[Edaily Reporter NA EUN-KYUNG ] #DongKook Life Science Co., Ltd. is moving forward with a plan to change its company name to “DK Luonix.” Through this change, the company plans to expand its business scope from its current focus on contrast agent sales to include new magnetic resonance imaging (MRI) contrast agents and contract manufacturing (CMO) of pharmaceuticals, while also entering overseas markets.

DongKook Life Science Co., Ltd. announced on the 26th that it held a board of directors meeting and resolved to submit a proposal to amend the articles of incorporation for the name change to an extraordinary general meeting of shareholders. The extraordinary general meeting is scheduled to be held on December 11.

In the new company name, “DK Luonix,” “DK” signifies the company’s commitment to carrying on the 58-year history of its parent company, DongKook Pharmaceutical Co.,Ltd. The company explained that “Luonix” embodies the expertise accumulated in the field of diagnostic imaging, technology-driven innovation, and a commitment to future growth.

DongKook Life Science Co., Ltd. was established in 2017 as a spin-off of DongKook Pharmaceutical Co.,Ltd.’s contrast agent business division and was listed on KOSDAQ in February of last year. Its core business involves the development, manufacture, and sale of contrast agents used in computed tomography (CT) and MRI, among other applications, and it also operates a distribution business for medical imaging diagnostic equipment.

Although DongKook Life Science Co., Ltd. saw improved profitability last year, its performance has slowed this year as both revenue and operating profit have declined. Last year, revenue totaled 130.3 billion won and operating profit reached 13.0 billion won; while revenue decreased by 1.1% year-over-year, operating profit increased by 9.5%. In the first half of this year, revenue was 57.3 billion won and operating profit was 3.5 billion won, representing year-over-year declines of approximately 18% and 45%, respectively.

Building on its existing contrast agent business, the company is pursuing the launch of a new MRI contrast agent in both domestic and international markets. In addition, it plans to expand into contract manufacturing of pharmaceuticals to secure new growth engines.

An official from DongKook Life Science Co., Ltd. stated, “We will expand our competitiveness not only in the domestic diagnostic imaging market but also in the global market, and we will actively pursue new businesses that will serve as a foundation for future growth.”

The name change will be finalized if the amendment to the articles of incorporation is approved at the extraordinary general meeting of shareholders on December 11.