New Boryung Holdings CEO Kim Jung-gyun.

Boryung Holdings, a virtual holding company of Boryung Pharmaceutical, held a board of directors’ meeting recently and appointed Chief Operating Officer Kim Jung-gyun to be CEO of the holding company.

New Boryung Holdings CEO Kim is a grandson of Boryung founder Kim Seung-ho and a son of Boryung Pharmaceutical Chairwoman Kim Eun-sun.

Boryung Holdings virtually serves as a holding entity of Boryung Pharmaceutical Group as the company owns a 52 percent stake in Boryung Pharmaceutical.

Appointing of new Boryung Holdings CEO Kim takes the helm of Boryung holdings heralds the launch of an “era of 3G management” by a grandson of Boryung Pharmaceutical Group founder.

New Boryung Holdings CEO Kim is the second biggest shareholder with a 25 percent stake in the company as of the end of 2017.

Kim graduated from University of Michigan and completed a master’s degree in social and administrational pharmacy at Chungang University Graduate School. Kim worked for Samjong KPMG, and he held major posts such as strategic team head, production management team chief, and personnel management team head since he began his career at Boryung Pharmaceutical as an assistant director.

He had served as inside director of Boryung Holdings and chief operating office since January 2017.

The hit products (seen above), produced by Boryung Pharmaceutical, include Yonggaksan, Kanarb, and GelfosM.

Has been credited with improving in-house management regime and resetting investment priority and tapping new businesses like Vigencell through open innovation and his contribution to increasing sales of Boryung Pharmaceutical and improving profitability while spearheading the establishment of a transparent and horizontal corporate culture,” a Boryung Pharmaceutical said.

Kim has been also praised for establishing Boryung Consumer, a subsidiary of Borung Holdings while working as COO of the company and helping each business company shift into a regime focusing on a board of directions, designed to form a rapid and transparent decision-making regime as well as strengthening collaboration among boards of directors with the goal of enhancing corporate values, the official added.

Boryung Pharmaceutical saw sales growing an annual average growth rate of 7.1 percent in the recent three years and profitability dramatically improving.

Boryung Biopharma, a subsidiary specializing in vaccines and bio R&D, showing signs of a higher growth rate, is predicted to top 100 billion won in sales this year.

New Boryung Holdings CEO Kim said, “(Boryung Holdings) will continuously explore opportunities in the global market while coping with rapidly changing global environment by going nimbler than anyone else.”

He added that his company plans to find opportunities and proceed investments in the future digital health care industry, a combination of not only pharmaceutical industry but also IT technology and health care.

A view of Boryung Pharmaceutical Group headquarters in Changgyeonggung-ro, Jongno-gu, Seoul. (Photos: Boryung Pharmaceutical)