Park Soon-jae

Early Life and Education

Park Soon-jae was born in Gunsan, South Korea, on December 22, 1954. He graduated from Seoul High School in 1973. He pursued his higher education, earning a bachelor's degree in biochemistry from Yonsei University in 1980. He furthered his studies in the United States, obtaining a Ph.D. in biochemistry from Purdue University in 1985.

Rise to Success

After completing his Ph.D., Park worked as a researcher at the Massachusetts Institute of Technology (MIT) from 1986 to 1988. Returning to South Korea, he held several biotechnology research positions before becoming the head of development at LG Chem in 1998. He then took on various leadership roles within LG Chem's life sciences division. In 2006, he served as the managing director of Dream Pharma. Park's entrepreneurial journey began in 2008 when he co-founded Alteogen with his wife, Chung Hye-shin. Alteogen focuses on developing biopharmaceuticals and biosimilars.

Key Business Strategies

Alteogen's core technology, Hybrozyme, converts intravenous (IV) biopharmaceuticals into subcutaneous (SC) formulations, improving patient convenience. Park recognized the growing demand for improved patient convenience in the biopharmaceutical market. The company has made key deals with global pharmaceutical companies, including GPC, MSD, Sandoz, and Daiichi Sankyo, revolving around its SC formulation technology. Notably, the agreement with MSD had a staggering value of $4.37 billion. These licensing deals significantly boosted Alteogen's stock price.

Philanthropy

Specific details about Park Soon-jae's philanthropy amounts were not found in the search results. However, Boryung Pharmaceutical, a company in the healthcare industry, participates in various corporate philanthropic activities and aims to contribute to human health.