Samyang Holdings Completes Construction of Surgical Suture Plant in Hungary to Expand Its Share in European Market - New plant of Samyang Holdings in the Gödöllő Industrial Complex, Hungary with its c

- New plant of Samyang Holdings in the Gödöllő Industrial Complex, Hungary with its ceremony attended by the Deputy Minister of Foreign Affairs and Trade and the Commissioner of the Hungarian Investment Promotion Agency

- The first Korean pharma-biotech company in Hungary to produce up to 100,000 km of surgical sutures per year

- Samyang, the world no. 1 suture manufacturer, aims to expand its business in the European market, which accounts for 30% of the company's exports

Samyang Holdings (President Lee Young-joon), the world no. 1 biodegradable suture manufacturer, has established a production plant in Hungary to expand its market share in Europe. The move makes Samyang the first Korean pharma-biotech company to establish a medical device manufacturing plant in Hungary.

On Jun. 13 (local time), Samyang Biopharm held a ceremony to celebrate the completion of its manufacturing plant in Gödöllő, Hungary. The event, which included greetings, progress reports, a congratulatory speech, an opening ceremony, and a site tour, was attended by: Hungarian Deputy Minister of Foreign Affairs and Trade Sztáray Péter, Deputy Commissioner of the Hungarian Investment Promotion Agency Kerbutsky Gergely, Gödöllő Mayor Gémesi György, Korean Ambassador to Hungary Hong Kyu-dok, KOTRA’s Trade Representative to Budapest Kim Yong-deok, Samyang Holdings Chairman Kim Yoon, and President Lee Young-joon.

The new plant is located in the Gödöllő Industrial Complex, about 30 km east from the outskirts of Budapest. Built on a 36,000 m2 site with a total investment of approximately KRW 28 billion, the new plant has a gross floor area of 6,700 m2 and is capable of producing up to 100,000 km of surgical suture per year upon reaching its full operational capacity by 2025. Samyang Holdings is aiming to expand its annual output to 200,000 km based on market demand.

More than 90% of Samyang Holdings' total suture sales come from exports, and Europe is the axis of its exports, accounting for 30% of export sales. In order to expand its market share in the vast European market, Samyang Holdings established a Hungarian subsidiary in 2019. With the completion of the new production plant serving as its cornerstone, the company plans to expand its market share in the region.

Samyang Holdings' decision to choose Hungary as its outpost for expanding into the European market is driven by the country's immense potential to serve as a production hub and a logistics center. Geographically, Hungary shares borders with seven European countries. This proximity to key importers, including Spain, Italy, Germany, France and Türkiye presents a significant benefit for the company as it can ensure stable supplies and reduce logistics costs. Another significant advantage of Hungary is its membership in the European Union (EU) and its Customs Union. As a member of the EU, products made in Hungary benefit from tariff-free trade within the EU market.

“We have built this suture production plant with an annual production capacity of 100,000 km of suture on the foundation of production technology and quality control systems that Samyang Group has accumulated over the years, using our best technology and expertise,” said Kim Yoon, Chairman of Samyang Holdings. He added, "We plan to strengthen our position in the European market with the Hungarian plant as an outpost and expand our business into various fields such as biosurgery and cosmetic surgery.”

In his congratulatory speech, Hungarian Deputy Minister of Foreign Affairs and Trade Péter Sztáray stated, “We would like to congratulate the completion of the Samyang Biopharm’s plant in Hungary and express our gratitude to Samyang Group for sparing no effort to invest even in a difficult economic environment.” He continued, “The Hungarian government will continue to provide various supports and implement cooperation policies to encourage foreign companies, including Samyang Group, to invest further in Hungary.”

Biodegradable sutures make up approximately 45% of Samyang Biopharm’s total sales. Each year, Samyang Holdings supplies about USD 50 million worth of sutures to more than 190 businesses in 45 countries and is maintaining its position as the company with the largest share in the global suture market.

In addition to manufacturing surgical sutures, Samyang Biopharm has recently launched a series of innovative biosurgery products, such as: "Neosorb Plus," an antibacterial suture that reduces the risk of infection during surgery; "Monofix," a knotless barbed suture for convenient endoscopic and robotic surgery; "SurgiGuard," a styptic product made with oxidized regenerated cellulose; and "InterGuard," an anti-adhesive agent. The company is also expanding into the cosmetic surgery market in Korea and the global market with the launch of Croquis, a lifting suture for improving skin elasticity and wrinkles. -End-

■ Photography 1 Attendees cutting the ribbon at the completion ceremony of Samyang Biopharm's production plant in Hungary

 

From left to right: Kim Ju-gwan, Head of Samyang Holdings’ Production Technology; Lee Jae-du, Head of Samyang Holdings’ Medical Devices Performance Unit; Eom Tae-ung, President of Samyang Holdings; Kim Ryang, Vice Chairman of Samyang Corporation; Kerbutsky Gergely, Deputy Commissioner of the Hungarian Investment Promotion Agency; Sztáray Péter, Hungarian Deputy Minister of Foreign Affairs and Trade; Kim Yoon, Chairman of Samyang Holdings; Hong Kyu-dok, Korean Ambassador to Hungary; Kim Jeong, Vice Chairman of Samyang Packaging; György Gémesi, Mayor of Gödöllő; Lee Young-joon, President of Samyang Biopharm Group; and Kim Seon-wu, President of Samyang Biopharm Hungary.

 

■ Photography 2 Samyang Biopharm’s suture production plant in Hungary

 

■ Photography 3 Biodegradable suture “Neosorb” produced in the Hungarian plant

 

■ Photography 4 Production equipment at the Hungarian plant

 

Reference 

■ Suture Business Status of Samyang Holdings

Samyang Holdings started its suture business in 1996 with the development of the first Korean biodegradable suture. Since then, the company has continued to grow at an annual rate of approximately 10%, supplying sutures to more than 190 companies in 45 countries, including the United States, Japan, and countries in Europe, Southeast Asia, and Latin America. Samyang Holdings has been maintaining no. 1 market share in the global suture market. Its sutures were recognized as a world-class product in 2019.

Samyang Holdings has a portfolio of more than 10 types of sutures, depending on their absorbing speed and tensile strength. Its domestic production base, the Daejeon MD plant, is currently operating at the maximum annual production capacity of approximately 200,000 km of sutures. The length of the sutures the company has sold so far is 2.5 million km, which is enough to travel back and forth between the Earth and the Moon three times.

■ Main Products

Samyang Holdings focuses on developing products which are safer and easier to use than other traditional products in wound closure and care.

In 2018, the company developed Korea’s first biodegradable knotless surgical barbed suture and launched it under the brand name “Monofix.” Monofix has microscopic barbs on the surface of the thread that prevent the suture from coming undone. Samyang’s proprietary “stopper” at the end of the thread provides more secure and convenient suturing than other products in the market. As such, Monofix is often used in situations where knots are difficult to tie, such as robotic and laparoscopic surgeries, reducing surgery times.

In 2020, Samyang Holdings launched Korea’s first antimicrobial biodegradable suture, “Neosorb Plus.” Neosorb Plus is a biodegradable suture thread coated with chlorhexidine, which has antimicrobial properties. This coating effectively mitigates the risk of bacterial growth on the suture, thereby reducing the likelihood of infection in the operated area. It has been rigorously tested to meet international standards for antimicrobial properties and has been clinically proven to be comparable in terms of convenience and effectiveness to conventional biodegradable sutures. Samyang offers three types of sutures tailored to each situation; regular, removable (RM), and needleless (sutures that do not require a needle). The RM type in particular increases the efficiency of operations by allowing the needle to be easily removed by hand without the need for scissors.

■ Expanding into the Fields of Biosurgery and Cosmetic Surgery

Samyang Holdings' biodegradable material technology has paved the way for the biosurgery industry. In 2015, the company became the first in Korea and the second in the world to produce its own oxidized regenerated cellulose (ORC). Based on the technology the company developed and launched its absorbable styptic product "SurgiGuard" and absorbable anti-adhesive "Interguard" to enter the styptic market.

Using the in-house biodegradable material technology, Samyang Holdings launched “Croquis,” a lifting suture for cosmetic surgery, in late 2019. Croquis is a biodegradable suture used in thread lift procedures to improve skin elasticity and reduce the appearance of wrinkles. The global market for lifting sutures is estimated to be valued at USD 200 million, and it is experiencing a steady annual growth rate of over 12%.

Exhibitor Data Sheet