Samyang Holdings heir to lead new chemicals unit in major restructuring

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Samyang Holdings heir to lead new chemicals unit in major restructuring

Published: 25 Nov. 2024, 19:54

KIM JU-YEON
[email protected]

Current Samyang Holdings president of strategy Kim Gun-ho, left, will be Samyang's new specialty chemical unit's head. Kim Kyung-jin, right, will head Samyang Biopharm. [SAMYANG HOLDINGS]

Samyang Group said it will split its chemicals business into traditional and specialty chemical divisions as part of its annual restructuring and executive reshuffle as it endeavors to push talent and resources toward specialty chemicals, a newly identified growth engine.

It will consolidate its specialty chemical operations under Kim Gun-ho, eldest son of Samyang Holdings Chairman Kim Yoon and currently president of strategy at Samyang Holdings, while Kang Ho-sung currently CEO of Samyang's chemical division, will oversee traditional chemical materials.

Samyang Group also named former ST Pharm CEO Kim Kyung-jin the new head of Samyang Biopharm and announced plans to expand its pharmaceutical affiliate's global market.

The changes are the latest reflection of Samyang Group's recent focus on specialty and international markets as overseas sales continue to drive significant portions of its success.

The newly created specialty chemicals division will consist of chip photoresist producer Samyang NC Chem, cosmetics manufacturer KCI and Verdant Specialty Solutions. Samyang acquired Verdant, a Texas-based chemical materials producer that supplies to global personal care brands such as Unilever and L’Oreal, last December in an effort to strengthen its global chemical presence. Traditional chemical materials will encompass affiliates including Samyang Innochem, Samyang Kasei and Samyang Fine Technology.

Kim Kyung-jin's appointment will serve to expand Samyang Biopharm's international reach. Kim Kyung-jin has a background in research and development (R&D) as well as management, having worked as a research lead at Swiss health care company Roche and held research positions at ST Pharm. He has been tasked with strengthening the company’s development and manufacturing and accelerating R&D for mRNA carriers.

Kim Gun-ho will serve as both Samyang Holdings president and specialty chemicals division head. The personnel change will take place from Dec. 1.

“We focused on selecting personnel based on their professional expertise, leadership and performance instead of seniority,” the group said. Three out of six of the newly promoted executives are in their 40s.

BY KIM JU-YEON [[email protected]]