JW Group Honorary Chairman Lee Jong-ho Passes Away at Age 90

Lee Jong-ho, Honorary Chairman of JW Group, passed away at 7:49 a.m. on the 30th due to old age. He was 90 years old.

Lee Jong-ho, Honorary Chairman of JW Group. [Photo by JW Group]

A JW Group official stated on the 30th, "Honorary Chairman Lee Jong-ho was hospitalized at Severance Hospital, and his condition rapidly worsened the day before. He peacefully passed away surrounded by his family."

The honorary chairman began actively participating in the management of JW Choongwae Pharmaceutical in 1966 and succeeded in developing 'Lignomycin,' the first synthetic antibiotic in Korea and the second in the world, in 1969. He then succeeded in synthesizing Pivampicillin, regarded as the latest derivative in the penicillin antibiotic field at the time, in 1974, developing 'Pivaroxin' and proving his technological prowess. In recognition of these achievements, he was inaugurated as the 14th Chairman of the Korea Pharmaceutical Association in February 1993.

He also spared no investment in the intravenous fluid industry, which can be considered the company's identity. In 1997, JW Group succeeded in developing the first Non-PVC intravenous fluid bag in Korea that did not detect environmental hormones. In 2006, the group invested 160 billion KRW to establish the world's largest intravenous fluid factory in Dangjin, Chungnam Province.

He also devoted efforts to research and development (R&D). To enhance R&D capabilities, Honorary Chairman Lee established the Central Research Institute in 1983, when the concept of new drugs was still vague in Korea. In 1992, he established 'C&C New Drug Research Institute,' Korea's first joint bio-venture, which can be considered the precursor of open innovation today, through a 50:50 equity investment with Japan's Chugai Pharmaceutical. The institute is currently 100% owned by JW Choongwae Pharmaceutical.

Additionally, he engaged in social contribution projects by donating his private wealth. In 2011, Honorary Chairman Lee donated 20 billion KRW of his private funds to establish the public interest foundation, Choongwae Academic Welfare Foundation, serving as its chairman to realize corporate social value. The foundation is a public corporation established to support academic research in health and medical fields and assist underprivileged groups. It continues to conduct various social contribution activities, including community volunteer work and housing support projects for basic scientists.

The funeral will be held as a company funeral by JW Group. The funeral hall is prepared in Special Room 1 at Yonsei University Sinchon Funeral Hall. Condolences can be paid from 10 a.m. on May 1. The funeral procession will take place at 7 a.m. on May 3. The burial site is in Hoengsan-ri, Jung-myeon, Yeoncheon-gun, Gyeonggi Province.

JW Group stated, "In accordance with the late chairman's humble lifestyle and the wishes of the bereaved family, we respectfully decline flowers and condolence money."

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