Huons Holds Regular Shareholders' Meeting... Appointment of CEOs Song Su-young and Yoon Sang-bae

Humedics Announces Dividend and Appointment of New Outside Directors and Audit Committee Members

[Asia Economy Reporter Lee Gwan-joo] Huons and Humedics, Huons Group's KOSDAQ-listed companies, held their regular general meetings of shareholders on the morning of the 25th at the Korean Medicine Life Science Center in Jecheon-si, Chungbuk.

Huons passed all agenda items as originally proposed, including ▲financial statements and dividends (cash dividend of 600 KRW per share, stock dividend of 0.1 shares per share) ▲partial amendment of the articles of incorporation ▲appointment of President Song Soo-young as inside director ▲appointment of Vice President Yoon Sang-bae as inside director ▲appointment of Vice Chairman Yoon Sung-tae as other non-executive director. At this general meeting, newly appointed inside directors Song Soo-young and Yoon Sang-bae were appointed as co-CEOs through the board of directors.

CEO Song Soo-young is a professional manager who served as CEO of Deloitte Consulting in Korea and Japan, a global management consulting firm. He oversees the innovation and reform of the management system of the group including Huons.

CEO Yoon Sang-bae joined Huons after working at Chong Kun Dang, Samsung C&T (Bio Business), GSK Korea, and Boryung Pharmaceutical. At GSK Korea, he served as head of the CNS and respiratory business divisions, defending generics and achieving the number one market share for key products. At Boryung Pharmaceutical, he led domestic sales and marketing of prescription drugs including Kanarb as head of the ETC business division and general manager of business operations.

Song Su-young, President and CEO of Huons (left), Yoon Sang-bae, Vice President and CEO.

Huons stated, “We appointed Vice President Yoon Sang-bae as CEO based on the judgment that a leader with strategic thinking, planning skills, and a deep understanding of the domestic pharmaceutical industry is needed to jump up in our core pharmaceutical business.”

Humedics also approved all agenda items as originally proposed, including ▲financial statements and dividends (cash dividend of 400 KRW per share) ▲partial amendment of the articles of incorporation ▲appointment of directors and audit committee members.

Huons and Humedics solidified their commitment to ESG management and governance improvement by codifying the ESG Committee and Audit Committee in their articles of incorporation. The ESG Committee, established last year under the ESG Management Innovation Team, was positioned as a board-level organization to proactively respond to various ESG issues in line with global management trends. Additionally, to enhance financial soundness and strengthen independent oversight of management, the internal audit body was changed from a full-time auditor to an audit committee. Other approved agenda items included ▲approval of director remuneration limits and ▲approval of stock option grants.

A Huons Group official said, “Despite the prolonged COVID-19 pandemic and economic downturn, both Huons and Humedics successfully defended their performance by leveraging prepared growth momentum, achieving record-high sales. We expect Huons and Humedics to continue growing this year with notable momentum in various areas. We will continue to expand investments for sustainable growth and flexibly respond to changing market trends.”

Meanwhile, the holding company Huons Global will hold its shareholders' meeting at the same location on the morning of the 31st.

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