Invest KOREA

Samyang Group, South Korea’s midsize conglomerate focusing on food and chemical businesses opened a new research and development center in Pangyo, south of Seoul as part of efforts to advance its technology and expand its presence in the global market.

The new R&D center named “Samyang Discovery Center” commands a total space of 44,984 square meters and has nine floors above ground and six floors below. The company has invested 150 billion won ($134 million) in constructing the Samyang Discovery Center, according to Samyang Group on Tuesday.

Samyang Discovery Center will serve as bedrock helping the company to integrate its knowledge and skills in chemical, food, and medical segments and lead innovation, said Samyang Group Chairman Kim Yoon during a ceremony celebrating the completion of building Samyang Discovery Center on June 2.

Upon launching the new R&D center, the company will bring its 400 researchers and marketing specialists from food and medical sectors who have worked in different cities under one roof.

The company will seek advancement into the global market through an integration of its business segments - chemical, food, and medical - and mergers and acquisitions, said Kim.


Samyang Group Chairman Kim Yoon is delivering a speech at the ceremony celebrating completion of building Samyang Discovery Center on June 2. [Photo provided by Samyang Group]

By Kang Young-woon

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (Jun. 6, 2017)