Hanmi Lim Jong-hoon "Pursuing Growth Through Distribution Business and Mergers & Acquisitions"

Lim Jong-hoon, the 'second-generation owner' who became the sole CEO of HanmiScience, unveiled a growth strategy focused on strengthening distribution business, pursuing mergers and acquisitions (M&A), and introducing artificial intelligence (AI).

Lim Jong-hoon, CEO of Hanmi Science
Photo by Yonhap News

On the 21st, CEO Lim delivered a growth strategy message titled "Let's Collaborate to Create a Better Future Together" to employees through the company’s internal network. After becoming an inside director of HanmiScience at the regular shareholders' meeting held in March, Lim was appointed co-CEO alongside his mother, Song Young-sook, Chairwoman of Hanmi Pharm Group, at the board meeting held the following month. However, at the board meeting on the 14th, HanmiScience dismissed Chairwoman Song from her CEO position and launched a sole CEO system with Lim Jong-hoon as the only CEO. The company explained through a public disclosure that "the change to a sole CEO system was made to improve management efficiency." Immediately after the board meeting, CEO Lim emphasized speedy management by stating, "We need to accelerate the company’s development."

The growth strategy message, released for the first time since the sole CEO system was established, seemed to acknowledge the recent controversy by starting with, "Putting behind the various changes HanmiScience has experienced over the past year, I will explain the growth strategy we need to focus on for the future." CEO Lim continued, "Hanmi has played an important role as a key player in the pharmaceutical industry," and emphasized, "HanmiScience is now at a time to unleash its potential to achieve greater results."

The first priority CEO Lim presented was the growth of the distribution business, led by Online Pharm, a pharmaceutical distribution specialist subsidiary. He stressed, "We plan to accelerate the growth of the distribution business centered on Online Pharm," adding, "It will play a crucial role in expanding consumer touchpoints and increasing product accessibility." He also mentioned bold M&A activities. CEO Lim pointed out the necessity by saying, "M&A will be an important means to diversify the company’s business portfolio and secure the resources and technologies needed to enter new markets." Internally, he said the company will actively introduce external consulting and promote rapid decision-making and work efficiency through the application of AI technology.