'Hanmi Pharmaceutical Chairman Song Youngsook Says "Professional Management System Must Not Be Shaken" Amid Major Shareholder-CEO Conflict'

Statement Issued on March 5
Signs of a Rift Emerging in the Four-Party Alliance

As tensions escalate between Shin Dongguk, Chairman of Hanyang Precision and major shareholder, and Park Jaehyun, CEO of Hanmi Pharmaceutical, Song Youngsook, Chairman of Hanmi Pharmaceutical Group, has stated that "the professional management system must not be shaken."

Song Youngsook, Chairwoman of Hanmi Pharmaceutical Group. Hanmi Pharmaceutical

On March 5, Chairman Song sent a statement to reporters, saying, "Major shareholders should not intervene directly in management, but rather provide sound direction and support." She added, "It is desirable for Hanmi that professional managers lead the company under their given authority and responsibility." She also emphasized that the late Lim Sungki, founder of Hanmi Pharmaceutical, supported the professional management system.

Chairman Song stated, "To prevent a recurrence of such incidents, I ask the professional managers of each company to make the relevant systems and internal controls even more fair and transparent." She added, "Regardless of rank or position, anyone who has engaged in inappropriate conduct should provide an appropriate apology and take responsible action."

Previously, Park Jaehyun, CEO of Hanmi Pharmaceutical, claimed that Shin Dongguk, Chairman of Hanyang Precision and the largest shareholder of holding company Hanmi Science, protected an executive accused of sexual misconduct and interfered improperly in management. Park insists that Chairman Shin's intervention is undermining the professional management system within the group. On the other hand, Chairman Shin maintains that it is not appropriate to call advice from the largest shareholder improper management interference.

On this day, Chairman Song's statement is seen as an expression of support for CEO Park's side. Hanmi Pharmaceutical Group has previously experienced management disputes among the founder’s family. Since 2024, the mother-daughter side of the late founder Lim Sungki (Song Youngsook and Lim Juhyun) and the brothers' side (Lim Jongyoon and Lim Jonghoon) have clashed over management control of the group. At that time, Chairman Shin and private equity manager La Defense Partners formed a 'four-party alliance' supporting the mother-daughter side, which brought the management dispute to an end. The current conflict now puts this four-party alliance at a crossroads.

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