“A Leap Toward Becoming a 100-Year-Old Company”: SP Samhwa Unveils Mid- to Long-Term Strategy and Vision

[The Financial News] “We will draw on the technology and experience we have built up over 80 years in the coatings sector to create solutions for a better world.” SP Samhwa (formerly SAMHWA PAINT INDUSTRIAL CO., LTD.) is embarking on a push to become a 100-year-old company, expanding its business beyond its existing coatings operations into functional and eco-friendly materials. 
 According to industry sources on the 19th, SP Samhwa held SP Samhwa Signature Day at the JW Marriott Hotel on the 16th, with CEO Kim Hyun-jung and employees in attendance.
 At the event, CEO Kim announced a new vision and mid- to long-term strategy. SP Samhwa had changed its name last March and unveiled a new corporate identity (CI) in April. The company plans to use this vision announcement as an opportunity to accelerate its transition into a comprehensive chemical solutions company.
 That day, SP Samhwa set “Building a comprehensive chemical portfolio to become a 100-year-old company” as its new mission. It defined its vision as “A comprehensive chemical company that creates the future with solutions for a better world.”
 To that end, the company set out three key strategic directions: upgrading its coatings and materials businesses; shifting from products to solutions; and expanding beyond the domestic market into global markets. Its specific execution strategies include expanding strategic business segments, activating future-oriented R&D, and innovating smart processes.
 First, SP Samhwa will upgrade the value chain of its existing coatings business while reshaping its business portfolio based on future growth potential. Its plan is to secure new growth drivers by extending the technological capabilities it has developed in coatings into functional and eco-friendly materials.
 The company also plans to expand its overseas business. It aims to strengthen its global business foundation by raising the share of sales generated by overseas subsidiaries to 30%. It also plans to boost business competitiveness through innovation in R&D and production processes.
 “Building on the competitiveness we have developed in the coatings business, we will upgrade our materials business while shifting from products to solutions and actively expanding from Korea into global markets,” CEO Kim said. “Through fair competition and transparent management, we will become a company trusted by the market and society.”


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