Ildong Pharmaceutical Appoints Vice President Lee Jae-jun as Chief Operating Officer

President Seojin Sik
Appointed as CEO of New Drug Development Subsidiary
Unovia

Ildong Pharmaceutical announced on the 1st that it has appointed Vice President Lee Jae-jun as the new Chief Operating Officer (COO).

Lee Jae-jun, Chief Operating Officer (COO) and Vice President of Ildong Pharmaceutical Photo by Ildong Pharmaceutical

Vice President Lee joined Ildong Pharmaceutical last year and has been overseeing the company's global business as the head of the Global Business Division, managing overseas strategy, international sales, business development (BD), and contract manufacturing and consignment businesses. He plans to focus on ▲ improving profitability and efficiency ▲ restructuring the business and discovering and nurturing new ventures ▲ stabilizing the organization while operating the company for the time being. Additionally, leveraging his existing experience and capabilities, he intends to put more effort into building growth engines through securing domestic and international licensing in/out and partnership alliances.

Vice President Lee graduated from the University of British Columbia in Canada and its graduate school, and completed a doctoral program in biomedical engineering at Northwestern University in the United States. He began his career in healthcare and pharmaceutical/biotech sectors as a senior consultant at the Chicago headquarters of global consulting firm A.T. Kearney. He has held various practical roles including Executive Director at GlaxoSmithKline (GSK), Senior Executive Director at Dong-A ST, and CEO of Youngjin Pharm, accumulating extensive experience in business and organizational management.

Meanwhile, former COO Seo Jin-sik has been appointed as the CEO of Yunovia, a newly established subsidiary dedicated to new drug research and development (R&D), along with President Choi Sung-gu, head of the R&D division. Seo will focus on the establishment and future operations of the new corporation. The date for the spin-off and establishment of Yunovia is November 1. All matters related to the establishment of the corporation are expected to be finalized following the resolution at the extraordinary shareholders' meeting scheduled for the 5th of next month.

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