Samyang Completes Hungary Suture Factory Construction... Aiming for Annual Production of 100,000 km

Samyang Holdings, which boasts the global market share No.1 in the field of 'biodegradable suture yarn' known as surgical absorbable thread, has completed a production plant in Hungary, Eastern Europe, and is set to expand its market share in Europe. Samyang Holdings is the first domestic pharmaceutical and bio company to establish a medical device manufacturing plant in Hungary.

Eom Tae-woong, CEO of Samyang Holdings; Kim Ryang, Vice Chairman of Samyang Corporation; Peter Starloy, Deputy Minister of Foreign Affairs and Trade of Hungary; Gergely Kerbuczki, Deputy Director of the Hungarian Investment Agency; Kim Yoon, Chairman of Samyang Group; Hong Kyu-deok, Ambassador to Hungary; Kim Jung, Vice Chairman of Samyang Packaging; Gyorgy G?m?ri, Mayor of Gy?ngy?s; Lee Young-jun, CEO of Samyang Holdings BioPharm Group; and Kim Sun-woo, Head of Samyang BioPharm Hungary (from the third person on the left) are participating in the ribbon-cutting ceremony at the inauguration of the Samyang BioPharm Hungary factory.
[Photo by Samyang BioPharm]

On the 13th (local time), Samyang Holdings' Biopharm Group held a completion ceremony for the biodegradable suture yarn factory in G?d?ll?, Hungary. Attending from Hungary were Peter Staroi, Deputy Minister of Foreign Affairs and Trade; Gergely Kervutzki, Deputy Director of the Investment Agency; and Gy?rgy G?mes, Mayor of G?d?ll?. From Korea, attendees included Kyu-duk Hong, Ambassador to Hungary; Yong-duk Kim, Head of the Budapest Trade Office of the Korea Trade-Investment Promotion Agency (KOTRA); Yoon Kim, Chairman of Samyang Holdings; and Young-jun Lee, CEO of Samyang Holdings. The ceremony proceeded with an opening declaration, progress report, congratulatory speeches, ribbon-cutting, and a site tour.

The newly completed suture yarn factory was built on a 36,000㎡ site within the G?d?ll? industrial complex, located 30 km east of Budapest, Hungary’s capital. With an investment of approximately 28 billion KRW, the factory has a total floor area of 6,700㎡. By 2025, when all equipment is installed, it is expected to produce up to 100,000 km of suture yarn annually. Samyang Holdings plans to increase investment according to market conditions to expand production capacity to 200,000 km per year.

More than 90% of Samyang Holdings’ total suture yarn sales come from exports, with Europe accounting for about 30% of export volume, making it a key market. To aggressively target the European market, Samyang Holdings established Samyang Biopharm Hungary in 2019 and now plans to use the newly completed production plant as a forward base to expand its market share in Europe.

The reason for choosing Hungary is that it is seen as an emerging production hub and logistics center for the European market. Geographically, Hungary shares borders with seven European countries and is adjacent to major export destinations for Samyang Holdings’ suture yarn, including Spain, Italy, Germany, France, and T?rkiye (Turkey), enabling supply stability and logistics cost reduction. Additionally, as a member of the European Union (EU) with a customs union agreement, products manufactured in Hungary can be sold tariff-free throughout Europe, which is another advantage.

Exterior view of Samyang Biopharm's suture production plant in Hungary
[Photo by Samyang Biopharm]

Yoon Kim, Chairman of Samyang Holdings, said, "Based on the production technology and quality systems accumulated by the Samyang Group, we have completed a suture yarn production plant with an annual capacity of 100,000 km, demonstrating the best technology and expertise. Using the Hungary plant as a foothold, we will strengthen our position in the European market and expand our business scope to various products such as bio-surgery (surgical biomaterials) and cosmetic surgery in the future."

Peter Staroi, Deputy Minister of Foreign Affairs and Trade of Hungary, also said in his congratulatory speech, "Congratulations on the completion of the Samyang Biopharm Hungary plant. We thank the Samyang Group for their continued investment despite the difficult economic environment. The Hungarian government will implement various support activities and cooperation policies to ensure active investment by foreign companies, including the Samyang Group."

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