Samyang Foods' Third-Generation Owner Bets on Wellness, Accelerates Search for Next Buldak

Kim Jeongsu Promoted to Chairman of Samyang Foods

Eldest Son and Third-Generation Heir Jeon Byungwoo Leads the Way

R&D Spending Surpasses 5.5 Billion Won in Q1

Strengthening the 'Mitomics Research Institute'

Samyang Foods, which is leading the global K-ramen craze with its signature 'Buldak Bokkeum Myeon', is rapidly strengthening its healthcare division as its next growth engine. Under the leadership of Chief Operating Officer (COO) Jeon Byungwoo, the eldest son of Vice Chairman Kim Jeongsu—who will be promoted to chairman next month—the company is accelerating research and development (R&D) efforts.

According to the food industry on May 19, Samyang Foods' R&D spending for the first quarter of this year amounted to 5.543 billion won, representing a 394% increase compared to the same period last year. Given that the company spent 12.76 billion won on R&D for the entire previous year, it used over 40% of last year’s annual R&D budget in just the first quarter of this year. The R&D-to-sales ratio also increased from 0.54% last year to 0.78% in the first quarter of this year.

Byeongwoo Jeon Samyang Foods

This sharp increase in Samyang Foods’ R&D expenditures appears to be linked to the launch of the 'Mitomics Research Institute'. The Mitomics Research Institute focuses on anti-aging and metabolic health, as well as mitochondrial and multi-omics (biological data analysis)-based solutions. Last year, Samyang Foods began diversifying its business structure by expanding its healthcare-related workforce for new business initiatives. COO Jeon has led next-generation product development while serving both as the head of the healthcare business unit (BU) and the director of the Mitomics Research Institute under the holding company, Samyang Round Square.

For the first time in its first-quarter report this year, Samyang Foods listed its R&D organizations as both the Food Research Institute and the Mitomics Research Institute, instead of just the Food Research Institute. The Mitomics Research Institute is comprised of four divisions: Research Strategy, Research, Development, and the OMICS Team. Based on its research planning, the institute is focusing on developing materials and products for health functional foods.

A representative from Samyang Foods explained, "We have been operating separate research organizations for food and healthcare," adding, "At the end of last year, we renamed the healthcare business division as the 'SPINDLE' headquarters, and to clarify its role, we started designating it separately as the 'Mitomics Research Institute.'"

Regarding the Mitomics Research Institute, Samyang Foods stated, "In line with wellness trends, we are discovering useful materials that can contribute to health and researching ways to utilize them," adding, "Through systematic research and review processes, we are confirming the positive value of these materials." The company further added, "From a long-term perspective, we are accumulating research data that can enhance the competitiveness of our product lineup. Through this, we aim to create synergies with our existing food business and provide consumers with healthy and trustworthy value."

From last year to the present, Samyang Foods has been hiring personnel for healthcare research planning and related positions. The Mitomics Research Institute alone hired about 30 researchers last year to conduct related research. Although separate records for the R&D achievements of the Mitomics Research Institute have not been disclosed, it appears that active research is underway.

In its current recruitment postings, Samyang Foods stated, "Targeting anti-aging and metabolic health, we seek to develop innovative personalized solutions through mitochondrial research and multi-omics-based integrated research." In particular, the company is seeking talent with experience in research and development planning or commercialization in fields such as obesity, diabetes, aging (metabolic health), mitochondrial function, personalized nutrition, and the food, bio, pharmaceutical, and health functional food industries. Based on these efforts, Samyang Foods is considering launching a new health functional food brand.

A representative from Samyang Foods commented, "We are discovering a variety of materials in line with wellness trends and conducting R&D that can create synergies with our existing food business by accumulating diverse research data."

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