Samyang Group Holds 'Samyang Innovation R&D Fair'

Research Achievement Exhibition and Presentation Event
Held Annually to Inspire R&D Enthusiasm and Share Knowledge

Kim Yoon, Chairman of Samyang Holdings, is reviewing the R&D strategic project exhibition at the 'Samyang Innovation R&D Fair.' Photo by Samyang Group

[Asia Economy Reporter Donghoon Jeong] Samyang Group announced on the 5th that it held the 'Samyang Innovation R&D Fair (hereinafter SIRF) 2022' at the Samyang Discovery Center in Pangyo, Seongnam-si, Gyeonggi-do.

SIRF is an event that exhibits and presents the R&D achievements cultivated by Samyang Group researchers over the year. It started in 2012 to boost research and development motivation and serve as a platform for knowledge sharing. Due to COVID-19, offline events have been minimized since 2020, and the event has been held in a hybrid format with online broadcasting. Offline presentations focus on excellent achievements and strategic tasks by each research institute, while researchers watch the online broadcast and communicate and share knowledge through comments.

At this year's SIRF 2022, Samyang Group exhibited 18 major projects and awarded two outstanding R&D cases. The grand prize was awarded to the Chemical Research Institute’s project ‘Development and Commercialization of Isosorbide Process,’ and the excellence award went to the Pharmaceutical Bio Research Institute’s ‘Development of Oral Anticancer Drug Renalid Tablet.’ The SIRF awards are selected comprehensively considering economic outcomes such as profits, contribution to company competitiveness, innovation, and creativity.

The grand prize-winning project ‘Development and Commercialization of Isosorbide Process’ by the Chemical Research Institute was recognized for securing new technology throughout the entire process from development to mass production of ‘Isosorbide,’ a bio-based chemical material that is the second in the world and the first in Korea to be commercialized. This project, conducted as the first R&D convergence research between the Food Bio Research Institute and the Chemical Research Institute at Samyang Group, enabled the group to secure base materials necessary for discovering new growth engines as well as specialty material development and mass production technology in the eco-friendly field.

Ryu Hoon, Head of Samyang InnoChem, who led the research project, said, "I am delighted to have achieved the fruits of a long-term research project and honored to receive such a great award." He added, "We have secured patents for the core production process of Isosorbide to raise technological barriers and will continue to expand the application range of the material to lead the white bio market."

The excellence award-winning project ‘Development of Oral Anticancer Drug Renalid Tablet’ is significant for expanding the anticancer drug portfolio to the oral blood cancer market through differentiated first generic drug development and securing technological know-how to change the formulation from capsule to tablet.

On the day, Chairman Kim Yoon said through the company intranet, "In the face of increasing external uncertainties, R&D advancement is essential to achieve the two tasks of ‘overcoming crisis’ and ‘future growth.’" He emphasized ▲discovering future growth engines ▲improving R&D efficiency through digital transformation ▲open innovation and convergence technology discovery, urging enhanced execution capabilities for early commercialization of new technologies.

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