Recently, it emerged that former CureTherapeutics CEO Kim Tae-ho, who raised allegations over Hanmi Group Chair Song Young-sook's asset and fund use, had sought to pursue business cooperation with Hanmi Group in the past. CureTherapeutics, which Kim previously ran, asked Hanmi Group for investment and to purchase research and development equipment, but it was ultimately not accepted.
According to a compilation of ChosunBiz reporting on the 7th, CureTherapeutics (now closed), run by former CEO Kim Tae-ho, promoted investment and business cooperation starting in 2023 by sending a company profile and an investment proposal to Hanmi Pharmaceutical's research institute and others.
Former CureTherapeutics CEO Kim Tae-ho is the person who last month tipped off a weekly magazine, raising allegations about Hanmi Group Chair Song Young-sook's use of a corporate card and other issues related to Hanmi Group's asset and fund use.
In 1996, 30 years ago, he joined Hanmi Pharmaceutical's trade department as a new hire and worked for about three years and six months. Early on, he worked under Im Jong-ho, former Hanmi Pharmaceutical executive vice president (then Director General) who headed the trade department at the time, then moved to the secretariat, where he worked for about a year before leaving the company in 1999.
Former executive vice president Im Jong-ho is known to be the son of the brother of the late founder and former Hanmi Group Chair Im Sung-ki, and a cousin of Chair Im Jong-yoon of Kory Group. After leaving Hanmi Pharmaceutical, he served as head of the management division at CureTherapeutics, which Kim founded.
According to multiple Hanmi Group employees, CureTherapeutics conducted multiple technical reviews with Hanmi Group-related departments and researchers in 2023–2024. The technical reviews were reportedly requested by former executive vice president Im Jong-ho.
A researcher who took part in the review at the time said in a call with this newspaper, "In Feb. 2024, former CEO Kim and his staff attended in person to give a technical presentation, but the conclusion was that it lacked differentiation compared with competing technologies," adding, "We conveyed to the company that it was not an investment target based on the review, and later replied by official email that it would be difficult to continue cooperation."
Even after that, CureTherapeutics kept in contact with Hanmi Pharmaceutical. According to several employees, after the investment review ended, former executive vice president Im and a CureTherapeutics staffer asked Hanmi Group to purchase research and development equipment owned by CureTherapeutics. Hanmi Group did not accept that request either.
A researcher familiar with the situation at the time said, "It was highly unusual for a company that had been assessed as lacking technological competitiveness to request not only investment but also the purchase of research and development equipment," adding, "It was a request the company found hard to accept."
Hanmi Group did not proceed with either the investment or the equipment purchase. CureTherapeutics later shut down. Online records list the company's closure date as Dec. 31, 2024.
Hanmi Group has been embroiled in a management control dispute for years following the death of founder and former Chair Im Sung-ki.
With cracks appearing within the "four-party alliance (Shin Dong-kuk, Song Young-sook, Im Ju-hyun, La Defense)" that had joined hands during the management dispute, attention is focusing on why a third party, the former CEO Kim, is repeatedly raising allegations about Chair Song. After tipping off media outlets, he said he would hold a press conference on the morning of the 7th to personally explain the background of the tip and the allegations.
The former CEO Kim is said to have recently contacted Shin Dong-kuk, chair of Hanyang Precision Co. Regarding this, Kim said in a media interview, "What prompted it was a suggestion that it would be good if a former Hanmi Group executive moved together," adding, "I was trying to mediate between people who were in conflict."
Shin, a junior from Chair Im Sung-ki's hometown, cast himself as a "relief pitcher" after Im died in 2020, alternately joining hands with the brothers' side and the mother-daughter side to build his influence. In the meantime, he kept increasing his equity. In 2024, Shin joined hands with the mother-daughter side to wrap up the management dispute, but this year, he also began litigation worth about 60 billion won with the mother and daughter, and the conflict continues.
After that, second son and CEO Im Jong-hoon, long viewed as holding the casting vote, formed a "family alliance" with his mother and older sister, pushing the family's friendly equity above that of current largest shareholder Shin Dong-kuk, chair of Hanyang Precision Co. In response, Shin again moved to expand his equity. He signed a stock purchase agreement with seven people, including founder's eldest son and Chair Im Jong-yoon, who had once joined hands with the second son, and his spouse Hong Ji-yoon, to transfer equity to Shin.
Shin announced last month that he plans to buy 3,604,799 common shares of the holding company Hanmi Science(008930) over the counter for about 172.7 billion won. Shin's over-the-counter purchase will run from the 7th to the 11th, with an acquisition price of 47,920 won per share.
In a statement distributed to the press the previous day, Kim said, "The tip was not to slander a particular person but for Hanmi's 'separation of ownership and management,'" adding, "If the tip is false, I will take legal responsibility." He also argued, "Rather than questioning the informant's motives or identity, the factual basis of the tip should be verified."
A Hanmi Group official said, "As the informant seeks to criticize Hanmi, we think it is also necessary for the person to reflect on whether they tried to pursue private gain," adding, "If it is confirmed that the materials were obtained illegally and are unclear, it will be hard to avoid legal responsibility."