Uribio Appoints Lee Sungrae as CEO... "Strengthening Bio Business"
[Asia Economy Reporter Hyunseok Yoo] Woori Bio announced on the 11th that it has appointed Lee Soong-rae, former CEO of Dongwha Pharm, as its new CEO to strengthen its bio business.
New CEO Lee Soong-rae graduated from Sungkyunkwan University with a degree in Korean Language and Literature. He joined Korea Pfizer Pharmaceuticals in 1982 and spent 27 years gaining experience from pharmaceutical sales, new drug Product Manager (PM), new drug development team leader, marketing director, sales executive director, to Business Excellence executive director, making him a pharmaceutical expert who has worked his way up from a sales representative to top management. He also served as CEO of Dongwha Pharm from 2013 to 2015, where he was recognized for leading various new product launches and improving sales systems.
Yoon Cheol-joo, Chairman of Woori Group, explained, “To strengthen Woori Bio’s future vision of natural bio business, we have brought in Lee Soong-rae, who has been recognized for his capabilities in the pharmaceutical industry for over 30 years, as top management.”
Woori Bio Co-CEO Cha Ki-hyun said, “Along with the appointment of the new CEO, we have established a health functional food B2C division,” adding, “New CEO Lee Soong-rae will combine his marketing know-how and corporate capabilities accumulated in the pharmaceutical industry to launch new in-house brand products this year.”
Lee Soong-rae, who will officially take office through the shareholders’ meeting on the 27th, stated, “Our natural plant factory enables uniform cultivation of plants and control of functional ingredient content, allowing us to develop not only higher-level health functional foods but also new drugs that have not existed in the market,” expressing his ambition to “grow Woori Bio into the best natural bio company.”
Woori Bio, originally Woori ETIA, a comprehensive electronic components company established in 2000, changed its name last March when entering the bio business and is currently expanding its business into natural material development and health functional foods.
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Meanwhile, Woori Group, to which Woori Bio belongs, is a global company specializing in lighting and IT components with consolidated sales of 1.7587 trillion KRW last year. It operates 16 affiliates worldwide with 8,000 employees.
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