Gifted in Marketing
Daewon Pharmaceutical promoted Baek In-hwan, head of the marketing division, to president in charge of general management on Jan. 1.
After majoring in economics at Brandeis University in the United States, Baek joined Daewon Pharmaceutical in 2011 as a deputy head of the Strategic Planning Office. Then, he worked at the Overseas Business Division, the Health Care Division, and the New Growth Promotion Team at the company.
Baek took the lead in driving the growth of Daewon Pharmaceutical by leading the Marketing Division and increased the number of products with annual sales of over 10 billion won from only one at the time of his joining the company to 10. After Daewon Pharmaceutical advanced into the over-the-counter (OTC) drug market, Baek grew Coldaewon into a leading cold medicine with annual sales of 30 billion won.
“We will grow Daewon Pharmaceutical into a company with global competitiveness by gathering internal and external capabilities,” the new president said. “We will realize our company’s second takeoff through global investments and new business development.”
Meanwhile, Daewon Pharmaceutical's stock price is strong as its anti-diarrheal drug Fotagel Suspension took first place in the Chinese diarrhea remedy market amid reports that a new COVID variant causes abdominal pain and diarrhea.