Green Cross President to receive highest service merit

Green Cross Corp.
President Cho Soon-tae

By Lee Hyo-sik

Green Cross Corp. President Cho Soon-tae will receive the highest award given to entrepreneurs during the 51st Trade Day ceremony Friday, the pharmaceutical company said Thursday.

Cho will be awarded with the Gold Tower Order of Industrial Service Merit for his role in nurturing Green Cross as a globally competitive drug maker, a company spokesman said. The award ceremony will be held at the COEX in Samseong-dong, southern Seoul, Friday.

"Cho, who became the CEO in 2009, is credited with transforming Green Cross into Korea's leading pharmaceutical firm,'' the spokesman said. "The CEO has placed top priority on fostering the company's vaccine and bio-medicine businesses over the past five years. As a result, Green Cross has become a global drug maker."

Most local pharmaceutical firms are domestic market-oriented, but under Cho's leadership, the company has sought to expand its presence overseas. Among domestic drug makers, Green Cross generates the largest sales abroad.

From July 2013 through June 2014, the firm exported products worth $168 million, up 74 percent from the same period a year earlier, the largest overseas sales among local pharmaceutical firms.

Green Cross will also receive an award during Friday's ceremony for achieving more than $100 million worth of exports.

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