Boryung Co., Ltd.

We are dedicated to strengthening Our earning power by finding and Investing in new opportunities. Boryung Corp. achieved impressive growth in 2021 compared to a year ago. In fact, stand-alone revenue climbed 10% year-on-year (YoY) and operating profit soared 24%YoY. The phenomenal financial performance was achieved through our intrinsic business competitiveness in the face of the COVID-19 pandemic, rather than due to one-off events. On a consolidated basis (including Boryung Consumer Healthcare), growth could appear sluggish, but this was caused by aggressive investments for future growth. Hence, Boryung is forecast to achieve meaningful growth even in consolidated earnings starting in 2022. Our pharmaceutical business, the flagship growth driver of Boryung, should continue to display solid growth this year, backed by Daniel Chang and our excellent management team. Investors are advised to read his 2022 annual letter for more detailed information on the pharmaceutical business.