In August 2011, Bukwang Pharmaceuticals Co., Ltd. (Co-presidents and CEOs Ms. Hee-Won Yoo, PhD. and Mr. Sang-Hoon Kim) distributed shares of Anterogen Co., Ltd., Bukwang’s sister company to all employees working for Bukwang at that time, free of charge. Among the shares owned by Bukwang, total of 400,000 shares were distributed equally to the employees, 1,000 and 715 shares per person. The amount equals to about KRW 8 billion at current value. Bukwang’s then employees could gain great benefits due to the shares distributed by the company.
Anterogen, a bio-venture company developing cell therapies using stem cells, is preparing for an IPO. As of June, Anterogen’s shares are priced at KRW 20,000 per share in the curb market.
Bukwang also distributed 10% of its total shares to its employees free of charge when it became listed in 1988.
Bukwang recognizes that its employees are not simply workers on contract but partners for the company. Bukwang wishes to form a coexisting relationship with its employees with the belief that a company grows along with its employees. In fact, Bukwang is the only pharmaceutical company which has never fired any employees since inception, even during the economic recession in Korea when several pharmaceutical companies underwent restructuring. Bukwang is known as a medium-sized company whose employees have great affection for the company and with average years of service of 12.9 years.