Sillajen Appoints Lawyer Yang Tae-jung as Management Supervisor... "Pursuing Resumption of Stock Trading"

[Asia Economy Reporter Won Dara] SillaJen has appointed attorney Yang Tae-jung as the new Chief Executive Officer.

On the 15th, SillaJen announced that the board of directors resolved to appoint Attorney Yang as the new CEO. CEO Yang graduated from Seoul National University with a degree in law and served as the lead attorney at the law firm Gwangya. CEO Yang plans to review all matters related to SillaJen's investments and proceed with the process of business normalization. SillaJen's stock trading has been suspended since May last year due to embezzlement charges against the former CEO.

Executive Director Shin Hyun-pil has also returned as head of the Business Planning Division. Executive Director Shin was indicted on charges of insider trading for selling 160,000 shares worth 8.7 billion KRW after learning in advance of the negative evaluation results of the phase 3 clinical trial of the immuno-oncology drug 'Pexa-Vec' targeting liver cancer, developed by SillaJen. However, he was acquitted in court last month.

CEO Yang said, "We will work closely with our investment partners to resume stock trading as soon as possible," adding, "We will arrange an official opportunity to communicate with shareholders at the earliest possible time."

This content was produced with the assistance of AI translation services.