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Samyang Group: “The challenge for growth will not stop” Print
Writer administrator Hits 3704 2022.01.05

- Posted a video of a New Year’s address on the company intranet and shared as a message from management and executives after the COVID-19 outbreak

- Focusing on “specialty products, global market expansion, cash flow management, and workstyle transformation”

- “Let’s open up a new century together by harmoniously implementing short-term goals and mid- to long-term challenges for growth”



▲ Photo of 2022 Samyang Group’s New Year’s address



Chairman Yoon Kim of Samyang Holdings delivered a New Year’s address to the executives and employees of Samyang Group and said, “The crisis continues but the challenge for growth will not stop.”



Samyang Group announced on January 3 that they posted Chairman Yoon Kim’s New Year’s address on the company intranet instead of holding a New Year opening ceremony. Since the spread of COVID-19, Samyang Group has been circulating the management and executives’ messages as videos online. 



In his New Year’s address video, Chairman Yoon Kim said, “We will prepare for the next century by accelerating the reorganization of our business portfolio focusing on the global market and specialty products,” and proposed ‘accelerating the expansion of specialty products and global market, strengthening of cash flow management, and changing the company’s workstyle’ as the three management policies for this year. It means spurring the mid- to long-term growth strategy “Vision 2025” established last year despite difficulties at home and abroad, such as rising raw material prices and sluggish economic recovery.



First, Chairman Kim said, “The core goal of ‘Vision 2025’ is profitable growth through securing specialty products and expanding the global market,” and emphasized the importance of expanding specialty products and global advancement saying, “We should improve the execution of localization strategies for each global base and continue to discover new business opportunities.” Chairman Kim added, “We must thoroughly manage both cash flow and profitability by optimizing working capital, managing selling prices, and maximizing investment efficiency,” and urged, “We should improve investment efficiency of projects that are in progress and carefully proceed with new investments by setting priority.” He also said, “In order to properly utilize the newly introduced digital infrastructure throughout the company, a major change is required in the way we work and our mindset. We will actively participate in digital transformation, innovate the way we work, and have an open mind to new technologies, such as the metaverse.”



Finally, Chairman Kim said, “The completion of change and innovation is achieved through all of our participation,” and urged all executives and employees to actively participate in change by saying, “Let’s open up a new century by fulfilling short-term goals and harmoniously implementing mid- to long-term challenges for growth.”



Meanwhile, this New Year’s address video ended with a clip of Samyang Group employees who were born in the year of the tiger and shared their regrets from last year and their new year’s resolutions. Samyang Group executives and employees pledged to communicate with an open mind, seek self-development, and make sincere efforts, citing “efforts for profitability enhancement, acquisition of semiconductor materials company NC Chem, and digital transformation” as major achievements of last year.

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