Humasis Completes Change of Largest Shareholder to Artist Cosmetic

Advance Payment of Remaining Balance

[Asia Economy Reporter Myung-Hwan Lee] Artist Cosmetic has completed the acquisition of Humasis two weeks ahead of schedule.

The Humasis COVID-19 self-test diagnostic kit, 'Humasis COVID-19 Home Test,' is being sold at a pharmacy in downtown Seoul on the 3rd. The self-test kit works by dropping a specimen collected directly from the nasal cavity (nasal swab) onto the kit to check for positive or negative results. Infection status can be visually confirmed within 15 to 30 minutes. If two red lines (control line C and test line T) appear on the kit, the result is positive. In this case, you must visit a screening clinic operated by the quarantine authorities to undergo the conventional test method, the polymerase chain reaction (PCR) test. Photo by Moon Honam munonam@

Humasis announced on the 10th that its largest shareholder has changed from CEO Cha Jeong-hak to Artist Cosmetic. Artist Cosmetic made an early payment of the remaining balance for the stock transfer agreement signed with CEO Cha Jeong-hak and three others on the 9th.

This payment was made approximately two weeks earlier than the originally scheduled date of the 28th.

Namgung Gyeon, Chairman of Artist Cosmetic, said, "We paid the remaining balance ahead of schedule to accelerate the promotion of new businesses and to respond promptly to lawsuits with Celltrion. At the extraordinary shareholders' meeting to be held on the 28th, Kim Seong-gon, who will be appointed as the management controller representing the board of directors, will be appointed, so there will be no gap in management."

On the 9th, Humasis appointed Kim Seong-gon, CEO of Incon, as the management controller. Kim said, "In preparation for the contraction of the COVID-19 related market, we will strengthen the diagnostic kit business for pregnancy, dengue, malaria, influenza, and promote new businesses."

Humasis plans to continue expanding its existing diagnostic kit business. It is expanding product sales targeting the Middle East and Africa regions, including diabetes clinics and high-sensitivity malaria tests. In addition, it is preparing for domestic and international approval of a 'combo kit' that can quickly diagnose two or more diseases simultaneously.