Shin Dong-guk, Chairman of Hanyang Precision, Declares End to Hanmi Pharm Management Dispute

Shin Dong-guk, Chairman of Hanyang Precision.

Shin Dong-guk, chairman of Hanyang Precision and the largest individual shareholder of Hanmi Pharm Group, and Lim Jong-yoon, an inside director of Hanmi Science and the eldest son of the founder, have declared an end to the management dispute.

On the 10th, Director Lim's side stated, "The family dispute that lasted more than six months, centered around Shin Dong-guk, chairman of Hanyang Precision and the 'founder's close ally,' who is trusted by the founder Lim Sung-ki, his spouse, and children, has come to an end, and Hanmi Pharm Group has achieved both unity and stability."

Chairman Shin said, "The recent purchase of some shares held by the Hanmi Pharm mother and daughter (Song Young-sook and Lim Joo-hyun) was a magnanimous decision to protect Hanmi Pharm while helping to resolve inheritance tax issues."

Chairman Shin, who values loyalty to founder Lim Sung-ki, recently met several times with family members including former chairman Song Young-sook, prioritizing the prompt stabilization of Hanmi Pharm.

Thanks to Chairman Shin's mediation, who knows the growth process of the owner family and the company better than anyone, the three parties dramatically agreed to unite their efforts, establishing a balanced management group system and laying the foundation for stability and development.

Chairman Shin Dong-guk and Director Lim Jong-yoon said that moving beyond the past vertical roles of chairman and CEO, they will not spare investment in human resources necessary to add checks and transparency, speed, and rapid results to the value-up that all shareholders desire, utilizing the best talent pool experienced in committees and advisory groups of various professional managers.

Chairman Shin said, "I highly appreciate former chairman Song's magnanimous decision to step down from the front lines of management for the company's development," adding, "We are discussing ways to integrate responsible management, professional management, and ethical management in a hybrid form to leap forward as a global company with the two brothers."

Now, the single management group composed of Chairman Shin, the mother and daughter, and the brothers is expected to hold a majority stake of over 51%. This is an unusual figure among large conglomerates.

Meanwhile, Chairman Shin also drew a line against speculative interpretations such as forming alliances with specific major shareholders or re-competition of shares.

He emphasized, "None of the family members of former chairman Lim Sung-ki intend to sell Hanmi Pharm overseas," adding, "Selling overseas goes against the identity of Hanmi Pharm as a national pharmaceutical company, and we will firmly respond to the spread of false information."