100 Years Since Founding... Samyang Group Chairman Kim Yoon: "New 100 Years of Growth Through Innovation"

Emphasis on Change at 2024 Samyang Group General Meeting
New Vision Unveiled at October Centennial Ceremony

Kim Yoon, Chairman of Samyang Group, emphasized change and innovation on the occasion of the group's 100th anniversary this year.

Kim Yoon, Chairman of Samyang Group, is giving a speech at the 2024 group assembly.

On the 19th, Chairman Kim held the ‘2024 Samyang Group General Meeting’ at the Samyang Discovery Center in Pangyo, Seongnam-si, Gyeonggi Province, and said, “As we approach a new 100 years, I ask all employees to strive for the growth of Samyang Group through change and innovation.”

The Samyang Group General Meeting is an event where Chairman Kim directly shares the first half performance and second half strategies with employees, held annually in the third quarter.

Chairman Kim evaluated, “Despite the challenging business environment in the first half of this year, we expanded sales centered on specialty (high value-added) products in the food, chemical, and pharmaceutical bio divisions. The new allulose plant began commercial production, and the surgical suture plant in Hungary, completed last year, has entered a stabilization phase, creating meaningful achievements for expanding global and specialty businesses.”

He continued, “Although uncertainties in the global economy have increased further in the second half, I ask everyone to do their best in their respective positions to achieve this year’s goals.”

On this day, Chairman Kim presented the goal of ‘growth through change and innovation’ and emphasized the three major management policies: ‘advancement of a specialty and global-centered business portfolio,’ ‘cash flow-centered management,’ and ‘acceleration of digital transformation.’

He said, “To continuously grow in a rapidly changing business environment, we must reorganize our business portfolio to focus on global and specialty sectors. I urge all Samyang Group employees to intensely contemplate and communicate closely toward the same goal to enhance execution capabilities for advancing the specialty business portfolio.”

Chairman Kim also stated, “As seen in recent domestic and international cases, securing cash liquidity is a very important aspect related to corporate survival. We must secure cash liquidity through maximizing profits, optimizing working capital, and managing investments efficiently.”

He added, “The purpose of digital transformation is to change the way we work and improve productivity through it. I ask for your interest and participation so that the newly promoted digital infrastructure in the group, including digital systems, artificial intelligence, and big data, can lead to changes in work methods and further to productivity improvement.”

Samyang Group plans to hold a 100th anniversary ceremony in October and introduce a new goal system that reflects the group’s vision and direction.

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