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Korean biopharma CEO sees LA-OC to become cosmetics district in 10 years

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“We will invest $100 million to build the first filler plant in California,” announced Jaeyoung Kim, CEO of Jetema, a biopharmaceutical research, development, and manufacturing company listed on the KOSDAQ in South Korea, as the company enters the U.S. market.

Founded in 2009, Jetema specializes in research, development, and manufacturing of biopharmaceuticals, including hyaluronic acid fillers and botulinum toxin (Botox) for facial aesthetic purposes. In 2017, Jetema’s “e.p.t.q.” filler received approval from the Korean Ministry of Food and Drug Safety and is currently exported to 60 countries.

Jaeyoung Kim, CEO of South Korean biopharmaceutical company Jetema, explains the company’s plans for the U.S. market. [Eunyoung Lee, The Korea Daily]

With an average annual sales growth of 40% over the past four years, Jetema has focused on global expansion, reinvesting profits into research and development.

In December, Jetema established its U.S. subsidiary, Jetema USA, in Irvine, recognizing the U.S. as the world’s leading market for botulinum toxin, accounting for about 70% of the total market share.

Jetema’s proprietary JTM201, intended for the treatment of severe glabellar lines, is undergoing clinical trials at 15 centers across the U.S., marking the company’s expansion into the botulinum toxin market.

Jetema CEO Jaeyoung Kim stated, “There are only four filler products sold in the U.S. and no filler factories, so there is a large market potential. We will build the U.S.’ first filler factory in California.”

Acknowledging Korea’s saturated plastic surgery industry, Jetema aims to leverage its treatment technology, quality products, and competitive costs to enter the U.S. market, enhancing the global presence of K-beauty.

Jetema plans to enter the medical spa market by launching a management service organization (MSO) in the second half of the year, targeting more than 100 medical spas in the LA-OC region. The company will provide products, training, and HR services, particularly focusing on preparing nurses (NPs, RNs) for the increasing demand for botox and filler treatments.

Kim envisions Buena Park’s Beach Boulevard in Orange County as a potential hub for K-beauty, citing the thriving medical spas in the area reminiscent of Seoul’s Apgujeong-dong.

“We are investing a total of $100 million in botox clinical trials and a filler factory,” Kim stated, emphasizing the significance of this investment as a pivotal step toward the globalization of K-beauty.”

BY EUNYOUNG LEE, HOONSIK WOO [lee.eunyoung6@koreadaily.com]