[Photo provided by Aekyung Industrial Co.]
South Korea’s household and personal care product maker Aekyung Industrial Co. announced Tuesday that it signed a memorandum of understanding with local drug maker JW Shinyak Corp. to launch a dermocosmetics brand.
Aekyung Industrial will develop dermocosmetic products by combining its 60-year-long business know-how and JW Shinyak’s bio technology. JW Shinyak is known for outstanding drug development technology, especially for dermatology, urology and otolaryngology.
The two companies plan to apply JW Shinyak’s Cytoplasmic Transduction Peptide (CTP) technology to Aekyung’s dermacosmetic products they will jointly develop to enhance absorptivity. CTP is JW Shinyak’s patented drug delivery technology that effectively transfers macromolecules to the cytoplasm. CTP-applied drugs can exhibit effective results even at low concentrations due to improved cell membrane permeability, according to the company.
Dermocosmetics are cosmetic products that use active ingredients selected from a dermatological point of view to treat certain skin problems. The global dermocosmetics market has been growing rapidly along with the increasing number of consumers who care beauty and health at the same time. “We will develop differentiated and high-performing dermocosmetics in partnership with a pharmaceutical company,” said an official from Aekyung Industrial.
Aekyung Industrial, the country’s long-time household care product leader, has successfully groomed beauty product business as its another pillar business. Thanks to its best-selling cosmetics brands ‘Age 20’ and ‘Luna’, its cosmetics sales leaped 63 percent in the first half of this year against the same period last year.
Its beauty line contribution to its total sales also has expanded fast, growing from 43 percent last year to 48 percent in the first quarter of this year and then 52 percent for the first half, exceeding that of its household business for the first time.
On Tuesday, shares of Aekyung Industrial rose 0.54 percent to close at 74,400 won.
By Kang Da-young and Choi Mira
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]