[비즈한국] Having passed his 100th day in office, CEO Hwang Sang-yeon of Hanmi Pharmaceutical has addressed internal and external concerns by setting “board-centered transparent management” and “mutual growth” as his core themes. During the ‘Bio Innovation Day’ event held at Hanmi C&C Square in Songpa-gu, Seoul, on the 15th, we met with CEO Hwang to discuss his reflections on his tenure thus far, his vision for the future, and his determination to breathe new life into the stagnant pharmaceutical and biotech venture investment market.
About 50 professionals from the investment industry gathered at the event, demonstrating high interest in the sector. It appears that the fact that Hanmi Pharmaceutical has not previously led large-scale, IR-focused external events also played a role in the high attendance.
Regularizing a ‘Mutual Growth Platform’ Connecting Ventures and Investors
CEO Hwang emphasized that the event’s significance lies in fostering shared growth with the domestic pharmaceutical and biotech ecosystem. He stated, “The venture ecosystem is crucial to the pharmaceutical industry, but the current investment environment is very difficult,” adding, “This started with the idea of creating a venue to connect venture companies and investors that we have come to know through our network.” CEO Hwang’s background, having served as a researcher and head of research centers covering the pharmaceutical and biotech sectors at firms like Meritz Securities, appears to have been a key foundation for establishing this platform for mutual growth.
Regarding the choice of Kiwoom Securities—rather than Meritz Securities, where Hwang previously worked—as the first partner, he emphasized openness. He explained, “We proposed co-hosting to several brokerage firms, and Kiwoom Securities was chosen because it is a house that covers the biotech sector extensively and their schedule was the first to align with ours.”
He expressed his intent to regularize these gatherings, rotating through various brokerage firms that share the event's vision to connect promising ventures with investors. “Our goal is to provide a good space where venture companies and investors can meet to create excellent business opportunities,” CEO Hwang said. “I will continue to maintain these regular meetings while being mindful of the hard work put in by our staff to prepare for the events.”
Dismissing Rumors on Management Rights and Cost Cutting… “Consulting the Board on Even Detailed Matters”
During the event, CEO Hwang shared brief reflections on passing his 100th day in office. Appointed as CEO of Hanmi Pharmaceutical during the regular shareholders' meeting on March 31, he repeatedly emphasized the transparency of corporate governance and dismissed concerns regarding management rights that had arisen inside and outside the market. He explained that he is generating ideas across various fronts to solidify the company's fundamentals and accelerate ESG (Environmental, Social, and Governance) related responsible management.
“We are managing the company with all shareholders and customers as our top priority in accordance with laws and principles,” CEO Hwang emphasized. “We are operating strictly under the board of directors solely for the benefit of all shareholders, so honestly, we do not feel these public concerns internally at all.” In particular, he highlighted a more transparent decision-making process, noting, “Unlike in the past, we are now consulting the board on even the most detailed matters.”
He also firmly denied rumors raised in some quarters regarding cost-cutting on raw materials. CEO Hwang stressed that there is no room for compromise on quality, which is the essence of the pharmaceutical industry and directly linked to life. “As I emphasized in my inaugural address, in the pharmaceutical industry, we can only use ingredients with guaranteed quality,” he said. “Rather than unreasonable cost-cutting, we are continuously pursuing profitability improvements through rational means such as portfolio rebalancing.”
A large number of promising bio-startups also attended the event, including △DeepCardio △Refine △MediTulip △C&Cure △AeroBio △SNIBio △ODN △AutotelicBio △Portrait △Heuron, each presenting their technology and vision to investors.