it will reorganize its structure to focus its capabilities on the overseas business division and expand its global growth.

On the previous day, Samyang Foods held the "Samyang Foods Group Management Conference" at its headquarters in Hawolgok-dong, Seongbuk-gu, chaired by Vice Chairman Kim Jeong-su. The Samyang Foods Group Management Conference is a meeting to share the mid- to long-term vision and goals as well as the 2023 business plan, attended by Samyang Foods executives and team leaders, CEOs of each affiliate, and heads of overseas subsidiaries.

In his opening remarks, Vice Chairman Kim Jeong-su emphasized, "To enter the 'Global TOP 100 companies in the staple food sector,' which is set as the mid-term strategic goal, we have established core mid-term strategies. Based on this, we must set execution goals that penetrate the essence and continuously implement goal management by each organization."

Vice Chairman Kim presented seven core mid-term strategies: ▲ Strengthening core businesses ▲ Optimizing the global supply chain ▲ Enhancing brand value ▲ Vertical and horizontal expansion of business ▲ Entering future food businesses ▲ Sustainable growth ▲ Innovation of the operating system.

Accordingly, Samyang Foods plans to strengthen its core business by expanding the noodle business area with products such as dried noodles and expanding the sauce and frozen food sectors. It will also optimize the global supply chain through efficient logistics network construction and direct overseas expansion strategies, securing new growth engines by developing materials such as plant protein and microbiomes and strengthening quality R&D. Furthermore, the company plans to maximize synergy among affiliates by promoting the strengthening of capabilities and external growth of affiliates such as Samyang Prowell, Samyang Logistics, and Samyang Flour Milling.

With this reorganization, the existing 6 headquarters and 85 teams will be expanded to 8 headquarters and 86 teams. Sales and marketing headquarters by overseas region and a dedicated overseas logistics organization will be newly established, and support organizations for the overseas business division will also be reorganized and strengthened.

Vice Chairman Kim stated, "We are already fulfilling environmental and social responsibilities and moving toward a sustainable company through the establishment of fair governance, but we must remember our responsibilities with humility as our status rises." He urged, "Please familiarize yourselves with ESG strategic tasks such as securing a sustainable supply chain, responding to global regulations, adapting to changes in labor environments, and low-carbon eco-friendly management, and fulfill your respective duties."

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