"Realizing financial and realistic barriers..." Chairman Lee Woo-hyun is a valuable growth partner
"Lee Woo-hyun, chairman of OCI Group, is a valuable partner to grow with Korea-U.S. Group."
Lim Joo-hyun, president of Hanmi Group, who is integrating with OCI Group, made the definition like this.
President Lim said in a meeting with the media on the 26th, "Chairman Lee is a partner who considers the parts necessary for the growth of the Korea-U.S. group," adding, "We deeply respect and understand the path that the Korea-U.S. group has taken."
"I think we will work well together when we conduct joint management in the future," he said, explaining that he is currently in contact with our management team frequently and conducting integrated consultations comfortably.
Korea-U.S. Group and OCI Group plan to complete their integration within the first half of this year.
Lim said, "The integration with OCI will be a cornerstone for growing into a global big Pharma."
"While in charge of the new drug development process last time, I felt unreasonable demands from partners with weight class, financial limitations and realistic walls that could not lead innovative new drugs to phase 3 global clinical trials," he said. "If we supplement these sectors through integration with OCI, we will be able to grow into a global big pharma."
"Even if integration is achieved, Hanmi Group and OCI Group will focus on their respective businesses," he added. "Hanmi Pharmaceutical plans to further accelerate R&D on new drug development as it has focused on."
Since the development of new drugs requires a huge investment of funds for more than 10 years, it has made an integration decision with OCI to achieve economies of scale and secure a stronger R&D driving force than before.
It is predicted that they will unite again after some time with Lim Jong-yoon and Jong-hoon, president of Hanmi Pharmaceutical, who are opposing the integration.
President Lim said, "I feel sorry for causing concern to many people due to the expression of family differences such as the prohibition of issuing new shares in opposition to the integration," and added, "I expect that we will be able to unite again after a series of time passes."
Hanmi Group aims to achieve 5 trillion won in sales within the next 10 years.
[WIKI KOREA=Cho Pil Hyun, Staff Reporter]
chop23@wikileaks-kr.org
