Kim Jung-soo, vice chair of Samyang Foods and known as the "mother of Buldak," has stepped down from the board of directors of Samyang Round Square, the group's holding company.
According to the food industry on the 29th, Vice Chair Kim resigned as an inside director of Samyang Round Square on the 30th of last month. After previously stepping down as CEO of the holding company last year, Kim is now leaving the board as well, effectively withdrawing from management of the holding company.
The resignation is seen as a strategic move to focus on Samyang Foods' core business centered on the Buldak brand, whose presence has grown in the global market. Vice Chair Kim has recently led global expansion and earnings growth driven by Buldak spicy ramyeon.
Hah Hyun-ok, head of strategy (senior managing director), was appointed a new inside director to fill the seat vacated by Vice Chair Kim. At the same time, Jeon Byung-woo, Kim's eldest son and head of the strategic planning division (CSO) and executive vice president as chief operating officer (COO) at Samyang Foods, was reappointed as an inside director.