Pharma and bio firms embrace co-CEO model, refocus on new modalities

CEO Shin Yoo-yeol

South Korea’s pharmaceutical and biotechnology sectors are undergoing sweeping leadership changes as the year draws to a close, with new co-CEO systems, young next-generation owners, and female executives stepping into key management roles. Companies are also reorganizing around new growth engines such as advanced modalities and global expansion.

According to industry sources on Sunday, the most notable trend in this year’s year-end reshuffle is the spread of co-CEO structures. Lotte Biologics drew particular attention as Shin Yoo-yeol, the eldest son of Lotte Group Chairman Shin Dong-bin, was appointed co-CEO, marking his full-scale debut in corporate management. The company is simultaneously expanding its U.S. plant and global CDMO network, and analysts see the move as a bold bet to inject younger leadership at a critical growth stage.

JW Pharmaceutical also shifted from a single-CEO system under Shin Young-seop to a dual leadership model with Ham Eun-kyung as co-CEO. Shin, known for his strength in sales and marketing, and Ham, with deep R&D experience, are expected to enhance management accountability by dividing their responsibilities. “This decision aims to boost organizational expertise in both sales and R&D, which are equally critical now,” a JW Pharmaceutical official said.

At Kwangdong Pharmaceutical, Chairman Choi Sung-won will oversee strategy and new businesses, while President Park Sang-young manages operations. The new two-top structure is seen as an effort to clarify responsibilities across its diverse portfolio spanning pharmaceuticals, beverages, and healthcare.

Samsung Biologics’ youngest female executives.

Another major shift is the rise of female leadership. In an industry long dominated by male executives, several companies appointed women to high-ranking posts for the first time. Samsung Biologics named two of its youngest-ever female executives — Kim Hee-jeong, senior vice president, and Ahn So-yeon, managing director — in their 30s and 40s. GC Holdings also brought in Park So-young as its new head of strategic planning, tasking her with reshaping the group’s long-term portfolio in bio, cell therapy, and digital health.

At Ildong Pharmaceutical Group, Park Ha-young was promoted to CEO of Ildong Household & Healthcare, becoming the company’s first-ever female chief executive. Park is known as a hands-on leader with extensive experience across academic, clinical, and brand strategy functions in healthcare.

Meanwhile, bio firms are stepping up organizational restructuring around new modalities and future growth businesses. SK Biopharm established a new Radiopharmaceutical Therapy (RPT) Division and appointed Chey Yoon-chung, the eldest daughter of SK Group’s Chairman Chey Tae-won, as head of corporate strategy. Her division will oversee mid-to-long-term strategy, portfolio management, and global expansion.

JW Group is also pivoting from traditional small-molecule drugs to gene and cell therapy research. Following the resignation of its former CTO, Ham Eun-kyung — now co-CEO — will concurrently lead the group’s the group‘s novel drug research center. JW also hired Kim Sun-young, former CEO of Helixmith, as senior R&BD advisor to strengthen its advanced therapy pipeline.

The wave of leadership changes comes as pressure mounts on R&D chiefs to deliver results. Executives at several firms, including Yuhan Corporation and Dong-A ST, recently stepped down amid heightened performance demands.

Industry observers say this round of year-end reshuffles reflects more than personnel adjustments — it signals a structural transition in the Korean pharmaceutical industry toward next-generation modalities and global competitiveness.