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Samsung Everland
to change name to
Cheil Industries
Decision to be finalized at the general
shareholders’ meeting on July 4th,
will continue the legacy paved by Samsung
Decision to be finalized at the general shareholders’ meeting on July 4th, will continue the legacy paved by Samsung
 
- Will promote ambition to be a global fashion and service specialist
 
- 'Everland’ to be maintained as a theme park brand
 

Will announce new vision, ‘Cheil Industries, the Premium Lifestyle Innovator’

- Declaration ceremony to be held on July 4th to resolve ambition to be a global leading company
                                            
 
Samsung Everland has decided its new name will be Cheil Industries Inc. This will be officially confirmed at the upcoming general shareholders’ meeting on July 4th. Since the group launched its restructuring last year, Samsung Everland management has been urging a change of name, so it decided upon Cheil Industries Inc., which is seen in Korea as a part of the Samsung matrix, in an attempt to inherit the philosophy and legitimacy of Samsung.
 
However, for overseas offices, ‘Samsung Cheil’ will be used considering Samsung’s brand recognition value. Meanwhile, it has been decided to maintain ‘Everland,’ the existing theme park brand, as a brand for Samsung’s resort business regardless of the company name change.
 
The new name declaration ceremony will be held as a simple internal event during the morning of July 4th. Around 300 employees and officers including President Yoon Juhwa (fashion division) and President Kim Bongyung (resort and construction division) are scheduled to attend. At the ceremony, the company’s new vision, ‘Cheil Industries, the Premier Lifestyle Innovator’ will be announced.
 
The new vision reflects the characteristics of the company’s business interests. It expresses the company’s will to pursue more initiative and creative innovation to enrich the lifestyles of their customers.
 
Samsung Everland, which will change its name to Cheil Industries Inc., was originally founded as Donghwa Real Estate in 1963. The name has since been changed to Jungang Development (1967) and then Samsung Everland (1997). Last year, Samsung Everland took over Cheil Industries’ fashion division. Through the name change, Samsung Everland will continuously promote the fashion division’s advancement into a global top brand. As for the construction division, it will expand its specialized competencies in landscaping and energy facilities and thus develop itself into a global construction company. In addition, for the resort division, the Youngin complex development will be continuously promoted to improve competitiveness through expansion of new facilities including a hotel, an arboretum and a mixed-use commercial facility.