Bio-medical beauty group UltraV (CEO Hanjin Kwon) signed a MOU with Chinese distributor WUDELAWEI (Shanghai) Biotechnology, distribution officer Sinopharm Group Medicine, and CRO officer Tiger Med to advance into China in earnest.

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A business agreement ceremony was held at the Riviera Hotel Versailles Hall in Gangnam, where the 2023 UltraV & The Master Clinic year-end party night event was held. (In order from left) Sinopharm WAN QI, UltraV Kwon Kwon Jin-jin, TigerMed WAN PENGFEI, and Jang Jin-hyuk, vice president of Warrather

The signing ceremony, which was held at the 2023 UltraV & The Master Clinic's year-end night event on the 6th, was attended by Kwon Kwon-jin, CEO of UltraV, Vice President Jang Jin-hyuk, WANG QI, and Tiger Med Wan PENGFEI, promising mutual cooperation to enter the Chinese mainland market in earnest, starting with Hainan.

With this business agreement, UltraV will be able to start exporting to China for the world's first PDO MICROSPHERE "UltraCol," which is established not only in Korea but also worldwide.

Although mainland China is Asia's largest country in the beauty medical device market, it is not easy to enter the market due to its strict and difficult medical device certification process, the company said, adding that the company's entry into the Chinese market was achieved after years of efforts. He added that it plans to expand its market share by establishing brand awareness through network and sales know-how in mainland China through active collaboration.

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UltraCol, China's first certified medical device, is characterized by a powder form using polydioxanone (PDO) ingredients registered with the FDA. In addition to the volume effect, small powder-type particles directly activate collagen, which is reduced by aging, while depositing in the skin, helping to make the skin layer healthy and elastic for additional effects.

It also received a fourth-grade medical device license in Korea and an IR52 award in 2020 for technology development managers who took the lead in industrial technology innovation by commercializing products developed by domestic companies and technology research institutes.

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Hanjin Kwon, CEO of K-beauty evangelist, said, "We were able to confirm the propaganda of 'UltraCol' in overseas markets and the possibility of entering new markets," adding, "Through this business agreement, we will speed up our entry into the Chinese mainland market to solidify our position as a leading K-beauty brand and achieve continuous sales growth."

Meanwhile, "UltraCol" was recently selected as the Ministry of Commerce, Industry and Energy's "Next Generation World's Top Product" and was officially recognized for its unrivaled technology and was recognized for its contribution to the development of the medical device industry by receiving the Ministry of Health and Welfare's "Innovative Medical Device Industry Development."

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