'Individual Largest Shareholder' Shin Dong-guk Chairman as Non-Executive Director
'Digital Healthcare Expert' Nam Byung-ho CEO as Outside Director
Lim Jong-yoon and Jong-hoon brothers, along with Shin Dong-guk, chairman of Hanyang Precision, will join the board of directors of Hanmi Pharmaceutical. Nam Byung-ho, CEO of Herings and a digital healthcare expert, will also join the board.
Jong-yoon Lim, Director of Hanmi Science (left), and Jong-hoon Lim, CEO of Hanmi Science, are shaking hands at a press conference held after the regular shareholders' meeting in March. [Photo by Chunhee Lee]
Hanmi Pharmaceutical announced on the 8th that it held a board meeting and decided to convene an extraordinary general meeting of shareholders on the 18th of next month at Hanmi Tower in Songpa-gu, Seoul, to vote on these agenda items.
In the recent management rights dispute, the owner family who won includes the eldest son Lim Jong-yoon, director of Hanmi Science, and the second son Lim Jong-hoon, CEO of Hanmi Science, who will enter the board as inside directors. If Lim Jong-yoon is appointed as an inside director at this extraordinary general meeting, he is expected to be inaugurated as the CEO of Hanmi Pharmaceutical at the board meeting held immediately afterward. Previously, the brothers proposed a 'responsible management' model during the management rights dispute, where the eldest son leads Hanmi Pharmaceutical and the second son leads Hanmi Science. Through this, following the shareholders' meeting of the group holding company Hanmi Science held in March, where the brothers including Lim Jong-yoon and Jong-hoon and their faction took control of the holding company's board, they are expected to directly lead the board of the core operating company Hanmi Pharmaceutical as well.
Additionally, Shin Dong-guk, CEO of Hanyang Precision, who is the largest individual shareholder and greatly contributed to the victory by siding with the brothers in the management rights dispute, will be appointed as a non-executive director. An agenda item to appoint Nam Byung-ho, CEO of Herings, as an outside director was also included.
The new face, CEO Nam Byung-ho, leads Herings, a digital healthcare company developing digital therapeutics (DTx). He is a health statistician turned entrepreneur who has served as a professor at Boston University in the U.S. and at the Graduate School of International Cancer Studies at the National Cancer Center. In 2021, he received a 4 billion KRW investment from Kori Group, an affiliate of Hanmi Pharmaceutical Group led by CEO Lim Jong-yoon, and recently, he has been involved as a committee member of the industrial development division in the Future Medical Innovation Research Association, co-chaired by Lim Jong-yoon. This connection appears to have led to his joining the board. CEO Nam is expected to strengthen the development of Hanmi Pharmaceutical’s digital healthcare business.
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