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Hanmi Family's Management Dispute Involves Subsidiary CEOs, Casting Uncertainty Over Group's Future

Business / Kim Jisun / 11/05/2024 01:26 AM

(Photo= Yonhap news)

[Alpha Biz= Reporter Kim Jisun] The management dispute within the Hanmi Pharmaceutical Group has expanded from the founder's family to key executives.


On the 4th, Hanmi Science announced that representatives from subsidiaries, excluding Hanmi Pharmaceutical, issued a joint statement criticizing Hanmi Pharmaceutical’s declaration of independent management made last August. This group statement included names such as Im Hae-ryong, General Manager of Beijing Hanmi Pharmaceutical; Jang Young-gil, CEO of Hanmi Fine Chemical; Woo Ki-seok, CEO of Online Pharm; Lee Dong-hwan, CEO of JVM; and Park Jun-seok, Vice President of Hanmi Science’s Healthcare Division.

The executives argued, “Interference by external forces in the inheritance tax issue, which should be managed by the major shareholders, is undermining unity within the family and impacting Hanmi Group as a whole. A simple shareholder, with no contribution or understanding of the global pharmaceutical and biotech industry, is improperly advising for personal stock gains." They further insisted, "For the unity of Hanmi Group, external forces should stay out. Those who exploit family disputes and attempt to create divisions and alliances are not needed in Hanmi."

This statement indirectly targeted Shin Dong-guk, Chairman of Hanyang Precision, who, along with Song Young-sook, Hanmi Group Chairwoman and wife of the founder, and their daughter Lim Joo-hyun, Vice Chairwoman, has formed an alliance seen as external interference by other family members.

In response, Hanmi Pharmaceutical expressed regret and criticized founder sons Lim Jong-yoon and Lim Jong-hoon for involving senior executives in the management dispute.

 

 

 

 

AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)

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