Ilsung IS: Pioneering a New Leadership Model for the Future
Ilsung IS, a 71-year-old pharmaceutical company formerly known as Ilsung New Drug, is breaking tradition by separating ownership from management. This mid-sized company is openly recruiting professional managers to lead its future, shifting from an owner-centered approach to a smart, innovation-driven leadership model.
Chairman Yoon Seok-geun, who has been part of the pharmaceutical industry for over four decades, is spearheading this change. Under his leadership, the company achieved a tenfold growth and earned top export awards for four consecutive years. He emphasizes that now is the perfect time to implement a "smart management model" bolstered by AI integration.
The Challenge of Separating Ownership and Management
For a second-generation family business, separating ownership from management wasn’t an easy decision. Yoon’s inspiration dates back to the early 1990s when he encountered the philosophy of this model during a visit to the Soviet Union. He saw it as the best way to ensure sustainable growth, especially when passing the company to the next generation might not be efficient due to taxation or lack of interest and ability.
Essential Competencies for Future Managers
Ilsung IS seeks managers who combine ownership mindset, leadership, strong communication, and AI proficiency. The ideal candidates will use AI not just as a tool but as a means to drive rapid decision-making and innovative problem-solving. Leadership that embraces change and demonstrates a sense of ownership is highly valued across all sectors—from pharmaceuticals to real estate development and asset management.
The Role of AI in Shaping the Future
Artificial intelligence is becoming a fundamental language across industries. In pharmaceuticals, AI’s ability to analyze vast datasets accelerates drug discovery, clinical trials, and patient monitoring. At Ilsung IS, AI is viewed as a cultural shift rather than merely a technological upgrade, requiring leaders who understand and integrate it deeply into their strategies.
Integrating AI in Management: The AOA System
Earlier this year, Ilsung IS introduced the “AOA” system—an AI-driven management framework aimed at streamlining decision-making. AI handles the majority of business decisions, reducing reliance on top executives and empowering team leaders. For sensitive personnel matters, decisions are distributed: 10% by the company, 15% by division heads, and 75% by team leaders, all supported by AI.
Expanding Ventures into Asset Management and Real Estate
- Asset Management: Focuses on pharmaceutical and bio R&D investments backed by government funds. The company aims to restore investor confidence by selecting high-potential bio companies and systematizing investment processes.
- Real Estate Development: Targets senior care facilities, combining pharmaceutical expertise with real estate to develop innovative nursing homes that integrate AI for smarter care solutions.
Advancing New Drug Development
Ilsung IS holds a significant stake in a company developing treatment for calcific aortic valve disease (CAVD), a condition with rising patient numbers and no effective treatment. Successful development could open opportunities in global markets like the US and Europe through partnerships with major pharmaceutical firms.
Commitment to Social Responsibility
The company emphasizes welfare for executives and employees to foster a strong sense of ownership. Ilsung IS focuses on creating profitable businesses that also contribute positively to society, sharing successes and learning from failures along the way.
Looking Ahead: The 2030 Vision
By 2030, Ilsung IS plans to establish new core businesses and a revamped management system driven by professional managers. The goal is steady, profit-oriented growth across all sectors, supported by continuous talent acquisition to ensure responsible and sustainable leadership.
About Chairman Yoon Seok-geun
- Born in Seoul, 1956
- Alumnus of Dongsung High School and New York University (Business Administration)
- Joined Ilsung New Drug in 1984
- President of Ilsung New Drug (2001)
- Acting President and Chairman of the Korea Pharmaceutical Association
- Vice Chairman of Ilsung New Drug (2015)
- Chairman of Ilsung IS since 2022
Ilsung IS’s innovative approach offers a practical example of how separating ownership and management, combined with AI-driven leadership, can create a resilient company prepared for the future.
For managers interested in expanding their AI skills to lead such transformations, exploring targeted AI courses can be valuable. Platforms like Complete AI Training offer resources tailored to leadership and management roles.
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