Song Young-sook, chairwoman of Hanmi Pharmaceutical (128940) Group, expressed regret to employees over the turmoil caused by a management control dispute following the death of founder Lim Sung-ki, and pledged to resolve the situation quickly.
In a message posted on the company's internal bulletin board to mark Hanmi's founding anniversary, Song said she felt ashamed of how the group had handled the process of settling a massive inheritance tax bill after Lim's death, according to industry sources on Oct. 12. "I am sorry that I have shown you an embarrassing side in the course of resolving the enormous inheritance tax problem after Chairman Lim's departure," she said. "I will work to clear up this confusion as soon as possible."
Song thanked employees for delivering results despite the continuing dispute, including domestic approval of the obesity treatment Efe and improved earnings. "Even amid the recent confusion, the innovative results achieved by our Hanmi employees have been truly remarkable," she said.
She also said she would support professional managers so they can focus on running the business without being affected by external conflicts. "I will hold the center so that an environment can be created where people can concentrate only on their work, and so that the professional managers at each company can focus solely on their work without being swayed by outside pressure," Song said. She added: "I will set an example and work even harder so that we do not make the mistake of being trapped in the past and blocking the company's future." She urged employees to "once again boldly take on the path others have not taken."
Hanmi Pharmaceutical Group has been through a family dispute over how to pay inheritance taxes since Lim died in 2020. More recently, Shin Dong-kuk, chairman of Hanyang Precision and the largest individual shareholder in holding company Hanmi Science (008930), has been expanding his stake, fueling continued conflict with Song's side.