Compensation System Revamp to Attract Top Talent
Hanmi Group is set to revamp its compensation system to attract top global talent.
On August 1, Hanmi Science, the holding company of Hanmi Group, and its core business unit Hanmi Pharmaceutical announced the introduction of an employee 'stock-based performance compensation system.' This system is designed to instill a genuine sense of ownership among employees and to strengthen motivation to achieve the company's mid- to long-term goals.
This initiative is a strategic decision aimed at recruiting highly competitive talent and establishing a performance-based compensation system at a global level. Through this, the company intends to provide stronger motivation to employees and further solidify a performance-oriented organizational culture.
The new stock-based compensation system will be operated in two main forms: RSA (Restricted Stock Award) and RSU (Restricted Stock Unit).
The RSA allows employees to receive their existing PI (Performance Incentive) in the form of company stock. Depending on the results of semi-annual evaluations, employees can choose to receive 50% to 100% of their PI amount in company stock. Any potential losses from a decline in stock price during this process will be separately compensated by the company to reduce the burden on employees.
The RSU is a reward for contributions to the company's long-term value growth. In cases where significant achievements are made?such as substantial increases in sales or profits, new drug approvals, or technology exports that have a major impact on corporate value?employees who contributed will be granted company stock equivalent to up to 100% of their annual salary, with the amount varying based on individual contributions.
This system will apply to employees of major affiliates, including Hanmi Science, Hanmi Pharmaceutical, the healthcare distribution subsidiary Onlinepharm, and the API (Active Pharmaceutical Ingredient) specialist Hanmi Fine Chemical, who are employed at the time of implementation. Major shareholders will be excluded from eligibility.
Hanmi expects that, through this compensation system, the company and its employees will be able to focus on shared goals and share in the results, thereby establishing a foundation for sustainable growth. The system will be finalized after the detailed operational plan is confirmed and approved by the board of directors.
Kim Jaekyo, CEO of Hanmi Science, stated, "In the increasingly competitive global pharmaceutical and biotech industries, a performance-based compensation system is essential for securing future competitiveness. Through this new system, we aim to attract outstanding global talent and foster a culture where all employees have a sense of ownership and grow together, thereby realizing sustainable corporate value."
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