Hugel said that it has received sales approval for Chaeum Style, a hyaluronic acid (HA) filler, in Indonesia.
|Hugel has received product approval for its HA filler Chaeum Style in Indonesia. (Hugel)|
"Indonesia is the world's largest Muslim country and has a high entry barrier for foreign companies and products due to the nation's difficult licensing process," the company said. "However, the country has been receiving attention from local companies. It has high growth potential as the world's fourth-largest population, while also serving as a bridgehead for advancing into nearby countries."
Chaeum Style is a HA filler lineup newly released by the company in March last year.
The company said it was possible to acquire the demanding Indonesian permits by ensuring high safety by using local raw materials and carrying out all production processes in Korea.
Hugel plans to increase its share in the local market through active marketing activities targeting local doctors and heavy users.
"Indonesia is a market with high interest and response to K-Beauty. There is a high demand for training related to Korean cosmetic procedures," the company said. "Considering these market characteristics, Hugel is preparing a webinar format academic forum this year."
Hugel aims to achieve more than 15 percent market share within three years through systematic and aggressive marketing activities, the company added.
“As the process for obtaining the approval of our botulinum toxin is currently in progress in Indonesia, we expect that the market share can be rapidly expanded through the synergistic effect of the two products in the future," a company official said.