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[Alpha Biz= Reporter Kim Jisun] Hanmi Science, the holding company of Hanmi Pharmaceutical Group, has filed charges of embezzlement and breach of trust against Hanmi Pharmaceutical CEO Park Jae-hyun and three other executives, as well as Kang Nam-kyu, CEO of private equity firm La Défense Partners. The allegations, disclosed on November 18, involve several accusations of financial misconduct.

Key Allegations
Hanmi Science has stated that the accused individuals are responsible for:

-Misappropriating company funds through questionable transactions,
-Exploiting insider information for personal gain, and
-Engaging in unnecessary lease agreements leading to fund misallocation.
Hanmi Pharmaceutical’s Response
 

In response, Hanmi Pharmaceutical has rejected these allegations, accusing the opposing faction in the company's ongoing governance battle of abusing their power to eliminate rivals. "We can address every single allegation in detail, but we prefer to resolve this through legal procedures rather than public disputes," the company said.
 

This legal move is part of an escalating power struggle within Hanmi Pharmaceutical Group, following the death of founder Im Sung-ki. The conflict has split the group into two factions:

Chairwoman Song Young-sook and her daughter, President Im Ju-hyun, supported by Shin Dong-kook, chairman of Hanyang Precision,
 

Brothers Im Jong-yoon and Im Jong-hoon, who hold leadership roles at Hanmi Science.
The Song-Im faction controls 48.13% of the voting rights, while the brothers hold 27.09%. However, the brothers’ faction has a majority on the Hanmi Science board, holding five out of nine seats. 

 

On November 15, Hanmi Science filed a complaint against Chairwoman Song, President Im, and Shin Dong-kook for obstruction of business operations.
 

On November 13, Im Jong-yoon, a director at Hanmi Science, filed a breach of trust complaint against Chairwoman Song and CEO Park. 

 

The ongoing governance struggle is expected to reach a critical point at the extraordinary shareholders’ meeting on November 28, where the factions will vote on key resolutions:

Expanding the board of directors from nine to eleven members,

 

Appointing new directors Shin Dong-kook and President Im Ju-hyun.

The results of this meeting could significantly influence the future direction of Hanmi Pharmaceutical Group.

 

 

 

 

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