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The Korea Herald
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THE INVESTOR
March 29, 2024

The Boardroom

Celltrion chairman hints at W150b investment in beauty business

  • PUBLISHED :August 26, 2016 - 16:44
  • UPDATED :August 26, 2016 - 16:44
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[THE INVESTOR] Celltrion Chairman Suh Jeong-jin on Aug. 26 hinted the Korean pharmaceutical firm will invest an additional 150 billion won (US$134.6 million) into its nascent but lucrative beauty business in the coming years.

“’Cosmeceuticals’ is a growing trend in the global cosmetics market. We are also pinning high hopes on it,” he said in his keynote speech on corporate competitiveness and entrepreneurship in Seoul on the day.

“We will invest an additional 150 billion won into cosmetics business.”

Celltrion Chairman Seo Jung-jin



Celltrion, best known for its robust biosimilar business, is recently pouring resources into nurturing its own cosmetics brand Celltrion Skincure, formerly Hanskin, since the 300 billion won acquisition in 2013.

The company also established a new lab under its research and development center to adopt bio technology into cosmetics products. The first product lineup “Bio C Hub Hydro Ample,” launched in October last year, got approval from the US Food and Drug Administration, paving the way for it to enter the US market.

Following a series of new investments, the cosmetics business division is still struggling to improve profits. Celltrion Skincure suffered an operating loss of 5.2 billion won last year.

By Lee Ji-yoon (jylee@heraldcorp.com)

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