Ssangyong Materials

Ssangyong Materials Corporation, one of the branches of Ssangyong Group, is a leader in the field of advanced material industry. The holding company is Ssangyong Cement, the biggest cement company in Korea, which was established in 1962. Since its spin-off in July 2000, Ssangyong Materials Corporation has been growing as a global manufacturer of advanced materials throughout its brief history. Headquartered in Taegu, Ssangyong has plants in Pohang and Taegu, and a marketing office in Seoul which is the contact for global sales network. Including ferrite magnets, which are internationally recognized for their high quality, Ssangyong manufactures and supplies various ceramic-based parts and cutting tools. It also produces industrial ceramics for the automobile industry, electrical and electronic engineering, and machinery. In 1983, Ssangyong started as the first non-governmental research center in Daedeok Research Complex. Later it launched its work on advanced materials in Ssangyong Central Research Institute. In 1990, it established a ferrite magnet plant in Pohang, and then started to manufacture ceramic products in the Taegu plant in 1995. Ssangyong is the largest market supplier in the world with the best quality and technology, especially in the field of magnetron ceramics. It was officially recognized as a manufacturer of a World-Class Product by the Ministry of Commerce, Industry, and Energy of Korea. With its continuous research and development, Ssangyong¡¯s ferrite magnet manifests top-notch quality and satisfies various demands from customers. Consequently, Ssangyong won the Best Supplier Awards for the three consecutive years from Bosch, the world largest motor manufacturer. Even in the face of the financial crisis in South Korea in 1997, Ssangyong didn¡¯t stop its aggressive investment in R & D. It differentiated itself from other competitors by following the Total Productive Maintenance activities and with continuous cost reductions, which made it possible to have a consistently increasing profit margin. Year after year, Ssangyong has stepped up its efforts and has come to achieve around a 15% sales growth factor every year. The three principles put forth by the CEO, sound management of assets, fair distribution of profits, and contributions to the community, played a fundamental role in uniting labor and management. Still, the three standards serve as the groundwork for ¡°clean company¡±, a slogan for transparent and ethical management.