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Korean Beauty Trends & Industry News: 24-02-13

Daewoong Pharmaceutical Targets Indonesian Pharma Market with Stem Cell Facility Approval

    Daewoong Pharmaceutical has officially obtained approval for a stem cell processing facility in Indonesia, marking a significant step forward in its regenerative medicine business. The local subsidiary, Daewoong Biologics Indonesia, passed rigorous health, safety, and quality control verifications by the Indonesian Ministry of Health and the Food and Drug Administration. This certification allows Daewoong to handle stem cells essential for regenerating damaged human tissues and organs directly in Indonesia.

This achievement highlights Daewoong's strategic positioning in Indonesia's rapidly growing healthcare market. With an increasing demand for treatments for incurable diseases due to population growth and aging, the Indonesian pharmaceutical market is expected to grow from 11 billion USD in 2022 to 15 billion USD by 2026. Daewoong aims to enter the regenerative treatment, cell therapy, and bio-material aesthetic markets within this expanding landscape.

Daewoong Biologics Indonesia, established to spearhead Daewoong's entrance into the local regenerative medicine and aesthetic markets, possesses comprehensive facilities including a cell therapy production plant, a cosmetics manufacturing plant, and a laboratory in the Jababeka Industrial Area, Cikarang. Daewoong plans to transfer Korea's latest cell therapy development technologies to this subsidiary and seek mutual growth in Indonesia's regenerative medicine industry through continuous collaboration with the Yongin Cell Therapy Center.

A Daewoong official emphasized that being the first domestic company to obtain stem cell processing facility approval in Indonesia underscores their commitment not only to bioregenerative medicine but also to the research, development, and commercialization of treatments for incurable diseases. Daewoong expects this venture to significantly contribute to the growth of Indonesia's pharmaceutical and biotech industries and to Indonesia becoming a global biotech hub.


Bee-derived Probiotics Proven to Enhance Skin Antioxidation and Whitening

    K-Medi Hub has published research in the international journal 'Microorganisms' demonstrating the positive effects of bee-derived probiotics on skin antioxidation and whitening. The study found that the culture fluid of Lactobacillus kunkeei, isolated from the intestines of bees, effectively reduces reactive oxygen species (ROS) and melanin pigment. This discovery could significantly contribute to the development of probiotics and functional materials for use in cosmetics and pharmaceuticals.

The research was a collaborative effort by the K-Medi Hub Preclinical Center Pathology Support Team's Choi Ju-hee and Lee Yeon-ji, along with teams from Chonnam National University's College of Veterinary Medicine and Kyungpook National University's College of Veterinary Medicine. Yang Jin-young, the director of K-Medi Hub, pledged ongoing support for probiotic and microbiome research, which is expected to lead to the development of various medical product materials.

Given the growing interest in utilizing probiotics and functional materials for product development, this research is anticipated to greatly aid in the creation of functional cosmetics and medicines, aligning with current trends and demands in the beauty and health industries.


SBA Recruits Cosmetics Companies for Expansion into France's Citypharma

    The Seoul Business Agency (SBA) is calling for applications from small and medium-sized enterprises based in Seoul for the 'Overseas (France) Offline Market Entry Support Project'. This initiative aims to assist promising cosmetics and beauty product companies in entering the French market by organizing a Korean cosmetics pop-up booth at Citypharma in Paris. Citypharma, a leading drugstore chain located throughout France in cities such as Paris, Lyon, and Marseille, is known for its wide range of cosmetic products.

Interested companies must possess export-ready cosmetics or beauty products and submit necessary documents such as business registration certificates, product brochures, and small business certification through the SBA website. The SBA will provide support for overseas buyer consultations, product launches abroad, linkage with large sales channels, certification fees, and marketing.

This project will select 40 companies for the first round to participate in export consultation meetings, with a second round selecting 20 companies to showcase their products at a pop-up store in Paris. This presents an exceptional opportunity for Korean cosmetics companies to test their products in the French market, with the potential for further expansion into other offline stores in France.

Kim Sung-min, the Marketing Director of the SBA, emphasized the importance of the French market, noting that success in France, home to many luxury brand headquarters, could significantly enhance the global reputation of Korean cosmetics companies. This project focuses on expanding the presence of Korean cosmetics in France and providing domestic companies with broader global market entry opportunities.
Location: 한국

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