South Korea’s Hyundai Pharm said Tuesday it has promoted Lee Sang-joon, grandson of the company’s late founder Lee Kyu-suk, as president of research and new drug development.

Lee Sang-joon, 41, assumed the new post during a ceremony held in Seoul on Monday. As the eldest son of Hyundai Pharm’s incumbent Chairman Lee Han-koo, he is a third-generation member of the company’s founding family.


Lee Sang-joon joined Hyundai Pharm in 2003 and has worked as the head of the company’s future strategy planning office as well as CEO of Hyundai Pharm’s affiliate Biopharmartis.

“I will do my best to help Hyundai Pharm develop unique products and new drugs that can be competitive globally and strengthen its partnerships with local and global partners, to drive new growth,” Lee said.

Established in 1965, Hyundai Pharm is a Seoul-based drugmaker that sells finished pharmaceutical products. The Kospi-traded company is best known as the maker of health drink Miero Fiber.

By Sohn Ji-young (jys@heraldcorp.com)