"UltraV is one of the most well-known brands of absorbable threads in Korea, and it was also the beginning of the absorbable thread-lifting craze. Currently, it has grown into a global brand that has entered about 50 countries, and is based on CEO Han-Jin Kwon's efforts.

CEO Han-Jin Kwon's time flies so fast that he spends three days a week at the hospital, another three days at a seminar, and one day on an airplane. We listened to the story of Han-Jin Kwon, CEO of Ultra V, which has grown into a global company and has emerged as a ‘powerhouse in K-beauty’.​ 

Q. Please introduce Ultra V.

A. I am Han-Jin Kwon, the CEO of Ultra V and the CEO of Dermaster Clinic Network, which operates 16 networks around the world. Established in 2012, Ultra V is a company that produces and sells absorbable lifting threads, cosmetics, and medical devices.

Q. You have grown Ultra V into a global company by expanding your portfolio. Could you please explain the process?

A. People talk about ‘K-beauty medicine’, but if you look closely, there are very few products with originally from Korea. It means that there is no botulinum toxin or filler that started in Korea and spread. Almost the only thing that is originally from Korea are the ‘absorbable lifting threads’. Among them, the first known absorbable thread brand is Ultra V.

Insoluble threads remained in the market for a long time because of the perception that ‘lifting with non-absorbable general threads would last longer’, but the effect did not last long and if there were problems, they would last forever. However, the melting threads have the same effect or last longer, but they are safe because they melt and absorb. So absorbable thread became popular all over the world.

We started PDO (Polydioxanone) threads around 2010, and after 3-4 years, we also produced PLLA (Poly-L-Lactic Acid) threads, but PLLA threads were stiff and not good for lifting. There is a problem that it keeps popping out when put them on the skin, so we developed a 3rd generation melting thread called polycaprolactone (PCL) thread, and it is currently being sold a lot. It is much softer and the effect lasts 2-3 times longer than PDO.

Currently, they have entered many countries, starting with Japan, Thailand, and Southeast Asia, and now, when asked overseas, ‘Where can you find absorbable lifting threads?’, the answer is Korea.

While working on a dissolvable thread, he came up with the idea of ‘how about making a dissolvable thread into powder and spraying it?’ and patented the product and the PDO product was called ULTRACOL. Mixed with distilled water, the formulation is more liquid than regular HA fillers. So, it is easy to operate, and safer than HA. At first, we started with a development goal of 3 years, but it was not easy as it took about 6 years to get approval from the Ministry of Food and Drug Safety in Korea. As the world's first PDO powder filler, it is receiving a good response in Europe.

In 2016, cosmetics were made using ‘Idebenone’, which has 4 to 10 times stronger antioxidant power than vitamin C. It was sold only in hospitals, but it was made into cosmetics, and it exceeded 100 billion won in sales in home shopping for 5 years.

It wasn't easy when you were opening a new market or developing a product for the first time of any kind. But now we can confidently say that we are a company that has originality and products Made In Korea.

Ultra V has now entered about 50 countries from Asia, Europe, South America to the Middle East. Now, we are about to sign a contract with a large Chinese pharmaceutical company, and we have also started registering with the US FDA. In 2-3 years, I think it will become a company that cover the whole world.

▲ (Photo = CEO Kwon Jin of Ultra V)

Q. I feel that the CEO has a lot to do with the growth of Ultra V. You have emerged as a K-beauty powerhouse by frequently attending lectures abroad. How is it?

I gave lectures abroad from 2008 to 2009, but at that time it was not common for Korean doctors to go abroad and give lectures. Even back then, when I heard ‘there is a certain product somewhere in Europe’, all Korean doctors would go and learn about it. But now, rather, we go to the aesthetics leading countries and give lectures.

In my case, not too long ago, I gave a lecture at a large beauty society called SEME in Spain, and IMCAS (International Master Course on Aging Science) held in Paris this January. Soon, I will be giving lectures at AMWC (Aesthetic and anti-aging Medicine World Congress) in Monaco, but there are not many Koreans giving lectures yet, and most of the lecturers are Westerners such as Europeans. Since it is the leading continent in aesthetics, questions are difficult, and unfortunately, there is an atmosphere of ignoring Asian lecturers. To go beyond that, you must have a wealth of knowledge about beauty, such as lasers, toxins, fillers, and threads, and you must speak English well.

It's difficult, but doing so seems to have raised Korea's status in the beauty and medical market. I feel proud that I have contributed to publicizing Korea's beauty medicine.

Q. I don't think it's easy to do product development and lectures along with medical treatment. Do you have a driving force that makes this activity possible?

In fact, I'm abroad 3 days a week, 3 days domestically, and a day or two on the plane. It's been over 12 years since I did that, and now that I'm in my mid-50s, it's physically difficult.

So these days, among the best doctors in Korea, I go with those who understand our products well. Even for doctors who give lectures in Korea, giving lectures abroad is actually a little burdensome. However, if we keep creating opportunities like this, it will become more natural the next time, and we think that it will eventually contribute to promoting Korea's beauty medicine.

In the case of products, we often end up in the middle due to being hit by advanced countries in terms of quality and China, which sells them cheaply in terms of price. Therefore, the goal is to continue researching and developing products with originality so that Korea can survive for a long time in the aesthetics medical market. I think that's the real Korean wave.

Q. What are your future plans and projects planned for this year?

We are currently developing products containing PDO powder and HA, and are conducting animal clinical trials. It is expected that it will be released in two years.

In addition, if our UltraCol continues to grow, we are cautiously thinking that we will be able to go public in the second half of next year or early next year.

Personally, the seminar schedule is so full that there is no gap until Christmas this year. I am planning to go to Vietnam, Hong Kong, Monaco, Germany, Portugal, etc. soon, and I will continue to visit many countries such as the Middle East, Kuwait, and Dubai to introduce newly launched products or share advanced know-how of existing thread lifting procedures."​