The company approves key changes and unveils ambitious growth plans at 14th shareholders' meeting
Samsung Biologics held its 14th annual general meeting of shareholders on Friday at Songdo Convensia in Incheon. The meeting, which lasted approximately 30 minutes, saw the participation of over 1,700 shareholders both in person and online, with 93.7 percent of the shares with voting rights represented at the meeting.
To facilitate voting for those unable to attend, the company conducted electronic voting from March 4 to 13.
Samsung Biologics CEO John Rim presents the company's future vision during the company's annual general meeting held at Songdo ConvensiA in Songdo, Incheon, Friday. (Credit: Samsung Biologics)
Samsung Biologics CEO John Rim presents the company's future vision during the company's annual general meeting held at Songdo ConvensiA in Songdo, Incheon, Friday. (Credit: Samsung Biologics)
During the meeting, shareholders approved six agenda items, including financial statement approval, amendments to the company’s articles of incorporation, the appointment of internal and external directors, and approval of director remuneration limits.
Ryu Seung-ho, Executive Vice President of Samsung Biologics Business Support Center, was appointed as an executive director, while Lee Ho-seung, former policy director at the Presidential Office under the former Moon Jae-in administration, was newly appointed as an independent director and audit committee member. Lee Chang-woo, Professor Emeritus at Seoul National University Business School, was reappointed as an independent director and chair of the audit committee.
Samsung Biologics CEO John Rim emphasized the company’s ambitious plans for growth.
"We aim to make this year the foundation for a new leap forward,” Rim said. “Our fifth plant, marking the beginning of our second Bio Campus, will be completed in April."
He also highlighted the company's efforts to expand its portfolio and global footprint.
“Samsung Biologics has been aggressively expanding its production capacity to maintain its position as a global leader,” he said. “With the completion of its fifth plant next month, the company will have a total production capacity of 784,000 liters, further solidifying its status as the world’s largest biologics manufacturer.”
Rim also revealed that the company is planning to break ground on a sixth plant as part of its long-term expansion strategy.
Additionally, the company is expanding its portfolio beyond traditional monoclonal antibodies and mRNA-based therapies.
"With the activation of our dedicated facility for antibody-drug conjugates (ADC), our portfolio will broaden further,” Rim said. “We are also actively exploring investments in new modalities such as cell and gene therapies."
Samsung Biologics is also working to expand its global footprint.
“We currently operate business offices in New Jersey and Boston, providing close support to clients,” Rim said. “The company recently established a Tokyo sales office and is looking to further strengthen its presence in key overseas markets.”
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Lee Han-soo corea022@docdocdoc.co.kr
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