DAEWON Pharmaceutical announced on the 6th that it has appointed Bae Moon-hyung as the chief executive officer (CEO) of its health supplement subsidiary, DAEWON Healthcare.
New CEO Bae has about 20 years of experience in the health supplement field, having worked at Daewoong Pharmaceutical and ALPHABIO, and has accumulated expertise and know-how in formulation research and the development of individually recognized ingredients. Recently, he served as the head of the ALPHABIO Research Institute. Individually recognized ingredients refer to those that have been individually acknowledged for their functionality and safety by the Ministry of Food and Drug Safety but are not listed in the health supplement directory.
CEO Bae said, "In the health supplement market, where competition is very fierce due to low entry barriers, it is difficult to survive with products and formulations of the same level. I will make my best efforts to integrate innovative research and development technology and manufacturing process know-how and lead the market to make our company one that others aspire to."