Samyang Corpotation

Samyang Corp. News

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  Samyang Group Holds Digital Meeting and Commits to Vision 2025 - Responding to uncertainty by reorganizing key businesses and improved execution with business directions for the second half - Highlighting the importance of executing Vision 2025 to “emerge as a global specialty solution company” - Calling for “focus on health and wellness, and accelerating eco-friendly efforts”   ▲ Chairman Kim of Samyang Group encouraged employees to overcome the pandemic and achieve Vision 2025 in a video message. "Commitment of all employees as a driving force to achieve goals"     Samyang Group (Chairman: Kim Yoon) has committed to overcoming the pandemic and achieving its Vision 2025 in a digital meeting.   Samyang Group announced on August 2 that it held the 2021 Group Meeting online on the same day. Chairman Kim routinely shares with employees the company’s key performance and business directions through new year’s kick-off and other meetings. Chairman Kim actively communicated with employees online since the advent of COVID-19 and social distancing.   In a video message, Chairman Kim said, “We should reorganize our key businesses and focus on improving execution to respond to the new normal where uncertainty is increasing.” He also presented three business directions to respond to the current pandemic and promote mid- and long-term growth by improving execution for Vision 2025, continuing with digital transformation, and stabilizing a new HR system.   Vision 2025 is the mid- and long-term growth strategy of Samyang Group. Its goals are to focus on promoting the health and wellness business, discovering new opportunities in the eco-friendly and advanced materials businesses, and emerging as a global specialty (highly functional) solution company. It mainly aims for qualitative growth by advancing the company’s business structure, such as operating more than 30% of its assets in the global market and creating more than 60% of its earnings from specialty products by 2025.   Chairman Kim said, “To improve execution for Vision 2025, we should strengthen our specialty business, accelerate our global efforts, utilize open innovation, and discover convergent businesses. To reinforce specialty, we will focus on health and wellness by expanding the business scale of nutrition, medical and personal care, while accelerating our eco-friendly efforts by successfully commercializing the biodegradable plastic material isosorbide and solidifying the recycling business.”   Chairman Kim also called for promoting digital transformation and stabilizing a new HR system. Since last year, Samyang Group pushed for ERP restructuring and robot process automation (RPA) to establish the digital system and change the way employees work. In addition, Samyang Group also overhauled its HR system to build capacity for employees and respond to an extremely elevated external uncertainty. With the introduction of the new HR system, Samyang Group is creating an environment where the company and its members grow together and voluntarily dedicate themselves to delivering outcomes.   Finally, Chairman Kim ended the meeting, saying “Vision 2025 can be achieved only when the company and our employees grow together. Let’s overcome the crisis and build the base for growth based on our consensus about goals.”   Details

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  Samyang Develops New Biodegradable Plastics Using Isosorbide - Successfully converted oil-derived biodegradable plastics into plant-derived biomass-based biodegradable plastics - Biodegrades faster and more durable than preexisting oil-derived biodegradable plastics, which consequently reduces plastic consumption - Developed new materials and presented optimized compounding products based on the convergence of food and chemical technologies   ▲The world’s first isosorbide-based biodegradable plastic and plastic film developed by Samyang Corporation. This plastic film can be used for producing disposable plastic bags, agricultural plastic mulch films (film used for covering soil to control weeds and moisture), fishing nets, etc.   Samyang Corporation (Samyang) has developed new bioplastics using isosorbide. Bioplastics are divided into biomass-based plastics and biodegradable plastics depending on their raw materials and biodegradation. Biodegradable plastics are plastic degraded in soil, seawater, composting facilities, etc. Biomass-based plastics, on the other hand, are made from natural ingredients such as corn or sugarcane.   On July 6, Samyang Corporation (CEO: Kang Ho-sung) announced that it successfully developed isosorbide-based biodegradable plastics while remedying the shortcomings of oil-derived biodegradable plastics. Isosorbide is a biomaterial produced through chemical processing of starch extracted from plants such as corn. Isosorbide is a substitute for preexisting chemical materials used to produce plastics, paints, and adhesives.   Isosorbide-based biodegradable plastics developed by Samyang Group Chemical R&D Center contains isosorbide which is a biomaterial. This material is more carbon neutral and degrades faster in soil than oil-derived materials. In addition, it is more durable and tougher than oil-derived materials. Thus, it can be made into thinner films, which consequently reduces plastic consumption. Samyang’s isosorbide-based biodegradable plastics are mainly used to produce disposable plastic bags, agricultural plastic mulch films (film used for covering soil to control weeds and moisture), fishing nets, etc.   Not only did Samyang develop the world’s first isosorbide-based biodegradable plastics, but they also succeeded in developing compounds optimized for film processing based on the convergence of food and chemical technologies. Thermoplastic starch should be compounded to process biodegradable plastics into films. As the content of thermoplastic starch which is a plant-derived material increases, it is more eco-friendly, but difficult to process into films due to low tensile strength.   Samyang is Korea’s only company that runs both starch and chemical compound business. After two years of technology convergence research, they finally developed the optimal thermoplastic starch compounding technology. Biodegradable plastics with biomass content that exceed 50% meet EU’s regulatory standard for biodegradable plastics and are able to enter the EU market.   An official at Samyang said, “We succeeded in developing isosorbide based on our technology convergence. In addition, we are continuously working on developing eco-friendly plastics based on this technology. We will put forth the efforts to reduce carbon emissions by expanding the use of biomass-based isosorbide.”   In 2014, Samyang secured the commercial isosorbide production technology for the first time in Korea and the second in the world. Samyang is building an isosorbide factory with an annual production capacity of approximately 10,000 tons at the Samyang Innochem Corporation Plant, with the goal of completing the construction in the second half of this year. In addition, it is developing a variety of applicable technologies and products in preparation for the completion of the isosorbide factory. In April 2020, Samyang was selected as the leader of the Biomass-Based Biodegradable Polycarbonate (PC) and Parts Development Project supervised by the Ministry of Trade, Industry and Energy. They are currently working on developing isosorbide-based biodegradable polycarbonates and commercializing automobile components using this material.   Details

• About Samyang Corp.Samyang pursues the vision of producing ?쏧ngredients that Add Value to Life??and endeavors to create a new future and a new Samyang.
• Corporate Social Responsibility ActivitiesOver its long history, Samyang Group has conducted diverse corporate social responsibility activities such as helping our neighbors, protecting the environment, contributing to the development of communities...
• IR InformationThis is financial information on Samyang Corp.

chemical

• Engineering Plastics Engineering Plastics more Engineering plastics are used as sophisticated materials for automotive, electrical/electronic, and machine parts.
• Ion Exchange Resins Ion Exchange Resins Detail Samyang Corp. is the only domestic maker and seller of ion exchange resins.
• EMS EMS more EMS provides the sevrvice related to the development of materials for displays, semiconductors, and IT

foodstuff