[Edaily Marketin, Reporter Ji Young] Nam Kyung-pil, former governor of Gyeonggi Province, has taken the helm as the new chairman of #GemVax, a KOSDAQ-listed biotech company, marking a new chapter in his corporate career. Chairman Nam, a five-term National Assembly member and former Governor of Gyeonggi Province, has expanded his scope into corporate management and social contribution since retiring from politics. GemVax’s appointment of Chairman Nam is seen as a move to integrate his accumulated political and administrative experience, along with his external network, into the company’s growth strategy.

Former Gyeonggi Province Governor Nam Kyung-pil officially assumed his role as chairman at the GemVax & KAL Chairman Inauguration and Vision Proclamation Ceremony held on the 17th at the Korea Exchange in Yeouido, Seoul. As Chairman Nam—a five-term National Assembly member and former Gyeonggi Province Governor—takes on the role of chairman at a KOSDAQ-listed biotech company, the market is closely watching how he will apply the experience he gained in politics and public administration to drive the growth of a private enterprise.

GemVax expects Chairman Nam to serve as the driving force behind the commercialization of research outcomes, market communication, and organizational transformation.

Kim Sang-jae, an advisor and founder of GemVax, explained the rationale behind appointing Chairman Nam: “As researchers and doctors, we were not adept at communicating with the market or promoting our company.” He added, “We faced many misunderstandings and were even asked, ‘You just write papers—when will these become actual drugs?’”

He continued, “Chairman Nam Kyung-pil is the person that the company, the executives, and I have chosen to help this bud blossom into a beautiful, full-blown flower,” adding, “I hope he will showcase this drug and our research to the market, bringing hope to the countless patients suffering from degenerative brain diseases.”

At the inauguration ceremony that day, Chairman Nam said, “GemVax is a hidden gem of a company that does good work,” adding, “It is a company striving to save lives by developing treatments for progressive supranuclear palsy (PSP)—a rare disease considered the most severe form of Parkinson’s, where the illness is virtually incurable once contracted.”

Chairman Nam’s inauguration comes at a time when GemVax is pushing to commercialize its R&D achievements and expand into global markets. GemVax has identified the development of treatments for degenerative brain diseases as a key growth driver and plans to strengthen its clinical development, market communication, and commercialization strategies moving forward. From a capital markets perspective, trust in information disclosure, investor communication, and long-term strategy is just as important for biotech companies as clinical data and regulatory compliance. Accordingly, Chairman Nam is expected to focus on explaining research achievements in terms the market understands and expanding engagement with investors.

At his inauguration ceremony, Chairman Nam presented “Open, Delegation, and Trust” as his new management keywords. He stated, “In the past, we failed to communicate effectively with shareholders, the market, and the capital markets,” adding, “Going forward, we will conduct regular investor relations (IR) activities and hold regular shareholder meetings through robust communication.”

Chairman Nam introduced GemVax’s team of experts as “Team Nam Kyung-pil,” emphasizing an expert-driven decision-making system. Lee Seok-jun, CEO of GemVax, will oversee the legal and management divisions; Lee Jae-hong, a professor of neurology at Seoul Asan Medical Center and a researcher involved in the GV1001 clinical trial, will lead the clinical division; and CSO Moon Hyung-sik and Professor Ryu Hoon will be responsible for clinical statistics and basic and translational research, respectively.

Chairman Nam said, “I’m sometimes asked if I know anything about biotech. It’s true—I don’t,” adding, “But because I have such a solid team of experts, acknowledging that there’s a lot I don’t know is the first step.”

He then drew on his experience with “coalition politics”—a concept he had emphasized during his past political career—stating, “Coalition politics is nothing more than cooperation,” and added, “I won’t just leave things at not knowing; I will discuss and make decisions together with these experts.”

Chairman Nam’s extensive network of contacts was on full display at the event. Attendees at the inauguration ceremony included Lee Man-deuk, Chairman of Samchully Group; Kwak Jae-seon, Chairman of KG Group; Hong Jae-sung, Chairman of JS Corporation; Park Seong-chan, Chairman of Danal Group; Park Young-pyo, Chairman of Pungin Trading; Park Seung-hee, President of Samsung Electronics; and Lee Hyun-sam, former Chairman of Happy Call, as well as National Assembly Member Lee Sang-sik, former National Assembly Member Hong Jeong-wook, Jeon Young-tae, Director of Seoul National University Bundang Hospital; Jeon Sang-hoon, former Director of Seoul National University Bundang Hospital; Lee Ji-young, Professor of Neurology at Seoul Boramae Medical Center; Jeong Jin-hyang, Secretary-General of the Korea Federation of Rare and Intractable Diseases; baseball player Park Chan-ho; and actor Kim Seong-su. Chairman Nam personally introduced the attendees and spoke about his connections with figures from various fields.