OCI Holdings Chairman Lee Woo-hyun has reaffirmed the company's strategy to play a minimal role in the management of Hanmi Group following the upcoming integration with Hanmi Science.

During an investor conference call on Wednesday, Chairman Lee stated that OCI Holdings intends to support Hanmi Group primarily through financial backing for new drug development and assistance in expanding into international markets rather than by actively participating in day-to-day operations.

"Even after the integration of the two companies, OCI Holdings sees limited immediate actions it can take to manage Hanmi Science," Lee said. He highlighted the importance of supporting the current management team to continue leading the company to greater success.

Lee stressed that OCI Holdings' involvement is expected to be confined to aiding Hanmi's expansion into foreign markets and providing financial support for new drug development projects.

"OCI Holdings generates 80 percent of its revenue from overseas markets and has a DNA for pioneering new international markets," Lee said, expressing confidence that OCI could guide Hanmi's product portfolio toward successful global expansion.

Regarding the continuous investment required for new drug development, Lee commented, "Hanmi Science has always had strong cash flow, but with the added financial strength of OCI Holdings, it can grow even faster."

Lee also stressed that the integration process will be concluded soon.

"The integration should be successfully completed by March or April," Lee said. "Once it is done, the management teams of both companies will discuss specific areas for collaboration and develop a long-term growth strategy."

If the integration proceeds smoothly, the company expects to announce a new corporate identity (CI) that reflects the vision of both companies next year," Lee projected.

The integration of OCI Group and Hanmi Pharmaceutical Group, facilitated through contributions in kind and a rights issue, positions OCI Holdings as the largest shareholder of Hanmi Science, with Hanmi Pharmaceutical's second-generation president, Lim Ju-hyun, becoming the largest individual shareholder of OCI Holdings.

During the conference call, Lee also touched on the management direction for Bukwang Pharmaceutical, acquired by OCI Holdings in 2021, focusing on improving financial health through more active management, especially after a period of performance decline post-acquisition.

"Since acquiring Bukwang Pharmaceutical, we have transitioned from a passive to an active management approach, focusing on reducing bad sales receivables and inventory," he said. "Even if it means a temporary reduction in sales, we are restructuring to improve financial health."

However, the integration has faced opposition, including injunctions against the rights issue from Hanmi Pharm President Lim Jong-yoon and Hanmi Fine Chemical President Lim Jong-hoon, the two sons of the pharmaceutical company's founder, the late Lim Sung-ki.