Board of Directors
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Board of Directors
Lim Sung Pil
Lim Sung Pil
Serving as the President Commissioner of the company since 2022, an Indonesian citizen, 49 years old. Completed education at Suwondi University in South Korea in 1991.
Work Experience:
2005 – present: Chief Executive Officer at PT LSP Indonesia.
1999 – 2000: Marketing Manager at PT Citra Ripen.
Kim Seok Jin
Kim Seok Jin
Serving as the President Commissioner of the company since 2022, an Indonesian citizen, 63 years old. Completed education in the field of Public Administration at Kyung Book University, South Korea.
Work Experience:
1999 – present: Chief Executive Officer at PT Kotek Indah.
1982 – 1995: Finance Director at PT Samcro Hyosung Adilestari.
Chung Tae Sung
Chung Tae Sung
Serving as the Chief Executive Officer of the company since 2017. A South Korean citizen, 54 years old. Completed education at Southern Oregon University, United States, majoring in Bachelor of Art in Business in 1994, and at the University of Denver, Colorado, United States, majoring in Master of Marketing in Business Administration in 1996.
Work Experience:
1996 – 1998: Project manager in the USA.
1998 – present: Chief Executive Officer at PT. Samcro Hyosung Adilestari.
Suwardi B Pardi
Suwardi B Pardi
Serving as Director of the company since 2022. Indonesian citizen, 32 years old. Completed education at Subang University, West Java.
Work experience:
2022 – present: Company Director.
2014 – 2022: Marketing Manager at the Company.
2013 – 2014: Purchasing Manager at PT Shin Woon Chemical Co., Ltd
2009 – 2013: Purchase of Manger at PT Alaska Inti Cemerlang
2000 – 2008: Purchasing Manager at PT Dong Joe Indonesia
Cahya Wulandari
Cahya Wulandari
Serving as a Director of the company since 2022. An Indonesian citizen, 32 years old. Completed education at Pasundan University in Bandung.
Work Experience:
2013 – present: Tax Manager Consultant, Partner at Cahya Irwandy Law Firm.
Milestone
1989
Establishment
According to the deed of establishment, the capital structure and shareholder composition are as follows:
Authorized capital: Rp 702,400,000 (seven hundred and two million four hundred thousand rupiah), divided into 400 (four hundred) shares, with each share valued at Rp 1,756,000 (one million seven hundred fifty-six thousand rupiah).
Issued and paid-up capital: Rp 702,400,000 (seven hundred and two million four hundred thousand rupiah), divided into 400 (four hundred) shares, with each share valued at Rp 1,756,000 (one million seven hundred fifty-six thousand rupiah).
1990
Production
The construction of the factory has been completed, and it has commenced operations with machines, most of which were imported from South Korea and Germany.
With a total of 50 knitting machines, the factory is capable of producing approximately 300,000 meters of hook and loop in the first year.
Many footwear, glove, and toy manufacturing companies have made purchases from the company to reduce import costs for their products while also expediting the product delivery period.
1994
Taking Over a Partnership Company and Adding Two Product Lines
After taking over the partnership in 1994, the company added two product lines, namely hook & loop fasteners, webbing tapes, jacquards, and shoelaces.
1995
The Initial Export of Hook & Loop and Webbing Tape Products
Export growth began as there was a significant increase in demand for the products, especially from Italy, Europe, America, and South Korea. Export sales contributed 50% of the total sales, while the remaining 50% came from the domestic market. Revenue from exports increased by 35% in the following year.
1997 & 1998
Year of Survival
The unforeseen circumstances that were unavoidable occurred when a monetary crisis hit almost every country, including Indonesia. However, this crisis provided an opportunity for the company to enhance its competitiveness through favorable foreign exchange rates, resulting in increased demand from the United States and European Union.
The company actively worked 24 hours a day, seven days a week, without reducing intensity and speed of work. The company also underwent restructuring in various aspects under the guidance of a new management team. The changes and efforts made during the crisis helped expand the company’s market share overseas and targeted segmentation not only in the industrial sector but also geographically. This period positioned the company to compete with hook & loop manufacturers from China who offered lower prices in the 2000s.
2001
The New Chief Executive Officer (CEO)
The company began to show systematic and efficient changes after the appointment of a new CEO with an academic background in Bachelor of Business program from Oregon and a postgraduate program in Marketing from Colorado. The CEO also has previous work experience in the United States.
The inauguration marked the beginning of improving production process efficiency and the dissolution of expensive and inefficient foreign labor, which had been a challenging problem to address. With the issues of employee financing system and lack of marketing strategy, Mr. Chung Tae Sung was appointed as a shareholder and entrusted to lead the company, aiming to become a key player in the industry.
2002
In 2002, the company achieved recognition for quality and obtained ISO/CS A 9001:2001/ISO 9001:2000 certification. With the ISO certification, the company also acquired other quality standards such as ASTM, Satra, Bs, and FAA standards.
2003
Product Development
The integration of China into the WTO had a significant impact on all aspects of business and industry, both domestically and internationally. If China offers cheap products, the company will utilize all its assets and focus on the local market, which contributes less than 30% of the gross revenue. However, if China offers hook & loop prices that are 80% cheaper, the offerings from Chinese companies to foreign consumers will not be sustainable and will pose a threat without competitiveness.
2004
Product Development
Two new products, namely Free Magic and Molded Hook, have been developed and produced for both the domestic and export markets. Over the next 10 years, these two products contribute significantly to sales and profitability.
2008
The Introduction of New Machines and The Expansion of Production Capacity for The New Products
The company added and installed 50 new weaving machines worth over USD 1,000,000 from Taiwan and Germany. The measuring, cutting, and coating machines were also improved and renovated. As a result, the production capacity of hook & loop reached over 1 million meters per month.
2009
Obtaining OEKO-TEX Standard 100 Certification
The company obtained a significant certification for businesses operating in the garment industry.
2012
Product Development in Collaboration with Seoul University in South Korea
Collaboration and product development of hook & loop with an air transportation assembly company at Seoul National University took place for one year, with plans for continued collaboration in the following year. However, the cooperation had to be halted due to the unfortunate incident of the death of one of the project leaders involved in the development of film-type and silent hook & loop products. As a result, the company decided to postpone the patent application for these hook & loop variations.
2013
Paying Off The Loan of $750,000 Borrowed from Samboo Ltd
The company pays off the loan that has been secured by a majority of the shareholders of Samboo Ltd for over 15 years, aiming to eliminate dependence and burden on Samboo Ltd.
2014
Addition of Testing Machines
Perseroan melakukan pemasangan mesin uji dan analisis senilai USD450.000 yang diimpor dari Korea Selatan. Hal ini merupakan bagian dari investasi Perseroan demi meningkatkan mutu dan kualitas daripada proses pengelupasan dan pemotongan.
2017
The Release and Transfer of Ownership of Samboo Ltd in Korea To a Third Party
Samboo Ltd, which holds 99% ownership of the Company, is transferring all of the Company’s shares to a domestic entrepreneur, including the entire financial condition of the Company at that time, such as debts to suppliers.
2018
Hiring a Design Company for a Consumer Product Project in South Korea
The main objective of the Company in taking this step is to develop packaging design for coin-type hook & loop that can be carried anywhere and used conveniently, thereby reaching a wide range of needs.
2020
The Impact of The Covid-19 Pandemic on Businesses
All businesses in various countries are facing the unprecedented Covid-19 pandemic, which has led many entrepreneurs to close their businesses, including one of the company’s competitors, PT YKK. This has resulted in the loss of a major competitor for the Company, although the Company itself experienced a decline in sales for several months before recovering in the fourth quarter of 2020.
2021
Returning To Normal Business Operations and Embracing Opportunities
All businesses in various countries are facing an unprecedented Covid-19 pandemic, resulting in many entrepreneurs having to close their businesses, including one of the Company’s competitors, PT YKK. The Company is preparing to resume sales and marketing efforts that were postponed in 2020 by starting sales through e-commerce platforms such as Tokopedia, Shopee, Lazada, and Bukalapak. The Company has also implemented keyword advertising on Google search, which has proven to generate stable traffic to the Company’s website, samcro.co.id.
On the other hand, offline sales remain stable and unaffected by the online market. Digital platform-based sales play a crucial role for micro markets that require small quantities of hook & loop, making it more challenging to purchase. Through this update, the Company opens up possibilities for small quantity purchases with premium quality. Due to the small-scale purchases, the Company needs to set higher selling prices compared to sales to finished product manufacturers. However, this market represents a new opportunity that has not been penetrated by any other company before.
Consumers who initially purchased from suppliers to obtain hook & loop can now make direct purchases from the manufacturer thanks to active product sampling, quality inspections, and product customization based on needs during 2020 to 2021. The estimated increase in sales from new consumers could reach 35% of annual sales, compensating for the loss of the Company’s main competitor, despite the Company experiencing a decline in sales for several months before recovering in the fourth quarter of 2020.