Hugel Selected as 'Outstanding Corporate Research Institute for the First Half of 2022' by Ministry of Science and ICT

At the '2022 First Half Outstanding Corporate Research Institute Designation Ceremony,' Odonghun, Executive Director of Hugel (right), is receiving the designation certificate from O Taeseok, Vice Minister of the Ministry of Science and ICT.

[Asia Economy Reporter Lee Gwan-ju] Hugel announced on the 27th that its corporate research institute was selected as an 'Excellent Corporate Research Institute for the First Half of 2022' by the Ministry of Science and ICT.

The Excellent Corporate Research Institute designation project is a system established by the Ministry of Science and ICT to promote qualitative growth of domestic industrial technology. It selects companies with outstanding technological innovation capabilities and high value creation and potential, nurturing them as benchmarking models. The status of an excellent corporate research institute is maintained for three years, with benefits including a certificate and plaque, government awards, and preferential selection for national research and development projects.

Hugel was recognized externally for its R&D excellence by being designated again as an excellent corporate research institute following 2018. Hugel composes 80% of its R&D personnel with master's and doctoral degree holders and invests more than 7% of its annual sales in R&D, focusing on the development of next-generation botulinum toxin. For its flagship product, botulinum toxin 'Botulax,' clinical trials are underway to expand indications to conditions such as overactive bladder, cervical dystonia, and benign prostatic hyperplasia. Additionally, various formulations such as liquid-type pain-free toxin and microneedle patch-type toxin are being developed to enhance procedural convenience and safety.

A Hugel official said, “We are honored to have our R&D capabilities and innovativeness recognized once again through this excellent corporate research institute selection. We will spare no investment and effort to improve our technology until we provide diverse medical aesthetic solutions needed by customers and medical professionals, surpass domestic number one status, and establish ourselves as a leading global medical aesthetic company that leads global trends.”

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