Samyang
Samyang was
founded as “Samsu Company “ on October 1,,1924 by Yeon-Su
Kim.Capitalism was still new in Korea,and Yeon-Su Kim wanted to
see Korean capital participate in an economy that was
industrializing under the forced guidance of Japan,which had
taken over the country fourteen years earlier. He wanted to
contribute to the well-being of Koreans who lacked control over
their own economic destiny. In its early days,Samsu Company
concentrated mostly on the modernization of Korean agricultural
areas with more rational farm management practices. It also
operated a large commercial farming facility in Manchuria,through
which he also sought to help Korea industrialize.
Samsu Company changed its name to Samyang in 1931,the year the
company began extending Korean territory through large-scale land
reclamation projects. In 1939 Samyang became the first Korean
company to establish an overseas plant facility when it
established the South Manchuria Spinning Company. After
liberation from Japan in 1945 and the division of the Korean
peninsula that soon followed,Samyang was forced to give up its
farming and plant investments in Manchuria. It was at this point
in its history that Samyang gradually began to convert its
capital assets from agricultural capital to industrial
capital,eventually constructing its first sugar refinery in 1955.
Having been responsible for the management of an establishment
called Kyongsong Spinning Company from as early as 1922,Samyang
acquired the Jeonju Spinning Company in 1963 and established the
Samyang Wool Spinning Company the same year.It was in 1969 that
Samyang began first entered the polyester market when it built a
large scale manufacturing plant in Jeonju.
Samyang began active diversification in the seventies. It began
producing feed,became the first in Korea to work with
ion-exchange resin,and purchased Samyang Heavy Machinery,all
important business areas for Korea at the time. In the eighties
Samyang acquired Samyang Genex,Shinhan Flour Mills,Samnam
Petrochemical,and Samyang Kasei,as it entered into the
foodstuff,polymer,and chemical industries.Later,in the
nineties,Samyang entered a new era of high-technology as it
established Samyang Tex and Samyang Data Systems.
Now in the 21st century,Samyang seeks to achieve qualitative
growth through concentration and specialization instead of
quantitative expansion.In 1990 Samyang began exporting polyester
manufacturing and plant construction technology to Pakistan,where
it established Dewan Salman Fibre Ltd. An additional
international venture has since been established,SY Textile in
1993,located in Vietnam.These overseas businesses are part of the
basis on which Samyang strives towards increased globalization.
It was during this time that Samyang entered the pharmaceutical
industry by investing in pharmaceutical research and development
ventures with globally recognized medical research companies to
pursue research in drug delivery systems (DDS).Since May of 1996,
Samyang has been producing various patches and medical devices at
a plant in Daedeok devoted exclusively to DDS.In 2000 Samyang
Genex completed a plant dedicated to the production of Genexol
(generic name: Paclitaxel),an anticancer compound,also located in
Daedeok.The plant has now begun work in pharmaceutical and
fermentation research as Samyang Genex enters the bioengineering
industry.
Participation in joint ventures such as Huvis
Corp.,Honeywell-SYSCO Co.,Inc.and RESKO Corp.is only a part of
Samyang ’s efforts to actively
adapt to a changing world business climate,one in which new
strategies of multi-party cooperation and innovative management
will be what determines a company ’s competitive advantage in
the 21st century.Our basis for sustained growth will be
future-oriented high-tech research at the Samyang Central R&D
and the Samyang Genex Biotech Research Institute,both located in
Korea ’s famous Daedeok Research
Complex.
Samyang will continue to be a company characterized by creativity
and innovation.Vigorous and transparent management will help
assure that Samyang becomes a company of truly world-class
competitiveness.
Engineering
Plastics
Engineering plastics have far better transparency,heat
resistance,and mechanical,and are used in the production of
electric parts,electronic products,and automobile parts.They are
used as alternatives to metal and thermal setting resins as well
as high-function material for optical technology,an area of
considerable growth potential.Samyang has combined its extensive
technical background in polymer chemistry with the highly
functional compounding technology of Mitsubishi Chemical Corporation to manufacture a variety
of engineering plastic products,including Tribit,Tripet,
Trirex,Trilen,and Triloy.The research never ceases as Samyang
seeks to find and develop new areas of application for its
existing and developing engineering plastics.
Ion Exchange Resin
Samyang first began producing ion exchange resin in 1977 through
a technology-sharing agreement with Mitsubishi Chemical Corporation.Ever since then Samyang
has endeavored to develop specialty resins and high-function
products based on decades of experience in producing ion exchange
resins.Samyang is also applying technology obtained through an
agreement with Nippon Rensui Corporation of Japan that is used in ion
exchange equipment.Samyang is doing its part as Korea ’s only ion exchange resin company,and is
providing technological services such as equipment
design,precision process development,and other technological
consultation.Ion exchange resins were initially used for
desalinization,but lately are also being used in
separation,refining,decolorization,and as a catalyst for foods,
pharmaceuticals,precision chemical processes,semi-conductors,and
nuclear power.Samyang has been diversifying its product line
beyond cation and anion exchange resins to include synthetic
adsorbents,chelate resin,uniform particle size resin,and resins
for ultra pure water.Samyang is making every effort to satisfy
the needs of our customers,providing quality that is even further
assured through our recent award of the ISO9002 and ISO14001
certification in March of 2000.
PET Bottles & Preforms
Samyang began producing PET bottles &preforms in 1986.It
presently operates 13 automated production lines in Daejeon and
Pyeongchang.Samyang PET bottles are widely known for their
exceptional stability,pressure resistibility, light
weight,transparency and quality satisfying every user all over
the world.Demand for our PET bottles continue to increase every
year,because they are appropriate alternatives to glass
bottles,cans,and other plastic containers for every drinking or
beverage.Samyang continues to meet the ever-changing needs of the
consumers with new PET bottles by constantly developing new
materials and new technology.
PET Bottle Recycling
As a producer of PET bottles,Samyang is well aware of the
seriousness of the environmental problems caused by used PET
bottles,and in response has built a PET bottle recycling plant in
Shihwa in part with technology from PureTec of the United States.The facility has a yearly
recycling capacity of 12,000 tons,and is leading the way in PET
bottle recycling.
The plant serves as an example of the possibilities for recycling
technology,and students,housewives,and local government bodies
often tour the facilities to better understand the importance of
preserving the environment.
Samyang ’s work in recycling PET
bottles is setting the example for Korean industry,having become
the first domestic company to produce,distribute,and recycle what
would otherwise pollute our environment.
Polycarbonate
Samyang ’s polycarbonate resin
possesses outstanding transparency,heat resistance,and mechanical
properties,the reason why it is one of the five principle
engineering plastics in general use.Samyang Kasei,a Samyang subsidiary produces
approximately 50,000 tons of polycarbonate resin yearly,and is
currently completing work on increasing production to 85,000
yearly beginning in 2002.Samyang Kasei is providing a stable
supply of much needed polycarbonate resin for the domestic market
and continues to work for the betterment of Korean industry
through new technological development.
Samnam Petrochemical Co.,Ltd.
Samnam Petrochemical was jointly established by Samyang Corp., LG
Caltex Oil Corp.and Mitsubishi Chemical Corp.of Japan in 1988
with capital share of 40:20:40 respectively.Samnam Petrochemical
specializes in the production of QTA,which is more cost
competitive and more reliable in quality-wise than PTA among
TPA.Samnam has a world scale QTA producing capacity of 800,000
tons and PTA producing capacity of 300,000 tons totaling 1.1
million tons of TPA producing capacity in only one plant site
which is second largest in the world.TPA is widely used as a raw
material for polyester fiber,PET bottles,video and packaging
film,paint and engineering plastic.Due to its superior
characteristic such as heat proof,abrasion resistance and
electric insulation technologies are being developed in various
applicable fields including bottles,electrical &electronic
appliances,industrial materials,construction materials and
machineries.Recently QTA is provoking passionate interest and
expectation to the polyester companies in China of which QTA
shall contribute of saving cost to them as QTA did and doing to
Korean polyester companies.
However,with production limit,Samnam could not export much of QTA
to China.Accordingly, Samnam made a very hard decision in agony
to expand another 400,000 tons of QTA plant which will be
completed at the end of year 2002 in order to meet solely
customer satisfaction.
Samyang Kasei Co.,Ltd.
Samyang Kasei is the first company in Korea to produce
polycarbonate resin,and currently has the capacity to produce
50,000 tons yearly.Polycarbonate resin is one of the five major
engineering plastics,and is of superior transparency,heat
resistance,and mechanical property.Samyang Kasei is working for
the continued and stable supply of polycarbonate resin as it
solidifies its position in the industry through superior
technological development that will in turn contribute to the
further development of Korean industry.