Central Insight Hires New Executives to Accelerate Bio New Business...

[Asia Economy Reporter Hyunseok Yoo] Central Insight, which successfully secured large-scale funding, is expected to gain momentum in new businesses by recruiting new management specializing in bio.

Central Insight announced on the 28th that it held an extraordinary general meeting of shareholders on the 27th and recruited a large number of new executives, including CEO Eom Sang-jin.

Newly appointed CEO Eom Sang-jin is the CEO of Ash7, currently the largest shareholder of Central Insight, and is a cosmeceutical expert. Ash7, established in July 2014, is a company that sells peptide-based specialty raw material cosmetics. As of the end of 2019, it recorded sales of 16.8 billion KRW. Ash7’s executives and employees will also participate as members of Central Insight’s board of directors, which is expected to accelerate Central Insight’s cosmeceutical and bio new business.

Also, Zhang Zihui, appointed as an advisor, will be recruited as the head of the new business division to proceed with vaccine clinical contract research organization (CRO) and contract manufacturing organization (CMO) businesses. Zhang Zihui currently serves as the deputy director of the Korea-China Free Trade Agreement (FTA) Private Commerce Promotion Committee and vice president of the Korea Hangno-Wa Bio Small and Medium Business Association. He is known as the right person to serve as a bridge between Korea and China regarding the bio business that Central Insight will promote in the future.

At this general meeting, Central Insight also completed amendments to the articles of incorporation to add new business purposes such as pharmaceutical development and production, along with the appointment of new board members.

A company official explained, “Led by CEO Eom Sang-jin, who has excellent management capabilities in the peptide-based cosmetics market, we expect to maximize sales through not only the existing specialty cosmetics business but also the promotion of new bio businesses. Additionally, the newly appointed board members are core competencies for promoting business diversification such as cosmeceuticals and bio.”

He added, “Based on the rich experience and know-how of experts in various bio fields, Central Insight will transform into a bio-specialized company including cosmeceuticals.”