Myung In Pharm will shift to a professional management system.
Myung In Pharm said in a filing that on the 3rd it held a board meeting and resolved to recommend former Hanmi Pharmaceutical Vice Chairman Lee Kwan-sun and Myung In Pharm Sales Head President Cha Bong-kwon as inside director candidates, and to place on the agenda their appointments at the 38th regular shareholders meeting to be held on Feb. 26.
Founder Chair Lee Haeng-myung will step back from the front lines of management. The company had promised the market "separation of ownership and management" at the time of its KOSPI listing in Oct. last year.
Candidate Lee Kwan-sun was born in Jan. 1960 and is currently CEO of G I Partners. From Mar. 2020 to Feb. 2022, Lee served as chair of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA). Before that, at Hanmi Pharmaceutical, Lee served as vice chairman, CEO, and head of the research institute, building a career of nearly 40 years from 1984 to 2022. Lee graduated from Seoul National University's department of chemistry education and earned master's and doctoral degrees in chemistry from KAIST.
Candidate Cha Bong-kwon was born in Jul. 1963 and has served as president overseeing sales at Myung In Pharm since Jul. last year. Before that, Cha was Deputy Minister overseeing sales. Cha joined Myung In Pharm in 1990 as part of the first open recruitment class of the sales department and has been with the company for more than 30 years. Cha graduated from Kyonggi University's department of German language and literature.
The board also approved a cash dividends payment of 1,500 won per share that day. The payout ratio is 300%, with total dividends amounting to 21.9 billion won.