The South Korean company which is into its 92nd year has prioritised the domestic market for the most part. It is known for its OTC medicines, energy drinks sold under the brand Bacchus, and kids supplements marketed as MiniMax in its home market.
More recently, it is known for being the exclusive distributor of German supplement brand Orthomol in South Korea, which has stirred a new wave of demand for liquid vial and tablet type supplements.
Exhibiting at Vitafoods Asia for the first time, the company told us that it would look to overseas markets to continue growing its total sales.
“We have focused on the domestic market during the past 92 years. Now, we’ve reached a stable level of growth in South Korea and to achieve further growth, we will need to expand overseas.
“This year, we are working hard to increase our total sales and scope and so we are trying to expand into markets where there’s growth potential.
“By attending tradeshows, we can test and find out if our current range of products fits well in the overseas markets,” So-Hyun Kim, HealthCare Biz Brand Team 2 brand manager at Dong-A Pharm told NutraIngredients-Asia.
During the three-day tradeshow, there has been exceptionally strong interest in its kids supplements range MiniMax.
The range, consisting of multivitamins, minerals, and propolis, are targeted at various health areas, including immunity, eye, brain, bone, and digestive health.
Available in capsules, gummies, and oral sprays, MiniMax is also one of its flagship brands in South Korea.
“MiniMax has a long history in South Korea and is something that has been taken by two generations of Koreans during their childhood.
"Parents today are buying these products which they had during their childhood to their kids,” she said, adding that these products were developed out of their R&D centre in Seoul.
Aside from its long legacy, the brand is also big on not using synthetic colours and artificial flavours, which she said were other factors contributing to its popularity among Korean parents.
On top of kids supplements, the company is also planning to grow in South East Asia (SEA) with its beauty-from-within brand ILO.
Started only three years ago, the brand comprises of type I collagen drink and skin whitening powder sachet made with glutathione, vitamin C, E, and white tomato concentrated extract.
“The brand has been a big hit in South Korea, and we are hoping to introduce it to overseas markets,” said Kim.
ILO made its overseas debut in eBay Japan back in June.
The brand is also expanding into the area of weight management on top of beauty-from-within.
She added that the company would prioritise not only SEA and Japan, but also China for overseas expansion before considering the US and European markets.
Two-pronged approach
The company has developed a global business team strategising on exporting its house brands to overseas markets, as well as introducing and localising successful foreign brands, such as Germany's Orthomol, back in the domestic South Korean market.
Kim added that the company would continue to maintain its domestic market by creating new brands that could bring impact to the market.
