Hugel wins award for $70m exports of cosmetic products
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Hugel, South Korea's botulinum toxin products maker, has been recognized by the government for its recent accomplishments in exports, the company said Friday.
According to Hugel, the company has been awarded by the Ministry of Trade, Industry and Energy and the Korea International Trade Association for reaching the $70 million export milestone between July of 2022 and June this year.
The value of the company’s exports in the 12-month period was the highest among the companies based in Gangwon Province, the company added.
Hugel has stepped up as one of South Korea’s major exporters of non-invasive injectable treatments with its botulinum toxin product Botulax and hyaluronic acid filler The Chaeum.
Hugel has received regulatory approvals for Botulax in around 60 countries to date. Hugel is also the first Korean company to export botulinum toxin products to China, Australia and Europe.
Hugel currently aims to launch Botulax in more European countries, as well as countries in North and South America.
“In Europe, Hugel has completed launches of Botulax in major countries, including Germany, the UK, France, Italy and Switzerland. The company now plans to make entries to 30 countries in Europe with Botulax,” Hugel said.
Hugel added that it expects Botulax sales from Canada, in which the company received regulatory approval last year, to start to increase soon.
Hugel will also try to boost overseas sales of hyaluronic acid filler The Chaeum. The Chaeum is currently sold in around 40 countries worldwide, and its sales in the third quarter have jumped 20 percent on-year due to increasing demand in Europe and the Asia-Pacific region.
By Shim Woo-hyun(ws@heraldcorp.com)
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