On November 18, Samsung C&T signed an agreement with Shandong Ruyi Group of China to further the bilateral cooperation for the next decade. Through the signing ceremony, the two companies celebrated the cooperative relationship of the past 10 years and expressed their commitment to maintain close ties for the next decade with a view to achieve mutual growth.
Chairman Qui Yafu, President Sun Weiying and General Manager Li Dongmei of Shandong Ruyi Group, Party Secretary Fu Ming Xian of Jining, Shandong Province as well as President Koh Jung Suk and executives and staff of Samsung C&T participated in the signing ceremony which proceeded in the order of introduction videos of the two companies, opening remarks by the two representatives and Party Secretary of Jining City, and the signing of the ‘Agreement on 10-year Cooperation’ for mutual development.
Shandong Ruyi Group is a global textile company that operates more than 6,000 shops in 81 countries worldwide. Recently, the group has positioned itself as one of the most influential global enterprises in the fashion industry by acquiring about 30 global fashion brands including Sandro, Maje, Claudie Pierlot, and Bally.
In his welcoming address, President Koh Jung Suk said he hopes “the signing of this agreement will take the partnership to new heights and help achieve win-win growth.”
With the signing of the Agreement on 10-year Cooperation, Samsung C&T will cooperate more closely with Shandong Ruyi Group and tap into the strengths of both companies to maximize synergy with the aim of discovering new areas of collaboration in various businesses including fashion, in addition to the raw cotton business currently under way.