[Alpha Biz=(Chicago) Reporter Paul Lee] Hanwha CEO Oh Dong-wook will implement a voluntary retirement program to reduce manpower, with sales in half last year.
According to the Financial Supervisory Service's electronic disclosure system on the 12th, Pfizer Korea recorded sales of about 1.6,017 trillion won last year, down 50.3% from a year earlier.
Due to sluggish sales of COVID-19 products, operating profit and net profit also fell 46.9% and 28.9% on-year to 63.8 billion won and 84.9 billion won, respectively. This is due to a slowdown in sales of items such as Cominati, a COVID-19 vaccine, and Paxrobide, a COVID-19 treatment.
Pfizer Korea has begun business restructuring and manpower restructuring since last month. Under the leadership of the U.S. headquarters, the company has launched a personnel reshuffle focusing on marketing and sales.
More than 80,000 Pfizer executives and employees around the world, including South Korea, are subject to the restructuring. Meanwhile, attention is focusing on whether Oh Dong-wook, president of Pfizer Korea, who has been in office for more than eight years since he was appointed in 2016, will serve a second term.
Pfizer Korea explained that there is no fixed term for President Oh Dong-wook.
Meanwhile, Pfizer Korea has carried out a large-scale voluntary retirement for long-term workers since July that year, even though it enjoyed a boom of more than 3 trillion won in annual sales during the COVID-19 pandemic last year.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
