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[newstomato] Growing corporation with Bio·Pharmaceutical industry, ‘SeouLin Bioscience’

[original report]

Growing corporation with Bio·Pharmaceutical industry, ‘SeouLin Bioscience’

CEO Eul-Moon Hwang, “We will enhance possibility of growing by exporting localized equipment”.

The interest of health care is increasing globally with rising people’s standard of living. According to Korea Research Institute of Bioscience & Biotechnology, global bio market scale is over the sum of semiconductor, cars, and chemical products scale which is expected as $4,400billion. Even government is paying attention to Bio industry as innovation enterprise’s core part. At this point, especially Bio infra distribution specialized company is getting attention which needs for research and manufacturing. The reason is because there are lots of possibilities of growing together with bio-related products and reagents distribution business as Bio industry grows up. SeouLin Bioscience is a global bio infra enterprise that provides total solutions for bio research and manufacturing. In addition, SeouLin is expanding its business area by localization of bio equipment and plus, they graft skincare medical instruments company and functional fermented cosmetics company as well.

SeouLin Bioscience celebrated its 33rd anniversary in this year which CEO Eul-Moon Hwang founded in 1984. Its main businesses are Bio research and providing total solutions, localizing bio equipment, Molecule diagnostic kits based on MicroRNA, Medical aesthetics, and functional cosmetics. Its headquarter is located in Bundang-gu, Seongnam-si, Gyeonggi-do city, and SeouLin Global Center is located in Dongtan, Hwaseong-si, Gyeonggi-do city. Reporter has visited a headquarter and met CEO Eul-Moon Hwang.

Business diversification demonstrated by localization of bio equipment

According to SeouLin Bioscience, the over 90% company’s sales are from instruments, reagents, and consumables. The first half year’s export ratio is 5.53%, and domestic ratio is 94.47%. It means SeouLin Bioscience’s most sales came from domestic market by selling instruments and consumables. The first half year’s sales account is \22.2billion and its operating profit is \1.5billion. Its annual sales accounts are \37.7B in 2014, \41.6B in 2015, and \44.9B in 2016 that shows stable growing rate.

CEO Eul-Moon Hwang said, “Sales need to be diversified by main business’ stable growth and starting new business” and also mentioned, “We made a plan to export inversely by developing localized equipment”. And SeouLin Bioscience has developed ‘ecoTree’ which makes slightly acidic electrolyzed water (HOCI) that has an eye on laboratory safety issue recently. The ecoTree is an equipment that produce hypochlorous acid (HOCI) which is core sterilization component from Human immune system. It can be used variety areas such as laboratory, hospitals, animals & farm, food company, nursing home, etc.

CEO Hwang announced, “We have customers’ data which stacked by 30years business that is expected to get into the related market rapidly” and he also was sure, “The slightly acidic hypochlorous acid equipment’s market share rate will be increased up to 20% in domestic laboratories in 3 years”.

Besides, SeouLin Bioscience is developing early diagnostic technology of dementia as new business which is Ministry of Health and Welfare’s national assignment. For this project, school of medicine in Inha University, Yonsei University Health System, and Yonsei University have participated. It is expected to utilize on prognosis forecasting of dementia and treatment technology development by developing early diagnostic of dementia using blood microRNA.

SeoulinMediCare and Genozyme; core business of healthcare

SeouLin Bioscience entered in medical aesthetic business by taking over SeoulinMediCare in 2013, and entered in functional cosmetics business by taking over Genozyme in 2015. SeoulinMediCare and Genozyme are growing as core business of healthcare area from SeouLin Bioscience.

SeoulinMediCare made differentiated products line that reinforces the anti-aging market control by CEO Byung-cheol Kim who is from research director in domestic skincare instruments company. Currently, he made a product line for hospitals and aesthetics products, and released homecare product which uses plasma technology as new product. Especially, SeoulinMediCare’s plasma technology has a great sterilization power that is good for infection treatment, ionized elasticity, skin regeneration, and anti-aging.

CEO Hwang stated, “SeoulinMediCare grew up by hospitals and B2B market centered, but recently we are expanding the market area to B2C due to skin aesthetics’ interest”. And he mentioned, “Our goal is to maximize exporting rate by entering Home shopping in next early year”. Plus, he said, “Other exporting business is in progress as well such as Europe, USA, China, and South-East Asia. Currently, it has an issue about China’s THAAD problem, but we will make a plan actively according to market situations”.

Genozyme is getting interest by USA and China market cause of functional whitening fermented cosmetics using ‘Cordyceps’. Cordyceps are eatable mushrooms which secretes melanin decomposition material. Currently, 3types are registered as new materials for cosmetics in USA ICID.

CEO Hwang said, “We are enhancing our growth possibility by exporting SeouLin Bioscience’s localized equipment and Subsidiary company’s overseas expansion. And we will develop as Global Bio Infra Enterprise through differentiated products and services”.