Kang-Korea Alcohol Nominees Overwhelmingly Defeated at Dong-A Pharmaceutical (000640KS) EGM

SEOUL, South Korea--(BUSINESS WIRE)--Dong-A Pharmaceutical Co Ltd (000640 KS) announced today that all of the dissident Kang-Korea Alcohol nominees for election as director were overwhelmingly defeated at the October 31 EGM.

The votes AGAINST the election of the nominees, as a percentage of the shares voted, were: Yong Seok Jee, 88.4%; Sun Keun Park, 88.4%; Eun-Sub Jung 88.4%; Joon-Haeng Lee 77.5%; Jeong Sam Park 89.12%

Won Bae Kim, Representative Director & CEO of Dong-A, stated: “We are extremely gratified by this strong showing of support from our shareholders. It deepens the responsibility felt by all of our employees and will spur even further our efforts to build the value of our company.

“Building the value of Dong-A will require the continued implementation and development of our strategic plan as well as our corporate governance project. We recognize that our efforts to turn Dong-A into a world-class, R&D driven pharmaceutical company require not just improved business practices, but improved corporate governance practices as well.

“Now that the distractions caused by the unfortunate attempt by MS Kang and Korea Alcohol to seize control of the Dong-A Board are over, we look forward to focusing all our energies on continuing to implement our strategic plan and corporate governance project and realizing the full value of Dong-A for all of our shareholders.”

Additional information regarding the October 31, 2007 EGM can be found at www.protectdonga.com

Dong-A Pharm. Co., Ltd.
Theodore Kim, +82-2-920-8061