Dongsung Pharmaceuticals, a hair dye manufacturer, plans to expand the number of countries it exports to on the strength of export growth.
Dongsung Pharmaceuticals (CEO Lee Yang-gu) was awarded the “5 Million-dollar Export Tower” at the 48th trade day ceremony held at the COEX on December 12. The figure is just the export volume by June, 2011. President Lee Yang-gu received the award from the Ministry of Knowledge Economy for his outstanding contribution.
Dongsung Pharmaceuticals made a noticeable growth in overseas markets, increasing exports of Bongdok cosmetics’ A.C. Care, which was launched in 2010. A.C. Care is exported to nine countries the US, China, Japan, Canada, Taiwan, Tailand, Vietnam, the UK and New Zealand, and has passed the one million US dollar export mark since its release a year ago. It has enabled the pharmaceutical company to reach 5 million US dollars in overseas exports.
Expansion of Overseas Mar-kets in Short Period of Time
Hair dye that was once exported to 10 countries such as the US, China, Japan, Taiwan, Tailand and Vietnam in 2009, is now being exported to 18 countries, including new ones such as Canada, Malaysia, the Phillipines, Brunei, Cambodia, Bangladesh, Sri Lanka and Ecuador. Thanks to its excellent quality and global-level technology, the hairdye is being exported to more and more countries. A Dongsung Pharmaceuticals official said, “A.C. Care has six items, such as A.C. Care water essence, skin softener, lotion, serum, complex and foam cleanser and is expected to easily reach US$3 million in exports in 2011. Boosted by the growing Korean wave in Europe, the company plans to expand into European, the Middle-east and South American markets.”
Celebrating the 55th anniversary of its foundation this year, the pharmaceutical company is widely known for stomachache and diarrhea pill “Cheong Ro Hwan” and grey hair dye “Seven-Eight.” Established on November 25, 1957, Don-gsung Pharmaceuticals, with its head office in Banghak-dong, Dobong-gu, Seoul, is taking a leading role in the modernization of the pharmaceutical industry after completing construction of a new factory and central research institute in Asan, South Chungcheong Province in 1997. It is an established company with international competitiveness, producing good quality medicine through the use of cutting-edge facilities and advanced medical technology. Dongsung Pharm-aceuticals is currently pursuing “Health from Nature” through the production of non-prescription medicine, prescription-only medicine and cosmetics. An official in the company said, “We are working hard to realize our goal of leading the global hair dye market as a manufacturer specializing in hair dye.” The company recently released “bubble & bee” foaming hair color, which enables hair to be dyed simply by applying dye foam. This natural hair dye is totally different from existing natural herb or henna hair dyes, and is expected to play a big role in leading the hair dye market.