Paljinhoe, a representative meeting of pharmaceutical industry elders, has ended its 48-year partnership.
Paljinhoe is a friendly gathering founded in 1975 by eight owners and executives of major domestic pharmaceutical companies with the intention of “let’s go forward together as eight people”.
Shin-ho Kang, Chairman of Dong-A Socio Holdings, Seung-ho Kim, Chairman of Boryung, Jong-ho Lee, Honorary Chairman of JW Pharmaceutical, Won-young Yoon, Chairman of Ildong Pharmaceutical, Young-shik Yoo, Former Chairman of Dongshin Pharmaceutical, and now late Young-hwan Yoon, president of Daewoong Pharmaceutical, Jun-seon Eo, president of Anguk Pharmaceutical, and Eok Heo, president of Sam-a Pharmaceutical are in high spirits.
1975, when Paljinhoe was launched, was a time when the challenge and growth of the pharmaceutical industry stood out despite triple setbacks, such as the slowdown in growth caused by the oil crisis, high prices and the deteriorating balance of international payments. The pharmaceutical industry exhibited a high average annual growth rate of 34.7% from 1971 to 1975, and such rapid growth was the product of sound management and competition in product development by major pharmaceutical companies, including Dong-A Pharmaceutical.
Since then, it has been assessed that he has led the growth of the industry by actively engaging in aggressive R&D and overseas market development under the leadership of the first generation owners of the pharmaceutical companies participating in Paljinhoe.
Paljinhoe held their last meeting on the 9th at the Shilla Hotel in Jangchung-dong, Seoul, concluding their 48-year activities.
Presidents Kim Seung-ho, Yoon Won-young and Honorary President Lee Jong-ho had lunch with Won Hee-mok, president of the Korea Pharmaceutical Bio Association, and donated the remaining quotas to the association to be used for the development of the industry biopharmaceutical.
During Paljinhoe’s 48-year history, President Kang Shin-ho, Kim Seong-ho and Lee Jong-ho served as presidents of the Korea Pharmaceutical Association one by one, devoting themselves to the development of the industry. However, as the members, who were in their 30s and 40s at the time of formation, aged over time, members died or went out of business due to health problems, and the meeting was eventually concluded.
Boryeong chairman Kim Seung-ho, who became Paljinhoe’s last secretary, said, “It has been 48 years since Paljinhoe ran for the pharmaceutical industry.”
In response, President Won Hee-mok said, “The history and living testimony of the Korean pharmaceutical industry, Paljinhoe’s footsteps and their affection for the industry, have been a great resonance and inspiration for the youth of the pharmaceutical industry”. we do our best for you,” he said.
