Songwon announces a new organization to support its global leadership position

Ulsan, Korea – March 3, 2011 – Songwon Industrial Group has emerged as a significant global leader in the polymer additives industry. To meet the growing demands of customers worldwide, it is implementing a new organization, effective as of January 1st 2011, which is outlined in the following chart.

“In the last four years our business has surpassed the aggressive growth agenda we set”, commented Jongho Park, Chairman and CEO of Songwon Industrial Group. “We have done this largely based on a strong regional presence. However, in order to capitalize on our strengths and ensure that the very best of our products and services reaches all our customers, today and in the future, we are realigning our organization to meet our global responsibilities and continuous growth strategy.”

Maurizio Butti, has been nominated COO of Songwon Industrial Group; reporting to Maurizio there will be six global functions:

• Hans-Peter Wüest has been nominated Group CFO; in addition to the finance related activities, Hans-Peter will also supervise IT, Legal, Customer Service and Logistics

• Dieter Morath has been nominated EVP Global Sales; reporting to Dieter are the Sales and Technical service groups.

• Jim McGinley has been nominated EVP Business Management, which includes responsibility for Product management, Applications and the Sourcing Group.

• Philippe Schlaepfer will retain his position as EVP Corporate Development

• DK Park will retain his position as Head of R&D, Some functions will be realigned and concentrated in R&D which will be composed of Product Development, Process Development, Analytics and Regulatory.

• The EVP Manufacturing and Engineering function has not yet been nominated and the position will be held in the interim by Maurizio Butti.

In addition a Group Executive Committee has been established and will be composed of: Jongho Park (Chairman and CEO), DB Park (Consultant), Maurizio Butti (COO), Hans-Peter Wüest (CFO), Dieter Morath (EVP Sales), Jim McGinley (EVP Business Management), Philippe Schlaepfer (EVP Corporate Development). The EVP Manufacturing and Engineering will be announced at a later date.

“We have an excellent talent pool that continues to grow along with our business”, concluded Maurizio Butti, COO of Songwon Industrial Group. “We are confident that the new global structure will be dynamic and challenging and will allow future personal and career growth. We are working to finalize all other levels of the organization which will be completed and in place by Spring 2011.”

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Songwon Industrial Co., Ltd.
Walzmühlestrasse 48
8500 Frauenfeld
Switzerland

+41 52 635 0000

marketing@​songwon.com

www.songwon.com