[Edaily Reporter Shin Ha-yeon ] SM Group affiliate KUK-IL PAPER MFG CO.,LTD(078130)will change its name to “SM Kukil” and transition to a new management structure led by CEO Ahn Jang-soon. The company plans to strengthen its existing specialty paper business while expanding its business portfolio through mergers and acquisitions (M&A) and the development of new business opportunities.

SM Kukil announced on the 3rd that it held an extraordinary general meeting of shareholders on the 2nd and approved, as proposed, amendments to the articles of incorporation for the name change and the appointment of Ahn Jang-soon as an inside director. Director Ahn was appointed as the new CEO at a board of directors meeting held after the shareholders’ meeting.

The company stated that, with this name change, it intends to strengthen its identity as an SM Group affiliate and leverage the Group’s business network and management capabilities to enhance the competitiveness of its existing businesses and secure new growth engines.

CEO Ahn has accumulated approximately 37 years of experience in the financial investment industry and has served as an outside director at Meritz Asset Management, a management advisor at SM HiPlus, and CEO of SM Heavy Industries. The company plans to stabilize management and restructure its business portfolio based on CEO Ahn’s experience in the financial and manufacturing sectors.

In its existing paper business, the company is expanding its product lineup with a focus on specialty industrial papers. Key targets include semiconductor carrier paper, SteelGuard paper for steel surface protection, and paper-based packaging materials.

Semiconductor carrier paper is an industrial material used to package and transport small components during the manufacturing and assembly of electronic components; it is a field where the company can leverage its thin-sheet paper manufacturing technology. Steel Guard paper is a product designed to prevent surface damage and contamination during the processing and transportation of stainless steel, aluminum, and hot-rolled and cold-rolled steel sheets.

SM Kukil plans to expand the applications of its specialty paper products while identifying new high-value-added business opportunities and M&A prospects, taking into account growth potential and synergies with existing businesses. Through these efforts, the company aims to diversify its revenue structure, which is currently concentrated in the paper business.

Ahn Jang-soon, the newly appointed CEO of SM Kukil, stated, “Taking this name change and the appointment of a new CEO as an opportunity, we will establish a new corporate identity as an SM Group affiliate and begin full-scale implementation of our mid- to long-term growth strategy.” He added, “While continuously strengthening the competitiveness of our existing specialty paper business, we will actively seek out new business ventures and M&A opportunities that can create synergies with our existing operations, leveraging the Group’s network and diverse business experience, to simultaneously enhance our revenue structure and corporate value.”