Focus on Global Market Expansion
Enhancing Shareholder Value through Responsible Management
Yoon Sang-hyun, the eldest son of Yoon Dong-han, Chairman of Kolmar Korea Group, has been appointed as the CEO of Kolmar Holdings, the holding company.
Kolmar Holdings announced on the 2nd that it held a regular board meeting and resolved to appoint Yoon Sang-hyun as CEO. This appointment came after former CEO Ahn Byung-joon resigned due to personal reasons, and Yoon was nominated by the board.
With Yoon’s appointment as CEO, Kolmar Holdings plans to focus on expanding Kolmar Group’s presence in the global market. Last year, Kolmar Korea opened a North American Technology Sales Center in New Jersey, USA, and this year is building a second factory in the US to target the North American market. Kolmar Global, responsible for the group’s overseas business, has established subsidiaries in Vietnam, the Philippines, Singapore, and is accelerating expansion in the Southeast Asian market.
They also plan to continuously enhance shareholder value. Since last year, Kolmar Holdings has been implementing a 'three-year shareholder return policy' through ▲a bonus share issue ▲share repurchases and cancellations ▲and increased cash dividends, maintaining a shareholder-friendly approach. Currently, they are conducting a share repurchase worth 20 billion KRW.
Kolmar Holdings intends to pursue responsible management with Yoon’s appointment as CEO. A Kolmar Holdings official stated, "With Yoon, who has led major mergers and acquisitions (M&A) and overseas market expansion for the group, directly appointed as CEO, we expect increased momentum in key group projects such as global market expansion."
Meanwhile, last month, Kolmar Holdings changed its name from 'Kolmar Korea Holdings' to 'Kolmar Holdings' to signify leading Kolmar not only in Korea but worldwide.
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