ChoA Pharmaceutical is rolling out a growth strategy as it works to enhance its corporate value.
At an extraordinary shareholders meeting held Monday, the company approved a share consolidation as proposed, combining its current shares with a face value of 500 won into new shares with a face value of 2,500 won.
The company said it would focus on building a foundation for growth through new business development, retail channel diversification and brand value enhancement.
ChoA is also expanding its exports of over-the-counter drugs and health supplements. The company has been exporting products to 24 countries, including China, Vietnam, Indonesia and the United Arab Emirates. It has recently stepped up its push into emerging markets in Africa and Latin America — regions with high rates of iron-deficiency anemia — led by its iron supplements New Hem Syrup and New Hem Forte Syrup.
The company's children's nutritional supplement Jalcton has also surpassed cumulative sales of 10.45 million units as of late June, cementing its position as a leading brand in the market.
"We are strengthening the position of our key products while diversifying our product lineup and building a stable earnings base through overseas market expansion and new businesses," a company official said Tuesday. "In the second half of the year, we will generate tangible results to enhance corporate value and shareholder value."
freiheit@heraldcorp.com
