Daewoong Pharmaceutical Appoints Park Seong-su as New CEO

Daewoong Pharmaceutical has initiated a leadership change in its global business and research & development (R&D) sectors.

Park Seong-su, the new CEO of Daewoong Pharmaceutical
Photo by Daewoong Pharmaceutical

On the 28th, Daewoong Pharmaceutical held a board meeting and announced on the 29th that it had approved the appointment of Park Seong-su as the new CEO. CEO Park will lead Daewoong Pharmaceutical alongside CEO Lee Chang-jae in a dual CEO system. Park will oversee global business and R&D, while Lee will manage domestic business and marketing.

CEO Park graduated from the Department of Pharmaceutical Sciences at Seoul National University and earned a master's degree in medicinal chemistry from the same university's graduate school. He joined Daewoong Pharmaceutical in 1999. Since then, he has held key roles across development, approval, marketing, and global business, creating numerous new business opportunities. From 2011, he served as the head of Daewoong America in the United States, returning to Korea in 2015 to lead the Nabota Business Division. After being promoted to vice president in 2021, he has overseen the Nabota Division, Global Business Division, Bio R&D Division, and Legal Office. Notably, his appointment as CEO is recognized as a result of his leadership in securing FDA approval for Nabota in the U.S. and successfully expanding into 70 countries worldwide, achieving more than a 20-fold growth in performance during his tenure.

Upon taking office, CEO Park presented a vision to "open the era of 1 trillion won in operating profit." He plans to restructure the company’s foundation into a high-profit, global-centric model by maximizing new business, global expansion, and research outcomes in new drugs, formulations, and bio sectors. Additionally, he outlined visions including ▲ nurturing a blockbuster new drug worth 1 trillion won per product ▲ becoming a specialized new drug development company ▲ achieving a corporate value of 20 trillion won for Daewoong Pharmaceutical.

Meanwhile, at the regular shareholders' meeting held prior to the board meeting on the 28th, CEO Lee Chang-jae was reappointed as an inside director, and Park Eun-kyung, head of the ETC Marketing Division, was newly appointed as an inside director. Born in 1983, Park Eun-kyung was selected as a female inside director in her 40s.