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Photo= Yonhap news |
[Alpha Biz= Reporter Kim Jisun] As the Hanmi Group family members remain divided between the mother-daughter alliance (the "triple alliance") and the brotherly faction in a management control dispute, the family has begun a public campaign ahead of Hanmi Science’s extraordinary shareholders’ meeting set for late November.
On the 7th, Lim Jong-hoon, CEO of Hanmi Science and the second son of Hanmi Pharmaceutical founder Lim Sung-gi, announced an investment of approximately 815 billion won, targeting over 2 trillion won in group revenue and 1 trillion won in profit by 2028. As the current head of holding company Hanmi Science, he intends to maintain the current structure, aiming to solidify his position based on his management capabilities and performance. Lim Jong-hoon is aligned with his older brother, Director Lim Jong-yoon.
However, the three-member alliance—comprising the founder’s widow, Hanmi Group Chairwoman Song Young-sook; eldest daughter and Vice Chairwoman Lim Joo-hyun; and the largest individual shareholder, Shin Dong-guk, chairman of Hanyang Precision—criticized Lim Jong-hoon’s strategy as merely a rehash of last year’s Hanmi Group strategic report.
During a press conference, Lim Jong-hoon outlined Hanmi Group’s value enhancement and long-term growth strategy, detailing a 815 billion won investment by Hanmi Science, which includes 568 billion won for mergers and acquisitions (M&A), 200 billion won for research and development (R&D), and 42 billion won for manufacturing facilities to achieve the 2028 revenue goal.
Lim stated that the current management structure centered around him would continue through 2027. The upcoming extraordinary shareholders’ meeting on the 28th will consider a proposal to expand Hanmi Science’s board from 10 to 11 members, and to appoint Chairwoman Song and Vice Chairwoman Lim as directors. If both proposals pass, it could be disadvantageous to Lim Jong-hoon and his brother.
Lim emphasized, “Regardless of the outcome of the extraordinary shareholders’ meeting, the management system centered around me will continue through 2027, and a new leadership will be established with a board restructuring at Hanmi Pharmaceutical’s extraordinary shareholders’ meeting on December 19.” He added that in March 2026, the term of Chairwoman Song will expire, at which point he anticipates full management control.
Hanmi Science highlighted “non-organic growth” and “diversification” as core components of its long-term strategy, proposing M&A, co-promotion efforts to expand into new therapeutic areas, enhancement of R&D capabilities in innovative drugs, expansion of CDMO (Contract Development and Manufacturing Organization) services, and entry into new markets such as Europe and North America. Lim stated, “The strategy is grounded in realistic measures based on the insights and consultancy of various internal and external experts.” However, he did not provide specifics on how the 815 billion won in investments would be financed.
The triple alliance harshly criticized the press conference, calling it an “empty show lacking essential details.” They argued, “No answers were provided on how the massive 800 billion won would be raised,” adding that Lim’s mention of “capital increases” and “asset sales” could imply fundraising methods that may heavily dilute existing shareholders’ stakes. They urged that Lim clarify whether the investment aims to enhance the company’s future value or to settle his own debts.
The alliance further criticized the announcement of potential investments without consulting shareholders as “dictatorial management.”
Hanmi Science Executive Director Kim Young-ho countered, saying the funding is for “growth, not for defending management control,” adding, “We naturally expect the major shareholders (triple alliance) to support this.” He emphasized, “If certain shareholders’ opposition hinders corporate value growth, this loss ultimately affects ordinary shareholders and Hanmi Group employees.”
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
