Vice Chairman Yoon Jae-chun at Daewoong... Lee Chang-jae Appointed Co-CEO of Daewoong Pharmaceutical

[Asia Economy Reporter Seo So-jung] Daewoong Group announced on the 21st that it has carried out the 2022 regular executive personnel appointments, promoting Yoon Jae-chun, who was serving as co-CEO of Daewoong Pharmaceutical, to Vice Chairman of the holding company Daewoong.

Yoon Jae-chun, Vice Chairman and CEO of Daewoong, joined Daewoong Pharmaceutical and served as Head of the Management Support Headquarters, Vice President, and President. He has been leading Daewoong Pharmaceutical alongside CEO Jeon Seung-ho while concurrently serving as CEO of Daewoong. Through this personnel change, he will resign from CEO positions at Daewoong Pharmaceutical and Daewoong Bio but will maintain his CEO position at Daewoong.

Lee Chang-jae, Vice President of Daewoong Pharmaceutical, was promoted to President and will serve as co-CEO (each representing) alongside President Jeon Seung-ho. After graduating from Dong-A University with a degree in Chinese Literature, Lee joined Daewoong Pharmaceutical in 2002, starting in prescription drug (ETC) sales, then moving through marketing PM, sales office manager, and was promoted as the youngest marketing executive. He served as Head of ETC Sales and Marketing Headquarters, Head of Management Headquarters, and was promoted to Vice President in 2020. Overseeing ETC, Consumer Healthcare (CH), and Development Headquarters, he was recognized for his capabilities and appointed as CEO and President of Daewoong Pharmaceutical.

Park Sung-soo, Head of the Nabota Business Headquarters, was promoted to Vice President overseeing Nabota. Park graduated from Seoul National University with a degree in Pharmacy and earned a master's degree from the same university. Since joining Daewoong Pharmaceutical in 1999, he has held key roles in development, approval, marketing, and global operations. From 2011, he served as head of the U.S. subsidiary and returned to Korea in 2015 to lead the Nabota business headquarters.

Ryu Jae-hak, Head of the CH Business Headquarters, moved to the newly established Bio Research Headquarters. Ryu graduated from Chung-Ang University College of Pharmacy and its graduate school, joined Daewoong Pharmaceutical in 2001, and held key positions such as head of the regulatory affairs team, development team, and clinical team before serving as CH Headquarters head for five years.

Among affiliates, Jin Sung-gon, Vice President of Daewoong Bio, was promoted to President, changing from co-CEO (previously Yoon Jae-chun and Jin Sung-gon) to sole CEO. Song Kwang-ho, Vice President of MDwell, was promoted to CEO and President. CEO Jin graduated from Gyeongnam University with a degree in Trade, joined Daewoong Pharmaceutical in 1992, and held roles such as sales office manager, marketing director, and business division head before moving to Daewoong Bio in 2015 to lead the CNS Sales Headquarters. CEO Song graduated from Cheongju University with a degree in Biology, joined Daewoong Pharmaceutical in 1991, and has served as head of new sales business and Vice President of MDwell.

Daewoong Pharmaceutical stated, "This executive appointment aims to strengthen group-wide responsible management functions while establishing a foundation for sustainable growth by enhancing competitiveness and solidifying internal capabilities in global and new business sectors, which are future growth engines." They added, "A notable feature is the bold appointment of young and capable global talents who can lead change and innovation."

Lee Chang-jae, CEO of Daewoong Pharmaceutical, expressed his ambition, saying, "We will produce the highest quality products with a sense of mission and passion," and added, "We will accelerate change and innovation so that Daewoong Pharmaceutical becomes a 'company where people want to work' and a 'company that works well.'"

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