Select the period (View all / Recent one month / Recent three months) or search for the articles needed by entering the keyword.
Kolon Group’s New Em...
- Gathering a kit of school supplies for children of low-income households
- Continuing the tradition of starting out as a Kolon Group member by participating in the Dream Pack Campaign launched in 2012
- Funded by donations of employees and matching grants accumulated over the past year
- Delivering Dream Packs to over 1,200 children through 41 local child welfare centers
New employees of Kolon Group kicked off their careers at Kolon Group on the 8th by participating in the Dream Pack Campaign at the Kolon Human Resources Development Center in Yongin, Gyeonggi-do. This volunteer activity is staged jointly by the Kolon Social Volunteers Group (headed by Suh Change-hee) and Korean Food for the Hungry International, an international NGO for hunger relief, to gather and distribute a kit of school supplies for children of low-income households before the start of a new semester.
Kolon Group has continued the tradition of engaging all new employees in producing the Dream Packs for the underserved and delivering them in person as their very first task as a Kolon Group member over the past nine years since 2012.
Each Dream Pack consists of 15 school supplies and winter items and is funded by the donations made by employees and the company’s matching grants accumulated over the previous year. Employees are to pass through the “donation angel’s gate” installed at the entrance of the head office in Gwacheon or Kolon One & Only Tower in Magok-dong on the monthly payday or donate KRW 1,000 by accessing the fund-raising program via the Group’s intranet.
The dream packs made on the day are delivered to over 1,200 children via 41 local child welfare centers across the nation. The participants also visited local child welfare centers in nearby neighborhoods to deliver the dream packs, read cards with warm messages of support, and share memorable moments with the participating children. Kim Seol-ho, who visited a child welfare center located in Gwanyang-dong, Anyang, Gyeonggi-do, said, “It feels very rewarding to be able to make contributions to society through my very first activity as a Kolon Group member. The smiles on those children’s faces filled me with happiness.”
The Kolon Social Volunteers Group was founded in 2012 and has engaged in a variety of community outreach activities to “help children envision their dreams” under the slogan “A Cornerstone for Dreams – Dream Partner”. It operates the Hello Dream program aimed at guiding underprivileged youth to find and nurture their dreams. Last year, the accumulated number of volunteers reached over 8,000.
Kolon Group Declares...
- Representing our will to boldly take on new challenges in the business environment with growing uncertainties like an adept surfer
- Outlining plans for the organization and individuals to reinforce the mindset as professionals, improving the flexibility of the horizontal corporate culture, etc.
- Aiming to drive Kolon Group’s growth by discovering items that will serve as future prime movers
Kolon Group held the enterprise-wide kick-off meeting for the year on the 2nd at Kolon One & Only Tower in Magok-dong attended by subsidiary CEOs and employees holding the position of team head or higher.
At the meeting, “Surfing 2020”, the vision for Kolon’s Empathy Management, was declared by the One & Only Committee (chaired by CEO Yoo Seok-jin of Kolon Corporation). The new vision takes its name from the Group’s determination to create Kolon’s own “next big thing” by responding to the fast-changing business conditions and uncertainties of the future like a surfer who skillfully rides the waves, turning each wave into an opportunity for growth.
In particular, this year’s management principle prioritizes “empathy”. This means all the subsidiaries should practice self-led and responsible management and encourage all employees to work together as one to achieve success.
This was the second kick-off meeting organized by the One & Only Committee, the council of Kolon Group’s CEOs formed after the resignation of Chairman Lee Woong-yeol at the end of 2018. The Committee emphasized its will to continue striving for innovation rooted in Chairman Lee’s decision to resign from all positions not to become an obstacle to the Group’s march forward.
The directions for future steps to be taken by the organization and its individual members were also given. The Committee highlighted the importance of seeking new opportunities by taking on new challenges and encouraged all employees to develop top-tier competence as professionals and fulfill their duties with utmost care. The Committee also announced the plan to apply the new position and title system ensuring a horizontal corporate culture and the flexible performance assessment system to all subsidiaries in order to allow the organization to evolve in a manner that facilitates each individual’s success.
The Committee pledged, “We cannot survive unless we find items that can preempt the future market. We must focus on creating the ‘next big thing’ unique to Kolon Group.” It added, “Kolon Group has taken pride in laying the nation’s industrial foundation, improving people’s quality of life, and keeping its integrity over the past 64 years. We will work harder to build a better Kolon powered by our vision and passion for success.”
Kolon Group is projected to record continued growth throughout this year following last year as its new material businesses with high added value, such as aramid fibers and CPI® (colorless polyimide) film, are expanding and its construction sector profits are stabilizing. It also plans to accelerate R&D and investment to preempt the market of materials and components related to hydrogen vehicles in line with the promotion of the hydrogen economy.
Kolon Group continued with its “badge management” practice this year by distributing the badge depicting the management principle of empathy to all employees. The badge shows a Kolon employee riding a colossal wave on a surf board. Kolon Group’s employees have been taking part in wearing the management principle badges for each year over the past eight years since 2013.
Kolon Industries Pio...
Kolon Industries (CEO Jang Hee-goo) announced on the 19th that it concluded an MOU with Korea Clothing and Textile Recycling Association (Chairperson Koo Seong-ja) at Kolon One & Only Tower to develop and undertake projects related to eco-friendly plastic regeneration technology.
In order to help resolve the global issue of plastic waste, Kolon Industries is focusing on the development of eco-friendly PET regeneration technology. The existing heat treatment-based recycling process has limited applicability and is likely to incur additional environmental problems such as the emission of harmful substances. However, the new PET dismantling method being developed by the Kolon Future Technology Institute is evaluated to be more environmentally responsible as it can reduce energy consumption by 33% and CO2 emissions by over 38% with its chemical regeneration technology compared to the existing recycling process.
PET is found in plastic products, clothing, and textiles. Kolon Industries’ PET regeneration technology is expected to garner acclaim in the eco-friendly material market as it is engineered to dismantle recycled PET to the level of ultrapure materials and regenerate PET useable for all products regardless of the type and contamination level of the recycled materials.
Kolon Industries anticipates that the Association’s waste clothing and waste textile management network will help secure recycled materials on a stable basis and advance the early commercialization of the technology and the creation of a circular economy ecosystem through this MOU.
Kolon Industries plans to aggressively expand its business scope in the PET regeneration market throughout the future. Its goal is to install the pilot PET chemical regeneration facility in 2020 and mass production equipment by 2023 and start expanding its mass production plant in 2025, thereby strengthening its foothold in the recycled PET market.
Kolon Industries’ FnC launched RE;CODE in early 2012, an upcycling brand that instills new value into discarded clothes. In the early days, it focused mainly on dismantling and redesigning the three-year-old inventory of FnC’s brands on the verge of being incinerated. Recently, the range of upcycled materials has continued to grow to encompass military uniforms, parachutes, and airbags. Furthermore, FnC’s eight brands collaborated and released Upcycling Sweetshirts made with textile generated from waste PET last October. RE;CODE is expected to grow into a total upcycling solution brand that enables the production of clothing with materials regenerated using Kolon Industries’ technologies and the regeneration of PET from such clothing.
Director Han Seong-su of the Kolon Future Technology Institute said, “The environmental issues connected to waste plastics are critical tasks facing humanity, and corporations equipped with advanced technologies such as Kolon Industries must take the lead. The Kolon Future Technology Institute remains dedicated to developing related technologies and joining hands with local and international partners through various projects.”
Donate Blood and Cel...
Kolon Group will stage the “Donate Blood and Celebrate the New Year with Kolon!” campaign to contribute to ensuring a stable supply of blood for patients in need. Blood donations by employees will take place consecutively for ten days from the 2nd led by the Kolon Social Volunteers Group at eight business places from Kolon One & Only Tower in Magok-dong, Seoul, to Gwacheon, Gangnam, Gumi, and Songdo.
This campaign is Kolon’s leading community outreach program held at major business places nationwide twice a year in summer and winter when the blood supply becomes unstable. The number of blood donors plunges to its lowest level in the winter months due to vacation and holidays. In order to help resolve this issue, Kolon Group has hosted the blood donation campaign since 2013.
Han Gi-baek of Kolon Industires, who donated blood on this day, said, “I feel I have wrapped up this year in the best way possible by donating blood for child patients. I decided to make blood donations whenever possible throughout the future.”
The blood donor certificates of the Kolon employees will be delivered to Korea Childhood Leukemia Foundation to be used for child patients with cancer.
KOLON Group Conducte...
Kolon Group is conducting a campaign to "donate blood and take a vacation" to support stable blood supply ahead of the full-fledged vacation season. It will be held sequentially from July. 22 to Aug. 2 at Kolon One&Only Tower in Magok-dong, Seoul, and nine other workplaces across the country, including Gangnam, Gumi, Gwacheon and Songdo.
KOLON Group Announce...
▷ The management policy for 2019 reflects KOLON Group’s will to take on challenges for success like a super baby with unlimited possibilities.
▷ The management policy for 2019 emphasizes the need to expand Cross-Functional Communication (CFC), a communication culture unique to KOLON Group, and promotes planning with precision, timely execution, and innovative ways of doing business.
▷ The New Year’s message was announced under the name of the One & Only Committee as Chairman Lee Woong-yeul resigned last year.
○ KOLON Group held a Group-wide kick-off meeting for the year on the 2nd at KOLON One & Only Tower in Magok-dong with CEOs and employees at the team head level and higher present. It is the first kick-off meeting for the year organized by the One & Only Committee, a consultative body of major affiliate CEOs created in the wake of Chairman Lee Woong-yeul’s resignation at the end of last year.
○ KOLON Group declared “RE;BIRTH 2019” as its management policy for this year in the New Year’s message released by the One & Only Committee. “RE;BIRTH 2019” reflects KOLON Group’s commitment to pursuing change as if being born again and taking another leap forward towards success. The Committee said in the New Year’s message, “We need to meditate on Chairman Lee’s determination to resign last year to bring true change. We must transform ourselves to build a stronger, forward-marching KOLON through drastic innovation.” The New Year’s message was read by Vice Chairman Ahn Byung-deok as the representative of the Committee.
○ The Committee announced its plan to coordinate management issues of different subsidiaries, propose the directions for growth, and seek ways to make bold investments for a brighter future. It also emphasized that it would deliver optimal solutions to help the Group reap desired results centering on the holding company.
○ The Committee proposed tasks and improvement points for the realization of change. First, it shed light on the importance of the thorough analysis of customers and market environments and the prompt implementation of detailed executional plans to ensure the success of individuals, divisions, and subsidiaries. It emphasized that strategies or executional plans created just for show would no longer be tolerated. It also required employees to come up with a new framework for business. Changes must be brought to the reporting system, KPI, and other existing work procedures, while each employee must continue to achieve innovation through contemplating the optimal work process using PI (Process Innovation) as a tool to obtain a competitive edge.
○ The Committee also highlighted the importance of expanding Cross-Functional Communication, a corporate culture unique to KOLON Group centering on bringing people of different ages and positions together through close communication. It encouraged employees to take full advantage of the internal reverse mentoring program to learn from younger employees and always remain prepared to learn and take advice from external experts based on the mindset of 孔子穿珠 (gongjacheonju), meaning “even Confucius has to seek out a village woman to learn how to thread beads.”
○ KOLON Group distributed its management policy badge to all employees this year and continued its “badge management” for the seventh consecutive year. This year’s management policy “RE;BIRTH 2019” was embodied into a badge designed like a super baby holding up a barbell and a badge shaped like a shoe, symbolizing the first bold step towards a successful future. Together, the two badges signify KOLON Group’s commitment to exercising imagination to make the impossible possible, just like showing uncanny strength and taking the first step into uncharted territory.
○ The management policy badge of the year has been designed and worn every year since 2013. In the first year, it was the Success Puzzle badge, meaning that no puzzle can be complete if even one piece is missing, followed by the “Addition, Multiplication, and Division” badge in 2014, meaning that energy for success can be generated by adding each individual’s commitment, multiplying each individual’s passion, and dividing difficulties. The “Timer 2015” badge was worn in 2015 to promote executional excellence, the “Connecture 2016” badge to advance the successful connection with the future in 2016, and the “Hurdling 2017” badge in 2017 to highlight the importance of cooperation to overcome crises. The employees wore the “CATCH 2018” badge last year, which symbolized KOLON’s determination to flexibly and safely respond to difficulties and catch successes.
KOLON Industries Com...
▷ KOLON Industries concluded an MOU with CrucialTec, a biometric technology specialist, to jointly develop a flexible display grafted with a biometric solution.
▷ It plans to make inroads into the new market with the development of premium display technology.
▷ This MOU represents the formation of a mutually beneficial business model based on cooperation between a large corporation and an established venture company.
KOLON Industries (CEO Jang Hee-goo) is taking steps to expand its transparent polyimide film business with CPI®. It announced on the 6th that it had concluded an MOU with CrucialTec, a biometric technology specialist, to jointly develop a flexible display grafted with a biometric solution.
Through this joint development, KOLON Industries plans to come up with a new product with enhanced security by grafting CrucialTec’s fingerprint recognition sensor function onto CPI®. CrucialTec recently completed the development of its display fingerprint solution (DFS), which enables fingerprint recognition on all types of displays without the need for the application of separate sensors. The two companies have joined hands to tackle the market for new premium displays applied with biometric technology.
Premium display products applied with a biometric solution can be utilized for smartphones including foldable phones and all security-related devices requiring fingerprint recognition including ATMs and kiosks. This solution enables fingerprint recognition on all types of displays. Display products mounted with this solution are expected to be applied to a wide range of areas as they are easy to use and highly secure.
This joint development is expected to set a good example of mutually beneficial cooperation between a large corporation and an established venture company and fusion between different technological areas to create a new market.
Vice President Seong Ik-gyeong in charge of CPI® at KOLON Industries said, “We will develop CPI® into a versatile product that can be applied to diverse flexible display devices, including foldable smartphones. We will strive to build a new IT ecosystem and upgrade our status as a global material manufacturer through this joint development.”
CPI® developed by KOLON Industries is a next-generation display material that is as transparent as glass, durable, and resistant to cracks and scratches even after being folded hundreds of thousands of times. KOLON Industries has 104 domestic patents and 200 international patents regarding CPI®, which account for 80% of all domestic patents and 50% of all international patents related to polyimide films, respectively. It is also Korea’s only polyimide film manufacturer equipped with a mass-production system.
CrucialTec is an established company that developed the world’s first compact OTP (Optical TrackPad) mobile input device, a fingerprint recognition module, and a new capacitive touchscreen and supplies such input solutions to global mobile device manufacturers.
KOLON Group Chairman...
“I will return to who I was before I assumed the leadership of KOLON Group and begin a startup.”
Chairman Lee asked KOLON employees to think of his resignation as “momentum for true change”.
▷ Chairman Lee chose to step down to bring Group-wide change.
▷ Chairman Lee will stop engaging in management activities across-the-board from 2019.
▷ The control tower role of the holding company will be further reinforced and each subsidiary will be more stringently required to practice responsible management.
▷ The One & Only Committee, a consultative body composed of affiliate CEOs, will take charge of coordinating pending issues facing KOLON Group.
▷ CEO You Seog-jin of KOLON Corporation was promoted to the president and will hold the position of the chairperson of the One & Only Committee.
▷ Chairman Lee’s son Lee Kyu-ho was promoted to the executive director level and COO of the FnC Division of KOLON Industries in charge of fashion.
▷ Four female executives were all promoted and appointed for the tenth consecutive year.
O KOLON Group Chairman Lee Woong-yeul (63) will step down from all leadership positions in 2019.
O KOLON Group announced on the 28th that Chairman Lee, who has led management over the past 23 years, would step down from all leadership positions of KOLON Group and its subsidiaries including KOLON Corporation and KOLON Industries on January 1, 2019.
O Chairman Lee went to the podium without notice at the end of the Success Puzzle session attended by over 200 employees at the One & Only Tower in Magok-dong, Gangseo-gu, Seoul, on the morning of the 28th and stated, “I will leave KOLON Group at the outset of the New Year and will not engage in the Group’s management.”
After the session, which was broadcast live to the Group’s employees, Chairman Lee officially announced his resignation by posting a letter addressed to the employees on KOLON Group’s intranet. KOLON Group said no resignation ceremony would be held.
O Through the letter, Chairman Lee said, “I will now return to who I was prior to assuming the leadership of KOLON Group and start my own business. I plan to put all my experiences and knowledge that I have accumulated so far to the test outside of KOLON Group.”
He added, “When I assumed the Chairman position at the age of 40 in January 1996, I pledged to myself to steer KOLON Group only for the next 20 years. Three more years have passed from the deadline I set. There is a Chinese idiom 時不可失 (sibulgasil), meaning time once lost is lost forever. I am leaving because it is now or never, and I will never be able to muster up this courage again to take on new challenges.”
Chairman Lee continued, “I have led a more privileged life as I was born with a gold spoon in my mouth, but it also burdened me with greater responsibilities. That gold spoon of mine left behind some cracks in my teeth. I will forgo all my privileges and responsibilities now.”
O During the announcement of his resignation, Chairman Lee asked the Group’s employees earnestly to further expedite change and innovation. He said, “We will be weeded out in an instant unless we keep abreast with the latest changes in this unpredictable industrial ecosystem. I am leaving now for the Group to find new momentum to make another leap forward and usher in a new era.”
Chairman Lee confessed that he had reached his limit after years of remaining at the forefront of KOLON Group’s evolution and that “it was time for me to step aside to bring true changes to the Group.” He stressed that his decision to step down was aimed at creating a new driving force for the Group’s change and innovation.
O KOLON Group said that, due to Chairman Lee’s resignation, the control tower role of the holding company will become even more important and each subsidiary will be required to more stringently practice responsible management under the leadership of the holding company.
KOLON Group also announced that the One & Only Committee, a consultative body consisting of affiliate CEOs, would be established to take charge of tackling major management issues such as the Group’s identity, long-term management directions, large-scale investments, cooperation and conflicts of interest between subsidiaries, etc.
KOLON Group said, “We have been establishing a line of young, dynamic CEOs through personnel appointments centered on generational shifts over the past several years. The young CEOs are expected to propel the Group forward for greater innovation.”
O KOLON Group promoted the former Vice President and CEO You Seog-jin (54) of KOLON Corporation to the president and CEO position through the regular executive appointment of 2019 to lead the Group’s holding company. CEO You is also to serve as the chairman of the One & Only Committee, which will be newly launched. CEO You was recruited as Executive Director of Strategic Planning at KOLON Corporation in 2013 and was appointed Vice President and CEO last year.
O Managing Director Lee Kyu-ho (35) in charge of Strategic Planning at KOLON Corporation was promoted to the executive director level and COO of the FnC Division of KOLON Industries. The COO supervises the operation of the fashion business of KOLON Group.
A person connected with the Group said, “Chairman Lee decided to charge Executive Director Lee with the operation of the Group’s key business first, instead of handing over the control of the company, to engage him in the management step-by-step. It appears Chairman Lee placed a premium on preparing his son to head the Group by accumulating experiences and abilities.”
O This executive appointment was also noted for the promotion of four female executives at once.
Managing Director Han Gyeong-ae, who has been in charge of the operation of casual brands such as RE;CODE and SERIES; of KOLON Industries’ FnC Division, was promoted to the executive director level while General Manager Lee Su-jin of KOLON Corporation’s Business Management Office was promoted to the assistant managing director level as the Group’s first female executive in finance.
Assistant Managing Director and Director Kim Su-jeong of KOLON Life Science’s Biopharmaceutical Research Institute in charge of R&D of biomedicine such as Invossa (the world’ first cell and gene therapy for osteoarthritis) and Assistant Managing Director Gang So-yeong heading KOLON Industries’ cosmetics business TF were both promoted to the managing director level.
KOLON Group has promoted female executives for the tenth consecutive year through this executive appointment, including the milestone year 2013 when the Group’s first female CEO was appointed. The percentage of women among new recruits hired from open recruitment for college graduates has hovered over 30% over the past ten years, and a female mentoring system is in place to cultivate female leaders.