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SPC launches holding firm for global-standard governance

Published: 13 Jan. 2026, 16:04

SPC's new holding company logo [SPC]

SPC Group, a major Korean food and beverage company, said Tuesday it has launched a new holding company, Sangmidang Holdings (SMDH), to establish a transparent and professional governance structure.

Flagship affiliate Paris Croissant has previously served as the group's de facto holding company while operating the Paris Baguette bakery brand and other food and beverage chains, SPC said in a press release.

Under the new holding company structure, SMDH will function as the holding entity and Paris Croissant as the operating company, following a function-focused physical split, the company said.

SMDH will be responsible for setting mid- to long-term visions and global business strategies while supporting affiliates so they can focus on their core businesses, it added.

"Based on a transparent corporate structure and responsible management, we will establish a governance system that earns trust not only in Korea but also in global markets," an SPC official said.

The name SMDH is derived from Sangmidang, a bakery founded in 1945 in Ongjin, Hwanghae Province, in today's North Korea, by the late Honorary Chairman Hur Chang-sung, the father of current SPC Chairman Hur Young-in.

The current chairman is expected to lead Sangmidang Holdings.

Yonhap