Kim Yoon, Chairman of Samyang Group, Focuses on Core Business Restructuring and Enhancing Execution... Resolves to Achieve 'Vision 2025'

Kim Yoon, Chairman of Samyang Group (Photo by Samyang Group)

[Asia Economy Reporter Seungjin Lee] Kim Yoon, Chairman of Samyang Group, emphasized that "in order to respond to the deepening uncertainties of the new normal era, we must focus on restructuring core businesses and enhancing execution capabilities."

Samyang Group announced on the 2nd that it held the '2021 Group Assembly' online. On this day, Chairman Kim Yoon directly shared major achievements and management policies with employees through an online opening ceremony and assembly. Since the implementation of social distancing due to COVID-19, the company has actively utilized online platforms to communicate with employees.

Through a video message, Chairman Kim emphasized three management policies for responding to the current crisis and achieving mid- to long-term growth: 'enhancing execution of Vision 2025,' 'continuing digital innovation,' and 'establishing a new HR system.'

Vision 2025 is Samyang Group's mid- to long-term growth strategy. The goal is to focus on nurturing businesses related to health and wellness, discover new opportunities in eco-friendly and advanced materials sectors, and leap forward as a global specialty (high-functionality) solutions company. Key points include qualitative growth through business structure advancement, operating 30% of assets in the global market by 2025, and generating more than 60% of profits from specialty products.

Chairman Kim stated, "To enhance the execution of Vision 2025, we must strengthen specialty businesses, accelerate global expansion, utilize open innovation, and discover convergence businesses." He urged, "To strengthen specialty sectors, we will expand the scale of nutrition, medical, and personal care businesses to focus on the health and wellness field, and accelerate entry into eco-friendly sectors through the successful commercialization of biodegradable plastic raw material isosorbide and concretization of recycling businesses."

Chairman Kim also requested digital innovation and the establishment of a new HR system. Since last year, Samyang Group has been promoting ERP reconstruction and the spread of Robotic Process Automation (RPA) technology to build digital systems and change working methods. This year, to respond to the extremely heightened external uncertainties by raising the competency levels of its members, Samyang Group has undertaken a major overhaul of its HR system. With the introduction of the new HR system, the company is creating an environment where the company and its members grow together and all employees voluntarily immerse themselves in performance creation.

Chairman Kim said, "Vision 2025 is a goal that can only be achieved when the company and employees grow together," and added, "Let us overcome the crisis together based on consensus on the goal and secure a foundation for growth."