Dong Wha Pharm. CO., LTD. was found on September 25, 1987 and has been a leading national pharmaceutical enterprise in Korea with 110 years history through November 15, 2007. The major driving force that led this national company to sustainable development and its leap toward a world class enterprise has been the underlying entrepreneurial spirit of Former President Bo Dang Chang-Sik Yoon who was led revival of Dong Wha Pharm as second founder and Former Chairman Gha Song Kwang-Yull Yoon who built the new image of Dong Wha.

1. Former President Bo Dang Chang-Sik Yoon

Bo Dang Chang-Sik Yoon took over national enterprise Dong Wha Pharm known for Bu Chae Pyo Whal Myung Su which was in financial difficulty, and declared a new start. As he took over and declared the launch of Dong Wha Pharm, he led development of the company with determination that "Make quality medicines which can save lives help fellow Korean people who are persecuted in this country, and deliver Dong Wha's western medicines to overseas Koreans expelled by Japan and wandering around overseas."

He successfully improved business operations by guiding the company to the right path and defining a code of conduct: First, make western medicines only, Dong Wha should serve customers by producing quality medicine. Second, Dong Wha is a company owned by its members who are trying to follow the right path and be faithful to their principles. Third, people of Dong Wha should accept and correct their mistakes and turn the misfortune to their advantage. His success came as he pushed ahead with reform in a people-oriented generous manner.

As an independence fighter who had great love for his country, Former President Bo Dang Chang-Sik Yoon reintroduced the tradition of national enterprise by introducing Dong Wha's re-establishment sprit, and led Korean pharmaceutical industry as a nationalist entrepreneur.

Former President Bo Dang Chang-Sik Yoon was born in 1890 February 13, and graduated business school of Boseong School (current, Korea University) in 1914. He led growth of Dong Wha which was suffering from financial problems and in danger of bankruptcy in the Japanese colonial period by re-establishing the company in 1937. He also introduces four elements of Dong Wha spirit which are (1) Respect for customers, (2) Right-path management, (3) Lifetime employment and (4) Transparent management. These four elements are even deemed critical in the 21 century's business environment. He also created Dong Wha's management for customer satisfaction, value management, ethical management and respect for people as the company’s business spirit which has been the foundation for the achievement of 110 years of great work. He had qualifications for a great business leader such as development and innovation, leadership, relationship management and independence spirit. Especially, he was widely known for his independence movement and many achievements he made as an indigenous entrepreneur through his entire life.

Bo dang couldn't bear complacency under the increasing suppression and humiliation from the Japanese imperialism. He joined in the Joseon Association for Economic Production Promotion with Nam-Seon Choi and Sung-Soo Kim to fight for his country. The association was a secrete organization for independence of national economy which aimed to foster national spirit and economic prosperity by leading businesses to retake national resources seized by Japan. However, he was arrested and imprisoned by Japanese police because of his movement for the association which was about to grow as a major organization.

After he was released from the prison, he financed activities of the Korean army for national independence and helped needy people by promoting national economy. He continued to work for independence of country continuously, concealing his name and as a member of Singan-hoe and Bolin-hoe, and devoted himself to revival of national enterprises. Especially, he became a founding stone for national independence by being elected as a member of the central standing committee when Dr. Lee Seung Man returned from 33 years of overseas independence movement and organized the Korean national conference for promotion of independence with non-partisan point of view and declaration that "United we stand and divided we fall" on October 16 1945.

With his right path management philosophy, former president Bo Dang Chang-Sik Yoon is recognized as a devoted leader in the country who a national entrepreneur and an independence fighter with creative, constructive and innovative spirit who devoted himself for prosperity of Koreans suffering from Japanese imperialism.

2. Former Chairman Gha Song Kwang-Yull Yoon

Resembling his father in many ways, Former Chairman Gha Song Kwang-Yull Yoon who had spirit of independence and innovative entrepreneurial business philosophy was drafted as a Japanese student soldier and taken to the war in China while he was in law school of Boseong School (current, Korea University) in 1944. However, he escaped from Japanese army and volunteered to join the Korean independence army. He devoted himself to independence of motherland, Korea, and made a trip back with a thinking of how he could contribute to his country after independence.

When he was 24 in 1947, he joined Dong Wha and succeeded independence spirit of Dong Wha from his father, Former President Bo Dang Chang-Sik Yoon.

He established Dong Wha Spirit as an entrepreneur, which includes service for society and social responsibility, right path and honesty, thrift and saving and sincere and heartily mind. He made contributions to national health as a humble business leader who maintained good reputation of Whal Myung Su with outstanding management skills and led Dong Wha with 100 years' history without seeking his own fame.

Former Chairman Gha Song Kwang-Yull Yoon helped the company to pioneer investments for research and development and to develop advanced compounds for innovative medicines, and devoted his energy to building the company’s competency with his innovative and reasonable management.

He also contributed to rebuilding and leading Dong Wha Pharm with local capital; establishing national entrepreneurship to develop innovative medicines; setting up the first orphan drug center in Korea to save people from illnesses; providing free medicines to people in several countries including Rwanda, and improving healthcare for people living in remote islands by engaging in medical service activities for villages without medical facilities. These contributions are recognized as demonstration of entrepreneurship which returns corporate profits to society.

Taking the initiative in adopting creative management which promotes technology innovation, he led raw material synthesis -- and therefore, helped the local pharmaceutical industry to gain recognition from the world, -- technological alliances and exchange with global pharmaceutical companies. He proved his ability to modernize production facility; develop new products; implement a strategy for management diversification; engage in various marketing activities designed to satisfy customers; establish top-quality management with zero-defect principle; and promote business innovation and introduction of a management specialist system as a business leader who provided essential power for development and growth of Dong Wha Pharm.

His fundamental approach toward management involved such values as business ethics, thrift and saving and co-existence and prosperity. These values demonstrated the code of conduct of an innovative entrepreneur which contributed to national health care by developing medicines that save lives.

As a result and recognition of this indigenous entrepreneurship, Former Chairman Gha Song Kwang-Yull Yoon received Bronze Tower Order of Industrial Service Merit in 1974. This achievement came as he made significant contributions to fostering talents in society by rebuilding and leading the company with local capital; operating the first orphan drug center in Korea; and returning the company's profit to society – in this respect, he did not want others to know hid good deed such as funding independence movement and donation to the underprivileged.

Besides this prize, he received a number of honors for his contributions to development of the country and the pharmaceutical industry: Commendation of Minister of Health and Welfare(1979) for his contributions to advance in medicine and medical supplies, Minister of Labor(1979) for his contributions to development of the national economy, Prime Minister (1981) for his contributions to development of the export industry and pioneering overseas markets, Minister of Health and Social Affairs(1984) for his contributions to social welfare, National Medal Mo-Ran Jang on Health Day in April 1995 and Badge of Henrik from the Danish government and the medal of honor from a Danish industries association (1995).

The judging panel of the Korean Academy of Business Historians select Former President Bo Dang Chang-Sik Yoon who led revival of Dong Wha Pharm as second founder and Former Chairman Gha Song Kwang-Yull Yoon who succeeded his father’s independence spirit to become a business leader as Winners of 2007 Korean Entrepreneurship Awards based on their entrepreneurship and business activities.