[Edaily Reporter KIM SAE-MI ] The reorganization proceedings for UNION KOREA PHARM CO.,Ltd, acquired by BukwangPharmaceutical(003000), have officially concluded.

BukwangPharmaceutical announced on the 31st that the Seoul Bankruptcy Court had issued a decision to terminate the reorganization proceedings for UNION KOREA PHARM CO.,LTD.

UNION KOREA PHARM CO.,Ltd, a manufacturer and distributor of prescription drugs, entered rehabilitation proceedings in September of last year. Following restructuring and financial improvement efforts, it received court approval for its rehabilitation plan on May 12.

That same month, BukwangPharmaceutical decided to acquire UNION KOREA PHARM CO.,Ltd and invested 30 billion won. This investment amount represents 8.8% of BukwangPharmaceutical’s consolidated equity of 340.9 billion won as of the end of 2025. By paying for the new shares, BukwangPharmaceutical became the largest shareholder of UNION KOREA PHARM CO.,Ltd.

Based on the capital injection from BukwangPharmaceutical, UNION KOREA PHARM CO.,Ltd completed the repayment of most of its rehabilitation claims in accordance with the rehabilitation plan and filed a motion with the Seoul Rehabilitation Court on the 14th to terminate the rehabilitation proceedings. With the court’s decision to terminate the proceedings on that day, the company emerged from rehabilitation just 17 days after filing the motion.

An official from BukwangPharmaceutical stated, “UNION KOREA PHARM CO.,Ltd plans to lay the groundwork for sustained future growth based on stable business operations and the normalization of management.”