Ilyang Pharmaceutical’s largest shareholder position has shifted from Chairman Jung Do-eon to his eldest son, CEO and President Jung Yoo-seok. With Jung—who already leads company management as a third-generation owner—now holding the top shareholder status, the group’s succession plan is effectively complete.
Ilyang Pharmaceutical announced on July 30 that its largest shareholder changed after Chairman Jung Do-eon gifted 1.7 million common shares to CEO Jung Yoo-seok.
Following the transfer, CEO Jung’s holdings rose from 808,777 shares to 2,508,777 shares, raising his stake to 12.85%. Chairman Jung Do-eon’s holdings decreased from 4,167,844 shares to 2,467,844 shares, bringing his stake down to 12.64%.
Although the gap between their ownership stakes is just 0.21 percentage points, the gift carries significant weight by officially transferring the top shareholder position from father to son.
From CEO to largest shareholder: final piece of third-generation succession falls into place
CEO Jung Yoo-seok is the eldest grandson of the late Honorary Chairman Jung Hyung-sik, the company’s founder, and the eldest son of Chairman Jung Do-eon.
The succession has unfolded in structured stages. Jung was appointed CEO and president of Ilyang Pharmaceutical in April 2023, initially co-leading the company alongside Vice Chairman and CEO Kim Dong-yeon before assuming sole executive leadership as CEO in November 2025.
Having first established himself at the helm of management, Jung has now secured the top shareholder position as well. With both executive authority and primary ownership in Jung’s hands, Ilyang Pharmaceutical’s third-generation, owner-led management structure is firmly entrenched.
The transaction fulfilled a previously disclosed gift agreement. On June 30, Chairman Jung Do-eon decided to gift 1.7 million common shares to CEO Jung, designating July 30 as the transfer date. With the transaction executed as scheduled, CEO Jung narrowly surpassed Chairman Jung to become the company's largest individual shareholder.
Founding family stake remains unchanged at 26.37%
Although the top individual shareholder changed as a result of the gift, the combined equity held by the largest shareholder and related parties remains unchanged.
Following the transfer, CEO Jung Yoo-seok holds 2,508,777 shares (12.85%), while Chairman Jung Do-eon holds 2,467,844 shares (12.64%). Additional family holdings include Jung Jae-hyung with 66,693 shares, Jung Hee-seok with 64,706 shares, Jung Jae-hoon with 25,011 shares, Jung Se-oh with 5,848 shares, Jung Young-joon with 11,694 shares, and Jung Ji-in with 100 shares.
Total shares held by the largest shareholder and affiliated parties stand at 5,150,673 shares, representing a 26.37% stake—identical to the level prior to the gift.
Consequently, the shift in largest shareholder does not reflect a transfer of control to external parties. Rather, it consolidates ownership within the founding family under CEO Jung Yoo-seok.
Rapid transition: CEO in 2023, sole CEO in 2025, top shareholder in 2026
Jung’s corporate succession has moved rapidly over the past three years.
He assumed operational leadership upon becoming CEO and president in 2023 and stepped into sole executive management in 2025. With the largest-shareholder transition completed this year, a Jung-centered management and ownership structure is fully in place.
Ilyang Pharmaceutical is a domestic drugmaker known for developing key proprietary medicines, including the anti-ulcer medication Noltec and Supect, a treatment for chronic myeloid leukemia (CML). The company is currently advancing next-generation potassium-competitive acid blocker (P-CAB) candidates while expanding its vaccine business.
