Im Jong-yoon "Experience of success from 10 billion to 400 billion KRW sales at Bukgyeong Hanmi... Confident in overcoming 1 trillion KRW net profit and undervaluation"

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Im Jong-yoon, CEO of Hanmi Pharmaceutical, stated that he has experience growing sales from the 10 billion KRW range to 400 billion KRW and expressed his ambition to transform Hanmi Pharmaceutical into a structure that generates high profit margins.

In a statement released on the 22nd, CEO Im said, “Last year, Hanmi Pharmaceutical’s annual sales were approximately 1.5 trillion KRW, with profits of 220 billion KRW, of which Beijing Hanmi Pharmaceutical contributed 26% (397.7 billion KRW) of sales and 44% (97.8 billion KRW) of profits. I have the successful experience of growing Beijing Hanmi Pharmaceutical from annual sales in the 10 billion KRW range in 2004 to the current annual sales of 400 billion KRW and profit margin of about 25%.”

Im Jong-yoon explained that in the global second-largest pharmaceutical market, China, with a market size of about 225 trillion KRW, they created four market-leading products with a 25% profit margin based on thoroughly localized infrastructure. He also served as CEO of the holding company Hanmi Science for 12 years and stated that he achieved Hanmi Pharmaceutical’s growth and the 2015 technology export success together with the late Chairman Im Seong-gi.

CEO Im said, “For Hanmi’s 100-year future, the two brothers Im Jong-yoon and Im Jong-hoon will carry on the tradition and spirit of innovation,” adding, “We will enter the 50 trillion KRW market capitalization group by attracting 1 trillion KRW in investment and achieving 1 trillion KRW in net profit.”

He said, “In the 1960s and 1970s, when Korean pharmaceutical companies were desperate to acquire drug and technology licenses from overseas pharmaceutical companies, the late Chairman quietly and boldly pursued the localization of pharmaceuticals with a spirit of challenge and conviction without hesitation.”

He also stated, “This spirit of challenge and innovation led to Korea’s first and the first domestic pharmaceutical company’s achievement in 1989 of a 6 million USD technology export of cefotaxime to the multinational company Roche. Later, in 2015, contracts worth a total of 5 trillion KRW were signed for technology exports to Sanofi, Boehringer Ingelheim, and Lilly, leaving a historic record that changed the paradigm of the pharmaceutical industry in Korea’s industrial and pharmaceutical sectors.”

He said, “Hanmi has the DNA, experience, and potential for success. Hanmi Pharmaceutical has developed, clinically tested, and obtained approval for over 450 chemical drugs and has been number one in the pharmaceutical market,” adding, “Hanmi Pharmaceutical has more potential than any other pharmaceutical bio company but is currently undervalued.”

He continued, “I will revive Hanmi Pharmaceutical’s successful experience and infrastructure potential,” emphasizing, “If victorious in this week’s general meeting, we will attract 1 trillion KRW in investment to become a global leader in Contract Development Organization (CDO) and Contract Research Organization (CRO) and achieve 1 trillion KRW in net profit, thereby entering the 50 trillion KRW tier group.”

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