SP Samhwa has announced a new mission and vision to mark its 80th anniversary, unveiling a long-term growth strategy aimed at becoming a century-old company.
On October 16, SP Samhwa held its 'SP Samhwa Signature Day' at the JW Marriott Hotel, where it revealed its new vision and mid-to-long-term strategy.
The company presented 'Building a Comprehensive Chemical Portfolio for a Leap to a Century-Old Company' as its new mission. Its vision is defined as 'Creating the Future with Solutions for a Better World.'
This new vision reflects SP Samhwa's commitment to expanding its business areas based on 80 years of accumulated coating technology and evolving into a solutions provider that addresses the challenges faced by customers and industries. The company aims to enhance its coating and materials businesses, shift its focus from products to solutions, and expand globally beyond South Korea.
To implement its 10-year mid-to-long-term plan, SP Samhwa outlined three core strategies: expanding strategic business sectors, enhancing future research and development, and innovating smart processes.
First, through the expansion of strategic business sectors, SP Samhwa plans to enhance the value chain of its existing coating business and reorganize its business portfolio based on future growth potential. The company aims to increase the proportion of overseas subsidiary sales to 30% to strengthen its global business foundation.
Additionally, it will focus on extending its core coating technologies into functional and eco-friendly materials. SP Samhwa intends to strengthen its research and development framework to respond to changing customer and industry demands and expand the industrial areas where its coating and material technologies can be applied.
Smart process innovation is a strategy aimed at enhancing competitiveness in production sites. SP Samhwa will establish a data-driven integrated management system and smart production system to improve standardized quality control and enhance capabilities for preventing safety and environmental risks.
Earlier this year, SP Samhwa changed its name from Samhwa Paint Industrial to SP Samhwa. Kim Hyun-jung, the daughter of the late Chairman Kim Jang-yeon, was promoted to president in January and took on the role of CEO.
Kim Hyun-jung, CEO of SP Samhwa, stated, 'We will enhance our materials business based on the competitiveness of our coating business, transitioning from products to solutions, and moving from the South Korean market to the global stage. We will leverage the technology and experience accumulated over 80 years to create solutions for a better world.'
* This article has been translated by AI.
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