[Press coverage] China to be captivated by premium calss filler, Bioplus accelerates localization strategy
Munhwa ilbo | Lee Kyung taek reporter
Date of publication : July 27 2020(Mon)
▲ Filler injecting procedure scene where wrinkles and contours are corrected by forming a volume on the skin. As the recognition of Korean filler products is widespread, demand in overseas markets is also surging. offered by Bioplus
BioPlus Co., Ltd. to set up a joint venture factory in Hainan and export to Hong Kong and Southeast Asia
The “Korean Wave” craze is also hot in overseas filler markets. With growing interest in beauty, demand for filler, considered one of the leading aesthetic products along with Botox, is surging. In particular, more than 40 filler manufacturers, which had been fiercely competing to dominate the domestic market, are turning their eyes to overseas markets, and are now looking to China, Russia, Latin America and Europe. According to market research firm GBI Research, the global filler market is expected to reach 2.7 billion U.S. dollars by the end of this year.
Bioplus (CEO Chung Hyun-kyu) is a Korean filler manufacturing company that has been leading the “Filler Korean Wave” by turning to overseas, which is highly profitable. Recently, it has been drawing attention by establishing a joint venture in Hainan, China, aimed at producing filler as well as providing premium medical and health services. Among domestic companies, Bioplus is the only company to participate in Hainan’s 100 free trade port projects.
Bioplus also participated in a signing ceremony for the project held in Hainan on April 13. They are going to finish designing labs and factories by the end of the year and start manufacturing next year. This is their plan. The joint venture will introduce advanced technologies from Bioplus to directly produce fillers and sell and export them to mainland China, Hong Kong and Southeast Asia.
China’s interest in Bioplus has been attributed to its “premium-class filler” technology, which has upgraded its filler products to a new level. According to Bioplus, although it manufactures fillers with hyaluronic acid like conventional fillers, it has even developed and applied for a patent with a ‘MDM filler’ manufacturing method that creates a stronger and tighter 3D space during the process of weaving thread-shaped hyaluronic acid (cross link). Bioplus claims that making fillers with the technique will solve problems such as turned off repair area and lack of molding that can create shapes after the procedure. Lee Se-yoon, vice president of Bioplus, said, “Bioplus is trying to develop products and marketing methods to suit the untact era caused by Corona 19 and apply them to the global market,” adding, “We are also preparing to introduce new normal businesses such as marketing utilizing big data in the cyber environment.”
Reporter Lee Kyung-taek firstname.lastname@example.org