Dongkook Pharmaceutical placed Oner's third generation at the forefront of management. Observers said the company sent a clear signal of a generational shift as it stands on the verge of reaching 1 trillion won in sales.
Dongkook Pharmaceutical on the 20th promoted Deputy Minister Byeong-hun Kwon to director through an executive reshuffle. Kwon, born in 1995, is the third generation of Oner, following the late Honorary Chairman Kwon Dong-il and Chairman Kwon Ki-beom.
He followed a typical "successor" path. After double-majoring in policy studies and economics at Cornell University in the United States, he worked at Boston Consulting Group (BCG), Mirae Asset Venture Investment, and MAGNA Investment.
After joining Dongkook Pharmaceutical's financial planning office in Apr. 2024, he learned overall management with a focus on financial planning. He has assisted Chairman Kwon Ki-beom and has been involved in the strategy-setting process.
His future role is likely to focus on expanding the healthcare business. Dongkook Pharmaceutical is pursuing a strategy of maintaining its existing pharmaceuticals business as a stable cash generator while developing healthcare as a new growth pillar.
Kwon is said to have been involved from the investment stage in the acquisition of Lebom Cosmetics. Lebom Cosmetics is an original design manufacturing (ODM) corporations in which Dongkook Pharmaceutical invested 30.7 billion won in 2024 to secure a 53.66% equity stake. It is cited as a key to achieving "1 trillion won in sales."
Dongkook Pharmaceutical posted 926.9 billion won in consolidation sales and 96.6 billion won in operating profit last year. Compared with a year earlier, sales rose 14.1% and operating profit increased 20.1%. The operating margin climbed from 9.2% in 2023 to 9.9% in 2024 and 10.4% last year, entering double digits.
By size, it has not yet joined the "1 trillion won club." Eight traditional pharmaceutical companies — Yuhan, GC Pharma, Chong Kun Dang pharmaceutical, Kwangdong Pharmaceutical, Hanmi Pharmaceutical, Daewoong Pharmaceutical, Boryung, and HK inno.N — have already exceeded 1 trillion won in annual sales. If Dongkook Pharmaceutical reaches 1 trillion won this year, it would be the ninth to enter.
The sales mix is based on existing product lines such as Insadol and Madecassol, with cosmetics like Centellian24 taking up a larger share. Cosmetics and other pharmaceuticals accounted for the largest portion at 30.8%, followed by tablets (20.2%), injectables (14.7%), pharmaceutical ingredients and beauty devices (18.8%), and capsules (6.4%).