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Biz News Korea(Eng)

Hyundai Pharm embarks on third-generation management

Collected: 2018.02.08

Distributed: 2018.02.09

Source: Go Direct

Lee Sang-joon

South Korea’s drug maker Hyundai Pharm Co. named Lee Sang-joon, grandson of Hyundai Pharm’s late founder Lee Kyu-suk and the eldest son of Chairman Lee Han-koo, the company’s co-chief executive officer, signaling the beginning of the era of the third-generation management.

The company announced on Tuesday that the younger Lee was promoted to co-manage the family-controlled company with President Kim Yeong-hak just about two months after he assumed the new role as president in December.

The new co-chief joined the firm in 2003 after finishing MBA course at San Diego University and became the registered member of the managing board in 2011.

Lee said in a statement that he will focus more on the development of new products and drugs that can be competitive in the global market. Hyundai Pharm’s most popular products are hair loss treatment Minoxidil and fiber drink Miero Fiber.

The pharmaceutical company announced its goals for this year at the shareholders’ meeting on Monday, which include achieving double-digit sales growth, zero defective products and introducing performance grading system.

By Kim Hye-soon and Choi Mira

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