April 24, 2024

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[THE INVESTOR]  Samsung BioLogics CEO Kim Tae-han, who has been leading the firm since its establishment, is highly expected to retain his position, according to sources on Jan. 23.

“It is almost certain that Kim will extend his term as he was given the role of getting the company’s business off the ground as the first CEO,” a Samsung BioLogics official said. Kim’s term ends on March 31. 

Samsung BioLogics CEO Kim Tae-han

The contract drug manufacturing unit of Samsung Group has a long way to go to convince investors on its production capability and efficiency as it has yet to make profits since it was set up in 2011.

Despite being in the red, Kim’s push to list the biopharmaceutical company on the KOSPI market was sucessful.

Samsung BioLogics made a strong debut in November last year, raising 2.25 trillion won ($1.97 billion) in the country’s second-largest share sale.

Meanwhile, Samsung Group’s year-end reshuffle of executives and business units of its affiliates, including Samsung BioLogics, has been postponed as the conglomerate’s heir apparent Lee Jae-yong has been questioned by prosecutors over the firm’s alleged involvement in a presidential corruption scandal.

By Park Han-na (hnpark@heraldcorp.com)