Chair Kim Jang-yeon of Samhwa Paint died on the 16th at age 69.
Kim contributed to the development of the domestic paint industry for more than 40 years and played a key role in helping Samhwa Paint grow into Korea's leading paint company after becoming CEO in 1994. Kim graduated from Seoul National University's department of chemical engineering and received a master's degree in business administration from Yonsei University Graduate School of Business.
Kim is regarded as a figure who emphasized the importance of research and development and led the advancement of high-performance domestic paint. Based on chemical expertise, Kim raised Korea's paint manufacturing technology to the level of global corporations. Kim also advanced paint from a simple coating material to products with diverse functions and helped make it an essential item indispensable in everyday life.
Kim was a leader who drove change ahead of the times. To secure future growth engines and achieve sustainable growth, Kim did not settle for the status quo, removed inefficiencies, and was bold in discovering new drivers of growth.
In fact, building on its No. 1 market share in architectural coatings, Samhwa Paint expanded into a variety of fields, including PCM, electronic materials, and heavy-duty anti-corrosion coatings, to grow its industrial segment. As of 2024, the industrial share of Samhwa Paint's total revenue was raised to about 40%.
The funeral will be held at the funeral hall of Asan Medical Center, with the procession on the 19th. Kim is survived by spouse Jeong Chae-young, eldest daughter Hyun-jeong (Samhwa Paint vice president), and son Jeong Seong. The funeral will be conducted as a company funeral to honor the deceased's achievements and legacy.