“I feel devastated”… Apology to shareholders
“Boss, I hope you stop being considerate of yourself.”
(Seoul = Newsis) Song Young-sook, Chairman of Hanmi Pharmaceutical Group (Photo = Provided by Hanmi Pharmaceutical Group) 2024.03.10. (email protected) *Resale and database prohibited
(Seoul = Newsis) Reporter Hwang Jae-hee = Hanmi Pharmaceutical Group Chairman Song Young-sook, who was accused by both of her sons, apologized to shareholders, saying, “It was my fault for not raising my sons well.”
Chairman Song issued a statement on the evening of the 15th and said, “Today, the eldest son reported his mother, and the second son also reported his mother and made her a defaulter on her debt. It is devastating.” “I apologize to the shareholders for my mistake in not raising my son well,” he said.
However, he explained that the facts need to be sorted out.
Chairman Song said, “The default is not true,” and “The repayment deadline has not yet arrived, and we are still discussing the method and timing of repayment, so we unilaterally disclosed this to the media first.”
He added, “I paid a portion of the children’s share of the inheritance tax imposed on the family, and my second son helped me with part of the payment after learning of my situation, which was temporarily strained due to funds that should have been used for personal use.”
He said, “It is devastating that even though he inherited property (shares) worth hundreds of billions of won, he is humiliating my mother in front of shareholders because of his own circumstances.” He added, “I want to ask myself what is left of attacking me, my mother, like this. “I hope your two sons will take care of themselves,” he said.
Chairman Song said, “It’s not that I don’t want to explain this situation in detail to shareholders, but I can’t show my ugly side by disclosing even the most personal details of my family internally and externally.” “I sincerely hope that we can only gather our hearts for the development of the group,” he said.
Earlier on this day, the two brothers who are in a dispute with Chairman Song over management rights revealed that they had filed a complaint against Chairman Song.
On the 13th, Corey Group CEO Han Seong-joon reported Chairman Song and Hanmi Pharmaceutical CEO Park Jae-hyun to Seoul Gangnam Police Station on charges of ‘violation of the Act on the Aggravated Punishment of Specific Economic Crimes’ (breach of trust). Corey Group is a company in which Lim Jong-yoon, an executive director at Hanmi Science, a member of the brothers’ side, is the largest shareholder.
Representative Han took issue with the fact that Representative Park made a donation to the Gahyeon Cultural Foundation, founded by Chairman Song in 2002, without the approval or resolution of the board of directors.
According to Article 393 (1) of the Commercial Act, the company’s business operations related to the disposal and transfer of important assets must be in accordance with the resolution of the board of directors. However, under Chairman Song’s instructions, Hanmi Pharmaceutical donated 11.9 billion won over the past three years to the Gahyeon Cultural Foundation without board approval. It is said that damage was caused to .
Lim Jong-hoon, CEO of Hanmi Science, the second son, is a member of the three-party alliance, including Chairman Song, his younger brother Lim Joo-hyun, Vice Chairman of Hanmi Pharmaceutical Group, and Hanyang Precision Chairman Shin Dong-guk, who joined hands with them. A complaint was filed for obstruction of business.
It was explained that a three-party alliance had colluded with a proxy voting agency to steal the company’s logo, and that cases of encouraging shareholders to make wrong decisions with false information were confirmed, so criminal charges were filed.
He also claimed that he sold 1.05 million shares of Hanmi Science stock in an over-the-counter transaction to raise funds for inheritance tax, and that this occurred because his mother, Chairman Song, failed to repay his debt.
CEO Lim said, “From 2022 to this year, Chairman Song lent me about 29.6 billion won, which I had raised by taking my children’s stocks as collateral,” and added, “After that, Chairman Song kept delaying the repayment, saying he would pay it back when he had money.” “Recently, they formed a three-party alliance and sold some shares to Chairman Shin Dong-guk, generating a large amount of funds, but they ignored requests for repayment,” he said.
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