LG Chem names new CEO for its biotech subsidiary

LG Chem, the nation’s largest chemical company, announced on Wednesday that the company has appointed a new CEO for its biotechnology subsidiary Farm Hannong. Kim Yong-whan will take the helm starting July 1.

The chemical company announced last year that its future businesses will be centered on three key words: energy, water and bio. While the company is established in energy and water businesses, the bio sector is a relatively new approach for the company.

Scouting biotechnology specialist Kim to take over is seen as a move to speed up its development in the biotechnology sector.

Kim earned a master’s degree from Seoul National University’s agriculture department and has built his career in global agrochemical company as the head of Syngenta. He also served as a distinguished professor at Jeju National University’s Life Sciences and Biotechnology Department. Since this year, he has also been heading the Korean Society of Pesticide Science, which owns well-established networks of domestic bio industry.

“We expect that Kim will contribute to stabilize the management of Farm Hannong and help the company gain a competitive edge in the global bio industry,” a spokesman said.