‘No regrets...happy to have served at Daiichi Sankyo Korea'

Dae Jung Kim retires as President of Daiichi Sankyo Korea

Led the Korean subsidiary for 15 years... served at one company for over 30 years.

Dae Jung Kim, President of Daiichi Sankyo Korea

“I have no regrets.

 

Although I have no specific plans set for the future, I would like to say it was a great honor to have served over 30 years at Daiichi Sankyo, and will cherish the memory forever.” Dae Jung Kim (63), President of Daiichi Sankyo Korea and the longest-serving multinational pharmaceutical company CEO in Korea, is leaving the industry.

 

Although the company headquarters proposed to extend his term, President Kim has respectfully expressed his intention to resign.

 

As successor, Daiichi Sankyo Korea recently appointed Jeong-tae Kim (49), the current vice president of Daiichi Sankyo Korea, as the new president.

 

Accordingly, President Dae Jung Kim will retire at the end of this month (March) and remain as an advisor to help the company for the time being.

 

“After dividing the employees into over 20 teams, I have been holding farewell parties with them for almost 2 months.

 

Having served such a long time, I wanted to personally meet each and every one of my employees and express my gratitude.

 

I will be leaving the beloved company after completing the overseas workshop that we haven’t been able to conduct due to COVID-19.” After being appointed as President of Daiichi Sankyo Korea in 2010, President Kim led the Korean subsidiary for 15 years.

 

Also, President Kim had been working at Daiichi Pharmaceutical before the company merged with Sankyo in 2007.

 

Kim joined Daiichi Pharmaceutical in 1991.

 

After leaving the company to acquire an MBA, he returned to work in the US office and Japanese headquarters and led the M&A process of the Korean subsidiary.

 

Although Daiichi was not his first place of work, Kim had been with Daiichi Sankyo for nearly 30 years.

 

Kim said, “During my term, I worked to stay true to principle.

 

I believe the role of multinational pharmaceutical companies in Korea is pretty clear.

 

Rather than conduct research or manufacture products, the companies need to supply the products that they have already developed to the Korean patients.

 

Based on this belief, I worked to deliver accurate instructions on how to use the product we introduced to Korea.

 

We thoroughly monitored variables that could occur on-site, unlike in the clinical setting, and focused on improving the knowledge of our employees to ensure accurate information delivery.” While reminiscing, Kim chose the patent term expiry of ‘Olmetec’ as his most difficult period.

 

“At the time, sales of Olmetec fell by nearly 20% due to the inflow of its generics and the price cut that followed.

 

So we decided to take on a ‘choose and focus’ strategy and set the slogan ‘to become reborn as a cardiology treatment specialist,' based on which we discontinued the domestic promotional activity for our antibacterial agent ‘Cravit.' Fortunately, the strategy showed an effect.

 

This decision was solely made by the Korean subsidiary, and we were the only one in the Asia-Pacific region to make such a decision.’ “As a result, we accumulated knowledge and rapport in cardiology, which led to the success of the fourth new oral anticoagulant (NOAC), ‘Lixiana.’ Of course, factors such as the performance of our partners also contributed to the success, so it was a result of everyone's efforts." Immediately after his retirement, President Kim plans to trek the 750km Haeparang trail alone for 50 days.

 

Kim made time for such solitary walks at every turning point of his life.

 

“I only have gratitude and thanks to express to my executives and employees at Daiichi Sankyo Korea.

 

As a leader, I have long been in a position where I had to set a direction and lead the people forward.

 

Having experienced the joys and sorrows together, I want to express thanks to the many that believed in me and followed me through difficult times.

 

I owe my safe retirement to my executives and employees."