HLB Innovation Appoints Kim Hong-cheol as New CEO

HLB Group recently announced on the 13th that HLB Innovation (formerly PSMC), which it recently acquired, has appointed Dr. Kim Hong-cheol as CEO.

CEO Kim Hong-cheol holds a Ph.D. in Business Administration from Soongsil University. He managed finance for many years at Daesung Group. In 2000, he joined the KOSDAQ Association as head of the planning team and served as acting executive vice chairman. After joining HLB Group, he led the ESG team and external cooperation team, focusing on internalizing ESG management and promoting the group.

HLB Innovation plans to strengthen its existing core business in semiconductor lead frame manufacturing and foster its automotive semiconductor business. It will newly establish a bio business division. The company aims to nurture new growth engines by enhancing personnel exchanges and technological cooperation with Verismo Therapeutics, which is developing next-generation CAR-T anticancer drugs (KIR-CAR). Following this policy, Verismo’s COO Lee Byung-geol and research analyst Jin In-hye have been appointed as inside directors of HLB Innovation. Brian Kim, CEO of Verismo, will oversee HLB Innovation’s bio business.

HLB decided that its affiliates will jointly share the costs and profits necessary to expand the new drug pipeline. The funded company will finalize the pipeline and then develop the corresponding new drug. HLB Innovation will soon disclose its plans for the new drug pipeline.

A company official stated, "Dr. Kim Hong-cheol has provided consulting and operational support for many years to KOSDAQ member companies engaged in various businesses such as manufacturing and bio." He added, "He is the talent needed for HLB Innovation, which is at a crossroads of change." He further said, "Under new leadership, HLB Innovation will strive to stabilize new businesses early and create greater corporate value."