Last year in Korea's pharmaceutical and biotech industry, executives with total compensation exceeding 8 billion won emerged one after another. The list includes Im Jong-yoon, the eldest son in the founder family of Hanmi Pharmaceutical and co-chair (chair) of Beijing Hanmi Pharmaceutical, and Cha Seok-yong, chair of Hugel, as retirement pay and stock options sharply lifted the compensation aggregates.
On the 20th, according to the Financial Supervisory Service, former Hanmi Pharmaceutical President Im Jong-yoon received total compensation of 8.81 billion won, the highest in the industry. This includes about 7.1 billion won in retirement income and compensation from affiliates such as Beijing Hanmi Pharmaceutical. Earlier this year, the former president sold all of his more than 1 million shares of Hanmi Science, which were purchased by Shin Dong-kuk, chair of Hanyang Precision Co. and the largest individual shareholder of the Hanmi group.
Hugel Chair Cha Seok-yong received 8.621 billion won, including gains from exercising stock options, ranking No. 2 in industry compensation. Cha, a professional manager who joined Hugel in 2023, was granted stock options at the time of appointment to buy 1% of outstanding shares at 130,531 won per share. The exercise period runs from Mar. 2025 to Mar. 2029.
Among founder families (owners) at major drugmakers, many received compensation in the 1 billion to 2 billion won range last year. The figures exclude dividends.
Chong Kun Dang Holdings Chair Lee Jang-han received a total of 2.704 billion won through Chong Kun Dang Holdings and Chong Kun Dang pharmaceutical.
Celltrion Group Chair Seo Jung-Jin's compensation last year totaled 2.491 billion won. It comprises a 1.51 billion won salary plus about 570 million won in performance pay (PS). Vice Chair Seo Jeong-su, Seo's younger brother, received 1.231 billion won; Senior Vice Chair Seo Jun-seok, the second son, received 1.229 billion won; and CEO Seo Jin-seok, the first son, received 1.126 billion won.
Dong-A Socio Holdings Chair Kang Jeong-seok's compensation last year was 1.901 billion won. GC Biopharma Group Chair Heo Il-seop received 1.32 billion won from GC Holdings and others, and GC Biopharma CEO Heo Eun-chul received 1.273 billion won.
Daewon Pharmaceutical founder family member Chair Baek Seung-ho received 584 million won last year; Vice Chair Baek Seung-yeol received 522 million won; and President Baek In-hwan, the chair's eldest son, was disclosed at 521 million won.
◇ Clear performance bonuses and equity pay for professional managers
John Rim, the professional manager leading Samsung Biologics, received a total of 6.689 billion won, including 1.568 billion won in salary and 4.921 billion won in bonuses.
Rim personally clinched large contract manufacturing (CMO) deals with global drugmakers, leading order intake and sales efforts.
CEO Kim Kyung-ah, who leads Samsung Epis Holdings established in Nov., received 676 million won just two months after the entity's incorporation. Incentives and long-term performance rewards were reflected.
At Celltrion, Director Yoon Sa-ryong booked 2.215 billion won in stock option exercise gains last year, the second-highest compensation in the Celltrion group after Chair Seo Jung-Jin.
Yuhan's professional manager, CEO and President Cho Uk-je, received 1.234 billion won last year, which included other welfare-type income (150 million won) such as a long-service commemorative gift (a gold medal). President Kim Yeol-hong, who oversees R&D, received a total of 738 million won combining salary and bonuses. In Yuhan's case, many retirees appeared on the "top five by compensation" list in last year's annual report.
SK Biopharmaceuticals' professional manager, CEO and President Lee Dong-hoon, received a total of 1.444 billion won. The result reflects recognition for turning to profit and expanding sales of the epilepsy treatment "Xcopri." In addition to cash pay, Lee was granted 22,435 PSU (performance share units), with payout determined by enterprise value improvement over the next three years.
Vice Chair Yoon Jae-choon, CEO of Daewoong, the holding company of Daewoong Group, received 1.012 billion won. Daewoong Pharmaceutical CEO Lee Chang-jae received a total of 801 million won last year.
In addition to salary and regular bonuses, a 300 million won performance incentive tied to the global performance of the botulinum toxin Nabota and the gastroesophageal reflux disease treatment Fexuclue was included.
Park Seong-su, CEO and president overseeing Daewoong Pharmaceutical's global business and R&D, recorded total compensation of 588 million won last year, including a 150 million won incentive. Daewoong Pharmaceutical also adopted an RSU (restricted stock unit) program and granted Park 3,186 shares.
◇ Expansion of the "100 million won club" for average employee pay
More corporations are paying an average salary per employee exceeding 100 million won.
Chong Kun Dang Holdings, which has 38 employees, had the highest average salary per person at 142.47 million won.
Next was Dong-A Socio Holdings, with 77 employees, at 136.1 million won.
Samsung Epis Holdings, newly established after the spin-off of Samsung Biologics and Samsung Bioepis in Nov., disclosed that it paid an average salary of 118 million won per person over two months to nine employees.
Companies explained that holding firms are composed of a small number of employees focused on high-paid office roles such as strategy and finance, and tend to have long tenures, creating an optical illusion that widens the pay gap with core business affiliates.
Excluding holding companies, pharmaceutical and biotech corporations with average annual pay per employee in the 100 million won range based on annual reports are: Samsung Biologics at 114 million won; SK Biopharmaceuticals at 109 million won; Celltrion at 107 million won; and Yuhan at 100 million won.
Samsung Biologics has 5,455 employees excluding registered executives. The average length of service is 5.3 years.
Celltrion has 3,153 employees and an average length of service of 6.2 years. The average salary per Celltrion employee is tallied excluding stock options; including stock option exercise gains, it is 112 million won.
SK Biopharmaceuticals has 272 employees and an average length of service of 6.3 years. Yuhan has 2,153 employees in total, and its average length of service is 12 years and 8 months, the longest in the industry.
Among other major drugmakers, average salary per employee was tallied at 86 million won at Hanmi Pharmaceutical; 80 million won at Chong Kun Dang pharmaceutical; 78 million won at Daewoong Pharmaceutical; 77 million won at Daewon Pharmaceutical; and 73 million won at GC Biopharma.
Meanwhile, Hugel's 2025 annual report lists average pay per employee at 128 million won, but this appears to be a calculation error. Dividing the actually disclosed annual salary aggregates of 40.569 billion won by the total headcount of 629 employees excluding registered executives yields an arithmetic average of 64.5 million won. Hugel disclosed average pay of 74 million won for male employees and 54 million won for female employees. The average length of service for Hugel employees is 4.1 years.