First-Year Accountant with a Pharmacy Background Says, "I'm Done with Professional Exams... Will Showcase Synergy Between Pharmacy and Accounting"

"CPA Exam Was a Better Fit for Me Than the Pharmacist Licensing Exam"
Enduring the Accountant "Busy Season"... Drawing My Own Blueprint

"The work accountants do is extremely value-added. I thought I could become a more useful person in the pharmaceutical and bio industry."

Jiwon Park, a first-year accountant at age 30, explained in a recent interview with Asia Economy why he changed his career path from pharmacist to accountant. After graduating from the College of Pharmacy at Seoul National University, he obtained his pharmacist license in 2021, then prepared for the Certified Public Accountant (CPA) exam and passed the final stage in 2023. Earlier this year, after completing his military service, he joined Samil PwC and is now developing his expertise as an accountant in the pharmaceutical and bio sector.

Jiwon Park, Accountant at Samil PwC. Samil PwC

"CPA exam suited me better than the pharmacist licensing exam"

Park first aspired to become an accountant during his final year in pharmacy school. While participating in a joint marketing society for pharmacy students, he steadily deepened his understanding of the pharmaceutical and bio industry. Encountering cases such as pharmaceutical company IPOs and license-outs (the sale of intellectual property rights such as technology, products, patents, and know-how to other companies), he became interested in the field of accounting. Park said, "I thought accounting professionals would be highly valued in the pharmaceutical and bio industry. I also happened to have friends studying investment and accounting, which encouraged me to take on the CPA exam." He added, "At first, people around me were surprised, but since I had already changed majors during my undergraduate years and had been involved in various activities outside of academics, they encouraged me to give it a try."

As someone without a background in business or accounting, it took him some time to become familiar with the terminology. However, he found that the CPA exam, which emphasizes logical understanding, suited him better than the pharmacist licensing exam, which is mainly focused on memorization. It took him one year to pass the first stage of the exam and a year and a half to pass the second stage. Notably, he passed four out of five subjects in the first attempt at the second stage, which allowed him to prepare for the remaining subject while also working at a pharmacy. Park said, "I made sure to fully understand and organize the material before memorizing it. Finding your own study method is important."

Enduring the accountant "busy season"... Drawing my own blueprint"

Park Jiwon, an accountant at Samil PwC, is being interviewed by Asia Economy. Samil PwC

He is currently making the most of his strengths as a member of the bio-specialized team within the Consumer Markets (CM) division at Samil PwC. He mainly handles audits for pharmaceutical companies and bio venture firms, and his deep understanding of the industry allows him to communicate effectively with company representatives. Park said, "Being familiar with technical terms and understanding business processes, such as which diseases a particular drug is intended to treat, is a great advantage. In addition to the theories I learned as an undergraduate, gaining insight into the business structures of various pharmaceutical and bio companies as an auditor is a rare and valuable experience."

He also finds it interesting to compare his experiences as a pharmacist and as an accountant. The frequent night shifts he worked as a pharmacist helped him endure the intense workload of the notorious "busy season" in the accounting industry. Another advantage is being able to visit multiple companies and experience diverse environments, rather than being tied to a single location. On the other hand, he now faces more challenges. He said, "When the desired result doesn't come out, I have to go through all the data from the beginning to figure out whether the error is on the company's side or mine. It requires a lot of mental effort."

In this process, he benefits from Samil PwC's systematic systems and excellent talent pool. Park said, "I am learning how to identify accounting issues and perform high-quality work from leading partners and senior colleagues in the pharmaceutical and bio sector. Although overcoming difficulties is tough, I feel a great sense of fulfillment as I grow and gain new experiences alongside passionate colleagues."

Park does not plan to take any other professional qualification exams. In the future, he aims to further strengthen his identity as an accountant in the pharmaceutical and bio field. To this end, he reads in-depth articles and books related to pharmaceuticals and biotechnology whenever possible. He also plans to build expertise in drug development and clinical trials, and to continue studying English. Since the pharmaceutical and bio sector is a global industry and regulatory approval from advanced countries is crucial, it is important to stay up to date with international developments. He said, "For now, I will focus on learning the basics thoroughly as a junior accountant. Once I become more accustomed to the work, I hope to create my own blueprint by leveraging the synergy between pharmacy and accounting in the pharmaceutical and bio field."