"Greater Growth Potential Through OCI-Hanmi Pharmaceutical Group Integration"

I Woo-hyun OCI Holdings Chairman
Emphasizes in Q4 Earnings Conference Call

Lee Woo-hyun, Chairman of OCI Holdings. Photo by OCI Holdings

"By becoming a team with South Korea's top pharmaceutical and bio companies, we will be able to achieve greater growth in the global healthcare market."

On the afternoon of the 7th, OCI Holdings Chairman Lee Woo-hyun stated during the OCI Holdings Q4 earnings conference call , "Since 2018, we have gradually invested in pharmaceuticals and bio. The pharmaceutical and bio business we had was small in scale, so we felt limitations in growth."

He mentioned the growth potential of the pharmaceutical and bio business, explaining the background of the company integration by saying, "The industrial chemical sector is facing increasingly challenging industrial conditions in Korea and severe price competition."

Chairman Lee said, "If the company integration process is successfully completed around March to April, the management teams of Hanmi and OCI will sit down together to actively study how to collaborate in various fields and strive to come up with good solutions."

He added, "Around next year, we expect to announce a new CI (Corporate Identity) that can well represent the two companies."

Earlier, OCI Group and Hanmi Pharmaceutical Group signed an agreement on integration between the groups through each company’s in-kind contributions and new share issuance acquisition, following resolutions by each company’s board of directors on the 12th of last month. OCI Holdings will acquire a 27.03% stake in Hanmi Science, the holding company of Hanmi Pharmaceutical Group. The total investment amount is 770.3 billion KRW.

Based on a joint management system following the integration with Hanmi Pharmaceutical Group, the plan is to build a diverse business portfolio to enhance corporate value. In particular, the company expects that OCI’s overseas network will help Hanmi’s entry into overseas markets, creating synergy.

Chairman Lee said, "More than 80% of OCI’s sales come from overseas," and added, "OCI can act as a guide to help Hanmi’s excellent products actively enter overseas markets."

He emphasized, "While our expertise in pharmaceuticals and bio is much lower than Hanmi’s, we are a company with a strong DNA for pioneering new markets overseas," and said, "We expect synergy in these areas."

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