Sangmidang Holdings, the holding company of SPC Group, said on the 28th that since its launch this year it has served as a control tower overseeing the group's mid- to long-term strategy, overseas business expansion, and research and development (R&D). In particular, Vice Chairman and CEO Hur Jin-soo of Sangmidang Holdings is focusing on strengthening the foundation for future growth while inheriting the entrepreneurial spirit through the transition to a holding company structure.
Sangmidang Holdings launched by inheriting the name of the bakery "Sangmidang," which opened in Ongjin, Hwanghae Province, in 1945. "Sangmidang" carries the meaning of "a house that offers delicious and good things," and under the holding company structure it is responsible for managing the group's investment portfolio and global business strategy.
While affiliates maintain an independent management system, the company operates the "Sangmidang Council," in which the heads of major affiliates participate, to discuss common issues such as external policy, compliance, safety management, and coexistence. A "change and innovation task force" composed mainly of outside experts is also being operated.
It is also continuing social contribution activities. Sangmidang Holdings operates scholarship programs, confectionery and baking education, and support projects for vulnerable groups through the social welfare corporation "Happy Foundation."
The flagship program, "Sangmidang Happy Scholarship," supports college student part-timers and college students facing financial difficulties, with total cumulative scholarship payments to date of 5.4 billion won. It also operates confectionery and baking education programs such as "My dream is patissier" for local community center youths and the "Happy Bakery Class" for people with developmental disabilities.
It is also steadily expanding food donations. Sangmidang Holdings has donated food through food banks nationwide since 1998, and said the cumulative donation amount to date is about 327 billion won. It also operates support for refrigerated trucks for food delivery and an employee-participation donation program, the "Happy Fund."
In addition, Vice Chairman Hur is focusing capabilities on strengthening overseas business competitiveness centered on North America and securing new growth opportunities in the global market. Affiliate Paris Baguette recently opened its first airport store in the United States at Philadelphia International Airport, surpassing 300 U.S. stores.
Since entering the U.S. market in 2005, Paris Baguette now operates more than 730 stores in 13 countries, including 30 U.S. states as well as Canada, France, the United Kingdom, China, Singapore, and Vietnam.
In line with the expansion of its North American business, it is building a bakery plant in Texas. By securing local production facilities, it plans to improve supply chain stability and logistics efficiency and accelerate its push into the North American market, including the United States and Canada. A Sangmidang Holdings official said, "The holding company plays a role in supporting the group's mid- to long-term growth strategy and strengthening global business competitiveness."