Samyang Holdings has named Gunho Kim, the eldest son of its Chairman Yoon Kim, as the new president of the holding company on December 1st. Samyang Group mainly operates in chemicals, food, biopharmaceuticals, and packaging, with an estimated total sales of 4.77 trillion won($3.6 billion).
In his new role, Kim will be responsible for the group’s growth strategy and finance.
Kim was born in 1983 and joined Samyang in 2014. During his time at the company, he held various positions, including Senior Manager of the Strategic Planning Team, Senior Manager of the Accounting Planning Team, Team Manager of the Global Business Team, and President of Huvis. When working as the president of Huvis, his primary focus was on developing the future strategy of the company.
As a result of this appointment, he will step down from his role as the president of Huvis and will instead concentrate on managing the Samyang Group.
Kim has been joined by eight new executives to lead innovation in the group. The selection process was based on job performance, in line with Samyang’s policy. These young executives have achieved notable success, with seven of them being born after 1970.
The Group reorganized and established new divisions to drive innovation, strengthen business strategy, and enhance financial management capabilities.
As part of its efforts to improve its ESG management, a new manager position was established directly under the CEO to oversee Corporate Social Responsibility. Additionally, the Food Business Unit (BU) created the ‘North America Business Team’ to expand its business in the North America region.
The executive appointments and reorganization were made with stability in mind, given the uncertain business environment both internally and externally according to Samyang. There are speculations that changes were made to expand the company’s global business and improve performance. These are key goals for the Group as it approaches its 100th anniversary.