Samsung Biologics shareholders approve third term for CEO John Rim, boosting CDMO push

Samsung Biologics shareholders on March 20 approved a third term for CEO John Rim, extending his leadership through March 2029 as the company accelerates its contract development and manufacturing organization, or CDMO, strategy.

The company said the meeting, held at Songdo Convensia in Incheon’s Yeonsu district, passed the agenda item to reappoint Rim as an inside director as proposed.

Marking Samsung Biologics’ 15th anniversary, Rim said the company would continue efforts to raise shareholder value by enhancing corporate value and to contribute to South Korea’s bio industry and economic development.

He said the company carried out structural changes and strategic investments for future growth, adding that it completed a spin-off to establish a governance structure that allows greater focus on the CDMO business, improves transparency and clarifies a shift to a pure-play CDMO model.

Samsung Biologics said it will speed up construction of a large-scale CDMO production hub centered on Songdo. With plants 1 through 4 and the recent completion of plant 5, it has secured capacity of 785,000 liters. It is preparing plant 6, with 180,000 liters of capacity, targeting completion in 2027. Once finished, total capacity would reach 965,000 liters. The company also plans to diversify its global supply chain through its Rockville, Maryland, plant with 60,000 liters of capacity.

The expansion and increased orders have been reflected in results. Samsung Biologics said it has posted record performance for three consecutive years since 2022 and became the first company in South Korea’s pharmaceutical and biotech sector to surpass 4 trillion won in annual revenue.

After operating profit exceeded 1 trillion won in 2023, the company said it nearly doubled that figure within two years, posting 2025 revenue of 4.557 trillion won and operating profit of 2.0692 trillion won. It aims to top 5 trillion won in revenue this year, the company said.

Rim said that during his next three-year term the company plans to expand global production bases, diversify its business portfolio and pursue digital innovation to strengthen its position as a top-tier global bio company.

Also approved at the meeting were the reappointment of Vice President Noh Gyun, head of the EPCV Center, and the appointment of Kim Jeong-yeon, a professor at Ewha Womans University Law School, as an outside director and audit committee member. Shareholders also passed amendments to the articles of incorporation reflecting revisions to the Commercial Act, including mandatory cumulative voting, and approved financial statements for fiscal 2025, the company said.

Separately, Samsung Epis Holdings, which was spun off from Samsung Biologics in November and serves as a holding company leading the group’s biosimilar business, held its first shareholders meeting on March 20.

At the meeting at Songdo Convensia, shareholders approved six agenda items, including approval of the company’s first financial statements, appointments of inside directors and audit committee members, and the cap on directors’ compensation, the company said.

Samsung Epis Holdings also appointed Vice President Kim Hyeong-jun, who previously served as head of the management support office at Samsung Bioepis, as a new inside director.

Kim Gyeong-a, president of Samsung Epis Holdings, said the company will work to enhance shareholder value by building a long-term growth foundation, including expanding its biosimilar product portfolio and broadening into new drug development.