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Biopharmaceutical stock owners to receive big dividends

All Headlines 09:12 March 07, 2018

SEOUL, March 7 (Yonhap) -- The biggest shareholders of South Korean pharmaceutical and bio companies stand to receive large dividends thanks to their strong performances last year, data showed Wednesday.

A total of 10 owners of biopharmaceutical companies will receive 1 billion won (US$930,000) or more in dividends this year, according to Chaebul.com, which tracks family-controlled conglomerates in South Korea.

Lim Sung-ki, chairman of leading pharmaceuticals firm Hanmi Pharm Co., is expected to post the largest dividend income of 4.3 billion won through Hanmi Science, the holding company for Hanmi Pharm.

Hanmi Science plans to pay out a cash dividend of 200 won per share, with Lim owning a 34.2 percent stake in the company, around 2.13 million shares.

A file photo of Lim Sung-ki, chairman of leading pharmaceuticals firm Hanmi Pharm Co. (Yonhap)

Lim was trailed by Chung Yong-ji of Caregen Co. with 4.1 billion won. Caregen is a bio firm that manufactures pharmaceuticals and cosmetics. In December, Caregen announced a cash dividend of 600 won per share. Chung owns 63 percent of the firm.

Kang Jeong-seok, chairman of Dong-A Socio Holdings Co., came next with 3.1 billion won in dividends from its two subsidiaries -- Dong-A ST and ST Farm.

The remainder owners include Rhee Jang-han, chairman of Chong Kun Dang Pharmaceutical Corp.; Yoon Sung-tae, vice chairman of Huons Global; and Huh Il-sup, chief executive of Green Cross Corp.
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