HanmiScience to Establish Sole Leadership of Chairwoman Song Young-sook... Eldest Daughter Also Resigns as Inside Director

CEO Lim Jong-yoon and Director Lim Joo-hyun Both to Step Down as Internal Directors

[Asia Economy Reporter Lee Gwan-joo] Hanmi Science, the holding company of Hanmi Pharmaceutical Group, will establish a sole management system under Chairman Song Young-sook of Hanmi Pharmaceutical Group.

Hanmi Science announced on the 15th that it will not propose the reappointment of CEO Lim Jong-yoon as an inside director at the shareholders' meeting scheduled for the 24th, and that Lim Joo-hyun, who was newly appointed last year as an inside director, will soon voluntarily resign.

Hanmi Pharmaceutical Group explained, "This is a plan to resolve the issue of inside directors outnumbering outside directors at Hanmi Science, establishing an advanced management system while Chairman Song maintains the position of CEO of Hanmi Science to implement responsible management."

Accordingly, Chairman Song will make major group decisions, while day-to-day management issues will be handled by professional managers. The company added that the three siblings, Lim Jong-yoon, Joo-hyun, and Jong-hoon, will continue their current roles as presidents of Hanmi Pharmaceutical without changes.

Chairman Song is the spouse of the late founder of Hanmi Pharmaceutical Group, former Chairman Lim Sung-gi. After the passing of former Chairman Lim in August 2020, she has led the company in a dual CEO system with CEO Lim Jong-yoon. Chairman Song holds 11.65% of Hanmi Science shares, while CEO Lim holds 7.88%. CEO Lim's younger siblings, Lim Joo-hyun and Lim Jong-hoon, presidents of Hanmi Pharmaceutical, hold 8.82% and 8.41%, respectively.

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