Myunghwan Cho

Cheil Industries

Starting as the parent company of the Samsung Group in 1954, Cheil Industries has engaged in continued corporate transformation, and has grown alongside the Korean economy, leading the market. We launched the production of fabrics, intending to localize the production of woolen textiles. We diversified our business portfolio in the 1980s to include chemicals. By developing such synthetic resins as ABS and PC, we enhanced our business competencies and established a highly-competitive market position. We went further in the 1990s, and entered the electronic materials business, involving the production of semiconductor and display materials. We have thus succeeded in adopting a strategic, multi-dimensional management system. We are now seeking and building new businesses that will bolster our future competitiveness, focusing on developing mid- to long-term growth drivers that will continue our mission of embracing change and innovation. Chemicals business accounts the largest portion of the company's total revenues. In 2012, the 2nd Polycarbonate plant construction was completed, and this expansion has improved our economies of scale to increase profitability through better cost competitiveness. We are prepared for continuous growth and will continue to lead the high value-added market strengthening our specialized technologies in new business areas. Electronic materials business is an area of strong growth. Its revenues accounted only 8.3% of the company's total revenues in 2005, but surpassed the KRW 1 trillion mark for the first time in 2009, and then, in 2012, brought in around 30% of our revenues, leading the company's overall growth. We are reorganizing our product portfolio and preparing for the new markets such as OLED to maintain our high-margin and high-growth products to solidify our future growth drivers, thus becoming a leader in the electronic materials industry.