A New Era for Imexpharm: Unveiling a Dynamic Leadership

The Board of Directors of Imexpharm Pharmaceutical JSC (IMP: HoSE) has recently announced changes to its senior management.

Specifically, the Board has accepted the resignation of Ms. Chun Chaerhan from her position as Chairman of the Board and has elected Mr. Sung Min Woo as the new Chairman for the 2023-2027 term. Mr. Woo is a non-executive member of the Board and holds a Bachelor of Science degree. He is currently the Vice Chairman of SK Inc., a subsidiary of SK Group, and heads the SK Office in Ho Chi Minh City.

In other news, Imexpharm has proposed a project to build a pharmaceutical complex in Cat Khanh, Dong Thap, with a planned area of 25,000 square meters. The project aims to diversify the company’s product portfolio, increase revenue and profits, and expand its export market. The total investment for this project is expected to be VND 1,495 billion, with an 80% loan-to-value ratio. Construction is scheduled to begin in Q3 2025, with completion and operation expected by the end of 2028 to Q1 2030.

Imexpharm, formerly known as Dong Thap Pharmaceutical Union Enterprise, was established in 1983 by the Dong Thap Department of Health and transformed into a joint-stock company in 2001. According to its Q3 2024 financial statements, SK Investment Vina III Pte. Ltd. is the largest shareholder, holding 47.69% of Imexpharm’s charter capital.

SK Investment Vina III is an investment arm of SK Group, a South Korean multinational conglomerate with a diverse range of businesses, including chemical industries, telecommunications, oil and gas, and energy. Based on revenue, SK Group is the third-largest chaebol in South Korea, after Samsung and Hyundai.

In addition to Imexpharm, SK Group has invested in another pharmaceutical company, Pharmacity, and is also a shareholder in the Vietnam Oil Corporation (PV Oil).