Pharmaceutical Bio Association Appoints Lee Jaeguk as Vice Chairman and Next Full-time Executives and Vice Chairpersons

The Korea Pharmaceutical and Bio-Pharma Manufacturers Association held a board meeting on the 15th and announced the appointment of Lee Jae-guk as the next vice chairman and other full-time executives, as well as Yoon Woong-seop as the next chairman and the vice chairmen who will serve a two-year term together. To respond to the era's demands for innovation and change in the pharmaceutical and bio industry, the association also established new committees such as the Manufacturing Quality Innovation Committee, Social Contribution Committee, and Bio Venture Special Committee.

Vice Chairman Jang Byung-won, Chairman Yoon Sung-tae (Chairman of Huons Group), Chairman Noh Yeon-hong, Next Chairman Yoon Woong-seop (Vice Chairman of Ildong Pharmaceutical), and Next Vice Chairman Lee Jae-guk (from left) of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association's current and incoming executives are taking a commemorative photo at the first board meeting of 2024 held on the 15th.
[Photo by Korea Pharmaceutical and Bio-Pharma Manufacturers Association].jpg

At the first board meeting of 2024 held on the 4th floor auditorium of the association building in Bangbae-dong, Seocho-gu, Seoul, Yoon Woong-seop, the next chairman (Vice Chairman of Ildong Pharmaceutical), who will begin his two-year term next month, had the vice chairman candidates he recommended according to the articles of association approved as originally proposed. The representatives of the vice chairman companies are ▲ Kim Woo-tae, Chairman of Guju Pharmaceutical ▲ Yoon Jae-chun, Vice Chairman of Daewoong ▲ Baek In-hwan, President of Daewon Pharmaceutical ▲ Song Jun-ho, President of Dongkook Pharmaceutical ▲ Kim Min-young, President of Dong-A ST ▲ Jang Doo-hyun, President of Boryung ▲ Cho Wook-je, President of Yuhan Corporation ▲ Han Sang-chul, President of Cheil Pharmaceutical ▲ Kim Young-joo, President of Chong Kun Dang ▲ Park Jae-hyun, CEO of Hanmi Pharmaceutical ▲ Yoon Sung-tae, Chairman of Huons Group ▲ Heo Eun-cheol, President of GC Green Cross ▲ Shin Young-seop, President of JW Chungwoo Pharmaceutical ▲ Son Ji-woong, Head of Life Sciences Business Division (President) of LG Chem ▲ Ahn Jae-yong, President of SK Bioscience, totaling 15 members.

Additionally, as the two-year terms of full-time executives including Vice Chairman Jang Byung-won end at the end of this month, the board also approved the appointment of three individuals recommended by Chairman Noh Yeon-hong according to the articles of association: Vice Chairman Lee Jae-guk, Executive Director Eom Seung-in, and Managing Director Jang Woo-soon. Vice Chairman Lee Jae-guk joined the association in 2013 after serving as a director at Daewoong Pharmaceutical, and has held positions such as Head of Communications, Head of Planning Division, and Managing Director, and has served as Executive Director for four years since 2020.

The board appointed Hong Jeong-gi, former Secretary General of the Korea Health Personnel Licensing Examination Institute, as a managing director candidate and delegated the final appointment authority to next chairman Yoon Woong-seop, contingent upon approval from the Government Official Ethics Committee’s employment approval review. Furthermore, the next chairman Yoon Woong-seop was also delegated the authority to exercise the right to recommend the next directors and auditors at the 79th regular general meeting.

The board also approved amendments to the committee operation regulations to establish three new committees: the Manufacturing Quality Innovation Committee, Talent Development Committee, Social Contribution Committee, as well as the Bio Venture Special Committee and Intellectual Property Expert Committee. This reflects the association’s commitment to meeting public expectations for manufacturing quality innovation, leading talent development, and promoting ESG (Environmental, Social, and Governance) management. Amendments to the membership management regulations were also passed to address some deficiencies, including specifying a one-month payment deadline for the entrance fee required upon joining the association.

Outgoing director Yoon Sung-tae, whose term ends this month, reflected, “At the time of my inauguration, I pledged to support the growth of member companies encompassing small and medium enterprises, mid-sized and large companies, traditional pharmaceutical companies, and bio ventures,” adding, “The past two years have been a time to feel the heightened support from the government and the public for the industry and to contribute to the development of the industry and strengthening the association’s competitiveness.”

Chairman Noh Yeon-hong stated, “This year, we will focus on accelerating research and development through convergence innovation and open innovation, innovating quality management, strengthening the pharmaceutical supply chain, implementing a predictable drug pricing system, and establishing fair trade order,” and added, “On the journey toward becoming a pharmaceutical and bio powerhouse, we will overcome challenges together with everyone and move forward unwaveringly.”

The 79th regular general meeting of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association will be held on the 22nd at 3 p.m. in the association’s 4th-floor auditorium. Prior to deliberations on the 2024 business plan and budget, the event will include the 5th Korea Pharmaceutical Awards ceremony honoring former Minister of Health and Social Affairs Kim Jeong-su (18th Chairman of the Korea Pharmaceutical Association), presentation of merit plaques to three former chairmen and directors?former association chairman Won Hee-mok and former chairmen Heo Il-seop and Jo Soon-tae?who are turning 70 this year, various commendations including the Minister of Health and Welfare’s Award, and the inauguration and retirement ceremony of outgoing director Yoon Sung-tae and incoming chairman Yoon Woong-seop.

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