Chong Kun Dang Chairman Jang-Han Lee gifts stake to third generation... succession effort gains momentum

[Financial News] Chong Kun Dang Chairman Jang-Han Lee transferred his entire stake in Chong Kun Dang Pharmaceutical Corp. to his three children. The third-generation succession is expected to gain momentum as his eldest son, Lee Ju-won, head of the company's Development Strategy Center and a managing director, secured a relatively large stake.
Chong Kun Dang Pharmaceutical Corp. disclosed on the 8th that Chairman Lee had gifted his 1,318,807 shares in the company to his three children.
Lee, the center head, received 528,807 shares. As a result, his stake in Chong Kun Dang Pharmaceutical Corp. rose from 1.48% to 5.32%. His eldest daughter, Lee Ju-gyeong, and second daughter, Lee Ju-a, each received 395,000 shares, raising their respective stakes from 1.18% to 4.04%.
The gift is seen as a move to lay the groundwork for a third-generation succession within Chong Kun Dang's controlling family. Lee, the only one of the three children involved in management, received the largest increase in his stake, drawing attention to the role he may play in the company's future management.
However, this gift alone does not complete the succession across the overall ownership structure. Chong Kun Dang currently maintains an ownership structure of “Chairman Jang-Han Lee → CHONGKUNDANG HOLDINGS CORP. → Chong Kun Dang Pharmaceutical Corp.” Chairman Lee is the largest shareholder of CHONGKUNDANG HOLDINGS CORP., with a 33.73% stake.
Analysts say that a key part of the future succession will be how control of the holding company, CHONGKUNDANG HOLDINGS CORP., is transferred, in addition to the stake in Chong Kun Dang Pharmaceutical Corp. The gift can be seen as a move that makes the succession plan more visible while laying the groundwork for the process ahead.
The possibility of an expanded role for Lee, the center head, is also drawing attention alongside the management succession. Chong Kun Dang Pharmaceutical Corp. has recently focused on strengthening its new-drug research and development capabilities and continued investing in R&D.
Chong Kun Dang Pharmaceutical Corp. is developing the oral CETP inhibitor “CKD-508” as a treatment for dyslipidemia, as well as the c-MET-targeted antibody-drug conjugate (ADC) candidate “CKD-703” and the neurological disease treatment candidate “CKD-513.”
The company is also moving to build large-scale R&D infrastructure. Chong Kun Dang Pharmaceutical Corp. plans to invest about 400 billion won to build a bio-complex research and development campus in Siheung, Gyeonggi Province, with completion targeted for 2028.

[email protected] Sanghui Jeong Reporter