A Global Hub in the Heart of Seoul...
"Strengthening Our Status as a Leading K-Food Company"
Fourth Headquarters Relocation Marks a Turning Point
in Samyang Foods’ 64-Year History
Samyang Foods will relocate its headquarters to a new office building in Chungmuro, Jung-gu, Seoul in the fourth quarter of this year. The move has become unavoidable as the current site in Hawolgok-dong, Seongbuk-gu has been designated as a redevelopment zone. In addition, the company aims to secure more space to accommodate its rapidly growing workforce and to support the expansion of its global business.
On May 16, Samyang Foods announced that it has agreed to purchase the land and building in Chungmuro 2-ga, Jung-gu, Seoul from the real estate development company Namsan PFV for 227 billion KRW. This amount represents 14.2% of the company’s total assets as of the end of last year (1.595 trillion KRW). The entire transaction will be paid in cash. Samyang Foods plans to complete construction of the new headquarters in Chungmuro 2-ga, Jung-gu, Seoul by August, finish the interior work, and begin moving in during the fourth quarter of this year. The new building will have a total floor area of 20,867 square meters and will consist of six basement levels and 15 floors above ground. Once completed, not only the headquarters staff but also employees from affiliated companies currently dispersed nearby will be able to work together in one location.
A Global Hub in the City Center... "Strengthening Our Status as a Leading K-Food Company"
The Chungmuro area, where the new headquarters will be located, is a central business district in Seoul adjacent to Myeong-dong and Euljiro. Samyang Foods believes that its downtown location will help expand touchpoints with global consumers and strengthen its position as a leading K-Food company, represented by the "Buldak" brand. A Samyang Foods representative explained, "As global sales are rapidly increasing, we are actively recruiting overseas talent, and a central city location is advantageous for attracting top talent." In particular, the Myeong-dong area, which is popular among young people and foreign tourists, is seen as having significant strategic value for brand promotion and as a customer experience space.
This relocation is not simply a move of office space, but a decision to overcome physical limitations. Since 1997, Samyang Foods has been using the Hawolgok-dong headquarters, but the building, with a total floor area of only 9,600 square meters, can no longer accommodate the rapidly increasing number of employees. Currently, some staff members are already working in separate spaces leased near the headquarters.
In fact, the total number of Samyang Foods employees has more than doubled in the past 10 years, rising from about 1,100 in 2015 to 2,390 this year. Once the relocation is complete, approximately 400 employees from affiliated companies in Seoul, such as Samyang Round Square, will also be able to move in together.
Additionally, the site of the current Hawolgok-dong headquarters was designated as a redevelopment zone under Seoul City's "Fast-Track Integrated Planning" in April last year, making it impossible for the company to utilize the site in the medium to long term.
Fourth Headquarters Relocation, a Turning Point in Samyang Foods’ 64-Year History
This marks the fourth headquarters relocation in Samyang Foods’ history. The company was founded in Hawolgok-dong, Seongbuk-gu in 1961, moved its headquarters to the Dobong plant in 1967, and established a new office in Susong-dong, Jongno in 1975. In 1997, it returned to Hawolgok-dong, and now, after 64 years since its founding, the move to Chungmuro is expected to be a symbolic change of space.
Samyang Foods emphasized, "The new headquarters is a strategic base to prepare for Samyang’s next 100 years," adding, "This is not simply a change of space, but an important turning point for innovating our corporate culture and strengthening our global competitiveness."
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