Kwang Dong president promoted to vice chairman
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Choi Sung-won
Choi Sung-won, president and CEO of Kwang Dong Pharmaceutical Co., was promoted to vice chairman, the company said Monday.
Choi, 45, has served as CEO of Kwang Dong since July 2013 when his father Choi Soo-boo, founder and chairman of the drug manufacturer, died at the age of 77.
He plans to transform the company into Korea’s leading healthcare provider, with the goal of generating 1 trillion won ($910 million) in sales by 2020.
Kwang Dong, established in 1963, has been well known for its brand names such as Woo Whang Chong Shim Won (civet), Ssanghwa Tang, Vita 500 and Corn Silk Tea.
The firm’s net profit jumped 59.4 percent year-on-year to 35 billion won last year, while its sales increased 11.5 percent to 522 billion won.