[JPM 2026] SK, Lotte scions seek global partnerships at JPMorgan conference

SK Biopharm highlights radiation-based cancer therapy pipeline as Lotte Biologics pitches CDMO strategy

Chey Yoon-chung (left), head of strategy at SK Biopharmaceuticals, and Shin Yoo-yeol, Lotte Biologics co-CEO (SK Biopharmaceuticals, Lotte Biologics)

SAN FRANCISCO — The scions of SK Group and Lotte Group are seeking business opportunities and partnership chances at the 44th JPMorgan Healthcare Conference in San Francisco this week.

Chey Yoon-chung, the head of strategy and vice president at SK Biopharmaceuticals and the daughter of SK Group Chair Chey Tae-won, put emphasis on searching for what the company needs to do to secure future growth.

"Attending this year's (JPMHC) as the head of strategy, I plan to actively explore cooperation chances for maximizing global partnerships, pipelines and new modalities to set up SK Biopharmaceuticals' growth story in a more multifaceted way," said Chey.

Last month, SK Biopharmaceuticals appointed Chey in a position to lead the firm's mid- to long-term strategy development, portfolio management, global expansion planning and new business assessment at the newly established strategy department. Prior to the year-end organizational shuffle, she used to be the chief of the business development department.

Chey's visit to one of the world's biggest health care conferences came as SK Biopharmaceuticals announced Monday that it had obtained the US Food and Drug Administration's approval to begin a phase 1 clinical trial of its radiopharmaceutical therapy, or RPT, candidate SKL35501 and diagnostic imaging agent SKL35502.

The approval for the investigational new drug, or IND, applications, marked the first time for a Korean firm to have secured the FDA's clinical trial approval in the RPT sector. According to SK Biopharmaceuticals, Chey has led the RPT project.

Shin Yoo-yeol, the eldest son of Lotte Group Chair Shin Dong-bin, who was promoted to a co-CEO of Lotte Biologics in November, underlined the importance of not only engaging with potential partners, but also clinching contracts at the JPMHC.

"The key objective of this event is to thoroughly analyze the global market's trend and expand ties with potential clients," said Shin.

"Presenting the dual-site strategy of Syracuse campus's (antibody-drug conjugate) capabilities and the Songdo campus scheduled to be completed in the second half of this year as our business strengths, we will secure a meaningful business momentum that leads to signed contracts beyond simple networking."

Lotte Biologics currently runs the Syracuse, New York, biopharmaceutical manufacturing plant, which was acquired from Bristol Myers Squibb for $160 million in January 2023. The company broke ground for the Songdo Campus in Incheon in July 2024. It plans to have total production capacity of 360,000 liters at the Songdo site.

The 44th JPMHC is taking place at the Westin St. Francis hotel from Monday to Thursday with about 1,500 companies and 8,000 participants expected to gather at the venue throughout the week. Neither SK Biopharmaceuticals and Lotte Biologics were set to deliver an official presentation during the event.