Hanmi Pharmaceutical and Kory Group Under Investigation for Alleged Unfair Internal Transactions

 

 

 

Hanmi Pharmaceutical recently launched an internal investigation into allegations of unfair internal transactions between Hong Kong-based Kory Group and Beijing Hanmi Pharmaceutical.

Kory Group is known to be owned by Im Jong-yoon, the second-generation owner of Hanmi Pharmaceutical Group and an inside director of Hanmi Science and Hanmi Pharmaceutical.

According to a media report, it was suggested that Kory Group's affiliate, Lunmeikang, may have engaged in unfair internal transactions by distributing pharmaceuticals produced by Beijing Hanmi within China.

According to the pharmaceutical and biotech industry, Park Jae-hyun, CEO of Hanmi Pharmaceutical, mentioned in an email to executives that this is "a significant issue that could harm Hanmi Pharmaceutical's management," indicating that the Audit Committee has recognized the seriousness of these allegations and requested an official investigation.

CEO Park added, "We will ascertain the exact facts regarding the matters raised in the article and take additional actions if necessary."

He emphasized, "Hanmi Pharmaceutical will confirm that it is operated through a transparent and advanced management system to dispel these suspicions," acknowledging the concerns related to this issue.

He stated, "If there are any problematic processes, we will improve them and use this as an opportunity to advance towards a global Hanmi."

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Hanmi Pharmaceutical and Kory Group Under Investigation for Alleged Unfair Internal Transactions