# HLB

HLB is a Corporate Investor based in Ulsan, South Korea.

## Overview

- **Organization type:** Corporate Investor
- **Headquarters:** Ulsan, South Korea
- **Region:** Asia
- **Address:** 10-5 Myeonghaksandanseo-ro Yeondong-myeon, Ulsan, South Korea
- **Founded:** 1985
- **Assets under management:** Undisclosed
- **Website:** hlbbio.co.kr
- **LinkedIn:** https://www.linkedin.com/company/hlbtech

## Regulatory record

- **Reports private funds:** No

## About

HLB was established in 1985 by Jin Yang-gon. The firm began as a corporate entity and expanded into biopharmaceutical development and manufacturing. HLB allocates across biotechnology and pharmaceuticals through direct ownership and early-stage investments. Confirmed holdings include Elevar Therapeutics, Immunomic Therapeutics, and Verismo Therapeutics. The firm also holds positions in listed affiliates such as HLB Life Science and HLB Pharmaceutical. Activity spans South Korea and the United States, with manufacturing facilities in Ulsan and Osong. The group reports no public professional count. It maintains offices in Seoul and Sejong in addition to the Ulsan headquarters. HLB Foundation operates as the philanthropic vehicle focused on health initiatives in South Korea. May 2024: Presented clinical trial results at the ASCO Annual Meeting. HLB controls its subsidiaries through 100 percent ownership stakes executed via dedicated entities such as HLB USA and HLB Innovation. This direct ownership model distinguishes the group from fund-based investors and ties capital deployment to operational control of portfolio companies.

## Sectors

- Biotechnology
- Healthcare
- Pharmaceuticals

## Offices

- Seoul
- Sejong

## People

- Jin Yang-gon — Chairman

## Questions

### Who runs investment decisions at HLB?

Jin Yang-gon serves as Chairman and founder. Kim Tae-han chairs the Bio Division.

### Does HLB participate in fund commitments or only direct deals?

HLB executes through direct ownership of operating companies and early-stage investments rather than external fund commitments.

### Which sectors does HLB explicitly avoid?

No explicit avoidance sectors are disclosed in available records.

### What is HLB's known posture on co-investments alongside external GPs?

No co-investment activity with external GPs is recorded.

### How is HLB related to its US subsidiaries?

Elevar Therapeutics and Verismo Therapeutics are held at 100 percent through HLB USA and HLB Innovation respectively.

## Related profiles

- [European Investment Bank](https://altss.com/profile/european-investment-bank)
- [CAPEF](https://altss.com/profile/capef)

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Last updated: 2026-06-03T20:00:00.000Z

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