Huons Group Chairman Yoon Sung-tae Returns to Frontline Management

On the morning of the 28th, Huons Global's regular shareholders' meeting was held at the Huons Global headquarters in Pangyo, Seongnam. Photo by Huons Group

Yoon Sung-tae, Chairman of Huons Group, is returning to the forefront of management to lead Huons Group’s major leap forward as it celebrates its 60th anniversary this year.

Huons Global Co., Ltd., the holding company of Huons Group, held its regular shareholders' meeting (38th term) and board of directors meeting on the 28th at its office in Pangyo, Seongnam, Gyeonggi Province. At the Huons Global shareholders' meeting, all agenda items were approved as proposed, including ▲approval of financial statements and dividends (cash dividend of 250 KRW per share) ▲amendment of articles of incorporation ▲reduction of capital reserve ▲appointment of internal director Song Soo-young ▲appointment of outside director Han Seung-beom ▲appointment of outside director Lee Kyu-yeon as audit committee member ▲appointment of Han Seung-beom as audit committee member ▲approval of director remuneration limits.

Subsequently, at the Huons Global board meeting, the appointment of Chairman Yoon Sung-tae as CEO was approved. With this, Huons Global established a dual CEO system with Yoon Sung-tae and Song Soo-young as co-CEOs. Chairman Yoon resigned as CEO of Huons Global in 2022 and stepped down from frontline management, but after three years, he has returned as the CEO of the group’s holding company to lead the future business of the entire group. In particular, he plans to focus on overcoming the economic crisis, nurturing the group’s future core growth engines, expanding into global markets, and securing competitive new drug candidates (pipelines) to accelerate the group’s major leap forward.

Yoon Sung-tae, Chairman of Huons Group, said, "In a situation where domestic and international economic uncertainties continue, this year marks an important moment for Huons Group, which is celebrating its 60th anniversary, to take a further leap forward. We will focus on key tasks for sustainable future growth, such as expanding global markets and securing new growth engines through research and development."

Huons Global has established an active shareholder return policy to enhance shareholder value. In 2023, it announced and is implementing a mid- to long-term dividend policy to increase dividends per share by 0% to 30% compared to the previous fiscal year over three years (2023?2025), and to pay dividends twice a year through interim and year-end dividends.

Huons Global achieved its highest-ever performance last year. Based on consolidated financial statements for 2024, it recorded sales of 813.5 billion KRW and operating profit of 97 billion KRW, representing increases of 7.3% and a decrease of 14.9%, respectively, compared to the previous year.

A Huons Group official stated, "Over the past 60 years, Huons Group has laid the foundation for growth through the united efforts of its executives and employees, supported by our shareholders. Huons Global will do its utmost to present the vision of Huons Group and enhance company value through business area and portfolio diversification."

He added, "We will continue to strive to create sustainable value through strengthening business competitiveness, shareholder-friendly management, and social responsibility management."

Meanwhile, Huons Group owns five KOSDAQ-listed companies including the holding company Huons Global Co., Ltd., Huons Co., Ltd., Humedix Co., Ltd., HuM&C Co., Ltd., and PanGen Co., Ltd., as well as nine subsidiaries and affiliates. PanGen, a biopharmaceutical specialist company, was incorporated into the Huons group in December last year.