SP Samhwa aims to become century-old company with shift to integrated chemicals

SP Samhwa, formerly known as Samhwa Paint Industrial, has laid out a blueprint for becoming a century-old company as it marks its 80th anniversary, announcing plans to expand beyond its core coatings business into materials and integrated chemicals while pushing its overseas subsidiary sales share to 30 percent.

The company said Monday it held its "SP Samhwa Signature Day" event at the JW Marriott Hotel on Friday, with about 150 employees and key partners in attendance, where it unveiled a new vision and medium-to-long-term growth strategy.

The vision announcement follows a company name change in March and the rollout of a new corporate identity in April. It gives concrete shape to the company's ambition to extend its business reach from coatings technology into materials and integrated chemicals.

SP Samhwa set "building an integrated chemicals portfolio for a leap toward becoming a century-old company" as its new mission, and defined its vision as becoming "an integrated chemicals company that creates the future through solutions for a better world."

To achieve that, the company put forward three core strategies: expanding its strategic business segments, activating future research and development, and driving smart process innovation.

The company plans to strengthen the competitiveness of its existing coatings business while restructuring its portfolio around future growth potential. It also aims to raise the share of overseas subsidiary sales to 30 percent to build a stronger global business base.

On the R&D front, SP Samhwa will extend its core coatings technology into functional and eco-friendly materials. It plans to reinforce its research and development framework to better respond to customer demand across industries and broaden the application scope of its technologies.

At its production facilities, the company will introduce a data-driven integrated management system and smart production infrastructure to standardize quality control and strengthen its capacity to prevent safety and environmental risks.

The strategy focuses on securing new growth engines built on 80 years of accumulated coatings expertise to improve the long-term sustainability of the business. The company intends to shift from a model centered on product production and supply to one that delivers technology and services tailored to customer needs.

"We will advance our materials business on the strength of our coatings operations, and move from products to solutions, from Korea to global markets," said co-CEO Kim Hyun-jung. "We will use the technology and experience built over 80 years as a springboard to create solutions for a better world."

Kim added that the company would "become a company trusted by markets and society through fair competition and transparent management."

Meanwhile, Kim completed the initial filing and first payment of inheritance tax in June. She plans to pay the remaining balance within the statutory deadlines under the installment payment regime.

SP Samhwa said it will concentrate its company-wide capabilities on executing the new vision and enhancing corporate value.