LabGenomics Appoints Kim Jeongju and Lee Jonghun as New Co-CEOs

LabGenomics CI
Photo by LabGenomics

[Asia Economy Reporter Chunhee Lee] LabGenomics, a molecular diagnostics specialist company, announced on the 1st that it has appointed the executives of its new largest shareholder, Luha Private Equity (Luha PE), as the new management team and plans to officially appoint them through an extraordinary general meeting of shareholders on the 10th of next month.

At this extraordinary general meeting, resolutions will be made regarding the addition of business objectives and changes in the number of directors. The business objectives will include new purposes such as the U.S. CLIA Lab business, O2O service industry, leasing and sales of intangible assets for research and development, and pet diagnostics.

Additionally, Kim Jeongju, Vice President of Thermo Fisher Scientific Korea, and Lee Jonghun, CEO of Luha PE, have been appointed as new co-CEOs to operate under a joint representative system. CEO-designate Kim has over 25 years of experience in the diagnostics industry, having worked at Roche Diagnostics and Thermo Fisher Scientific. He is recognized as a key figure who led Thermo Fisher Scientific, the global number one diagnostics specialist, into the East Asian market.

CEO-designate Lee graduated from Chung-Ang University College of Pharmacy and worked as a pharmaceutical and bio analyst at Mirae Asset Securities. Later, at SV Investment, he served as a specialized reviewer in the bio healthcare sector, forming multiple specialized funds and investing in diagnostic companies. He has held investment and outside director roles at PeopleBio, Bridge Biotherapeutics, and Biodine, and currently serves as an outside director at Boryung.

LabGenomics is also focusing on internal organizational restructuring, recruiting personnel with experience at Samsung Electronics, KPMG, and Seegene as the Vice President in charge of overseas business. Certified Public Accountant Oh Sejin, who worked as a Luha PE operator, has been recruited as CFO. For outside directors and auditors, they have appointed Jang Jaehyung, Deputy Head of Law Firm Yulchon, Kim Yuchan, Professor at Sungkyunkwan University College of Biotechnology, and Kim Gyuyoung, CEO of Diomedical.

A LabGenomics official stated, "This new recruitment aligns with Luha PE’s strategy to enter the U.S. market, and since we have brought in personnel specialized in enhancing corporate value, we expect improvements in corporate value going forward." He added, "Except for founder CEO Jin Seunghyun, the existing executives will remain with the company to support new business initiatives."

After completing the appointment process of the new management team through the extraordinary general meeting, LabGenomics plans to actively pursue the acquisition of the U.S. CLIA Lab. The company also intends to solidify its position in the domestic genetic diagnostics market and focus on showcasing its technological capabilities in the U.S. market. CEO-designate Lee said, "Through the U.S. CLIA Lab, we will create opportunities for the advancement of LabGenomics as well as Korean biotech and diagnostics companies."