[IPO] Lee Haegwang, CEO of P&K, "Going Public to Become the Best Beyond Being the First"

First in Industry to Enter KOSDAQ with Skin Human Application Test
Leading the Market by Developing New Testing Methods
Subscription Open to General Investors for Two Days Starting the 31st

[Asia Economy Reporter Hyungsoo Park] Lee Hwa-kwang, CEO of P&K Skin Clinical Research Center, held a pre-IPO press conference on the 26th in Yeouido, Seoul, stating, "We are preparing to directly enter overseas markets for the first time as a cosmetics clinical institution, aiming to start human application trials in China."

Founded in 2010, P&K is the first human application testing specialized company established by a medical doctor in Korea. P&K is a subsidiary of Daebong LS, a company specializing in active pharmaceutical ingredients and cosmetic raw materials. It possesses objectivity, verification capabilities, and the ability to develop new testing methods related to human application trials.

P&K has signed a Memorandum of Understanding (MOU) with BASF, the world's largest comprehensive chemical company, to share clinical technologies and data. P&K is recognized for its reliability by its clients, maintaining steady business relationships with Amorepacific, AHC, LG Electronics, LG Household & Health Care, among others. It has also established cooperative relationships with various distribution channels, including home shopping.

CEO Lee said, "Our clients conduct overseas marketing using P&K's research results," adding, "The number of English reports issued for overseas marketing purposes increased from 84 in 2017 to 222 in 2019."

He continued, "P&K develops various testing methods based on medical knowledge," and "We were the first to introduce human application trials domestically."

Park Jin-oh, CEO of Daebong LS and chairman of P&K's board, graduated from Yonsei University College of Medicine, and CEO Lee holds a doctorate in skin science. He worked as a researcher at the School of Medicine, University of Wales, UK. Lee introduced himself, saying, "I gained experience and know-how in human application fields while working as a technical researcher at Amorepacific," and "Our research results are published annually in international academic journals, attracting interest from overseas companies."

He emphasized, "Through the industry's first introduced ‘Data Science Lab,’ we analyze market trends and continuously develop new protocols," adding, "We also provide clinical consulting to our clients."

P&K leads the market by developing new testing methods through high research capabilities and active research and development (R&D) investment. It developed Korea's first anti-pollution test method to block fine dust. The efficacy test for cosmetics that alleviate red lines caused by stretch marks was adopted as a guideline by the Ministry of Food and Drug Safety. P&K also developed Korea's first testing methods using Raman spectroscopy and efficacy evaluation tests for LED masks.

CEO Lee said, "The LED mask efficacy evaluation test contributed to the growth of the skin beauty device market," adding, "Clients used human application test results for global marketing."

Due to the rapidly increasing number of tests conducted annually, P&K plans to establish a new branch next year. The new branch will specialize in areas related to antimicrobial, health care, and hygiene concerning COVID-19.

Based on continuous technological investment, P&K is also pushing for entry into the Chinese market. CEO Lee explained, "The Chinese beauty market, with great potential, offers many opportunities," adding, "The Chinese government will implement new cosmetic supervision and management regulations starting next year."

He continued, "We have been preparing for entry into China for a long time and have completed consulting for the market entry," expressing confidence that "there should be no problems with entering next year."

He stated, "P&K aims to be the best beyond being the first," and "We will continue to grow through overseas expansion and the expansion of customized business areas based on our listing."

P&K will conduct demand forecasting over two days from the 25th to the 26th. Subscription for general investors will be held on the 31st and the 1st of next month. The lead underwriter is Mirae Asset Daewoo.

This content was produced with the assistance of AI translation services.