Im Jong-hoon offloads 1.7 million shares to private equity fund to raise cash for inheritance tax; owner family's combined friendly stake reaches about 41%, well ahead of rival shareholder

Hanmi Pharm headquarters. [Hanmi Pharm]
Hanmi Pharm headquarters. [Hanmi Pharm]

Im Jong-hoon, chief executive of Hanmi Science, the holding company of Hanmi Pharm Group, has sold part of his stake and publicly declared his commitment to carrying on the founding management philosophy alongside his mother, Chairwoman Song Young-sook, and his sister, Vice Chairwoman Im Joo-hyun.

The move comes as market concerns had been mounting over governance risk surrounding the controlling shareholder bloc and speculation about a rival stake acquisition. Im's decision puts family unity and governance stability at the forefront.

Im disclosed Wednesday that he plans to sell 1,709,788 common shares of Hanmi Science — equivalent to a 2.50% stake — out of the 3,483,808 shares (5.09%) he holds, through an off-market transaction. The buyer is the NowIB No. 22 Fund, and the contract was signed June 29. The agreed price per share is 48,000 won ($31), bringing the total transaction value to 82.07 billion won.

With Im now aligned with his mother and sister, the owner family's combined stake in Hanmi Science — including holdings by the Lim Sung-ki Foundation (3.07%) and the Gahyeon Cultural Foundation (3.02%) — stands at 31.05%. Adding the 9.81% held by La Défense (Killington LLC), a friendly shareholder on the mother-and-sister side, brings total friendly holdings to about 41%, well ahead of the roughly 30% held by Hanyang Precision Chairman Shin Dong-kook, including his Hanyang Precision stake.

Im released a separate statement alongside the disclosure, expressing strong support for family unity and governance stability. "Together with my mother, Chairwoman Song Young-sook, and my sister, Vice Chairwoman Im Joo-hyun, I will do everything I can to contribute to the company's growth and carry on my father's dream of serving the nation through pharmaceuticals," he said. "I hope my decision helps Hanmi grow in a way that is true to itself and contributes to stabilizing the group's governance."

In February, Shin's side had reportedly sought to raise about 300 billion won through securities firms and other channels in an attempt to buy out Im's entire stake. Im ultimately rejected the offer, and no funds were raised and no share transaction took place. Rather than be drawn into a unilateral fundraising effort or a share battle by the largest shareholder, Im reaffirmed a united front with his mother and sister and chose to resolve his liquidity needs directly through a transparent off-market sale to a private equity fund.

"This was a decision I reached after careful deliberation, with the aim of most genuinely continuing my father's — Hanmi Group founder and late Chairman Lim Sung-ki's — management philosophy and vision," Im said. "I hope this becomes an opportunity to put unnecessary controversy to rest and to build an environment where we can focus on management that enhances corporate value."


silverpaper@heraldcorp.com