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 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.
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.