The Bio regenerative medicine company CGBio (CEO Hyun-seung Yu) has announced on March 13 that the company will establish its medical aesthetic clinic ‘NULOOK’ in Bali, Indonesia and utilize it as a base for medical tourism in Southeast Asia.
NULOOK is a medical aesthetic clinic that provides general cosmetic surgery procedures based on biomedical technology and is operated with two main purposes.
First, NULOOK will provide superior cosmetic surgery procedures from Korea in Indonesia and it will position itself as a location to experience ‘high-quality K-beauty’ in the local area without the patients having to make the trip to Korea. For this purpose, the clinic has imported the cosmetic surgery products of CGBio and the latest equipment and tools from Korea and the clinic will specialize in complex procedures and stromal vascular fraction (SVF) procedures.
CGBio will develop a new K-beauty complex procedure training protocol and regularly conduct training for the medical staff working at NULOOK to develop the clinic into one with a top-tier cosmetic surgery technology within Indonesia.
Second, the clinic will be operated as a ‘medical staff training center’ where the local medical staff working in cosmetic surgery industry will be trained. The clinic will train the medical staff in Southeast Asia through regular webinars and visiting training provided by outstanding Korean medical staff leading K-beauty.
Through these directives, the clinic will establish itself as a clinic that can be trusted where local surgeons are trained among the medical staff in Southeast Asia and the clinic will ultimately help in providing the corrective and effective procedures to patients to contribute to improving the quality of life for the people of Indonesia.
Despite having the 4th highest population in the world, Indonesia only has a ratio of doctors per thousand people at 0.6 , which is significantly lower compared to the other countries in the region. As a result, 5,716 medical tourism visitors traveled to Korea in 2019 and 30% of them were tourists looking to undergo cosmetic surgery procedures. The interest level in K-beauty has been increasing rapidly as Korean dramas and K-POP grew in popularity years ago.
Furthermore, Indonesia is the only member country of G20 in Southeast Asia that consists of an archipelago spanning across over 5,000km from east to west and the government’s recent policies such as the repeal of high tariffs through the conclusion of the Comprehensive Economic Partnership Agreement (CEPA) has been acting as a positive element for Korean companies to expand into Indonesia as the country’s potential to grow has been increasing as of late.
Also, with the quality of life improving, there is an increase in the middle-class population with purchasing power and with rapid urbanization, people’s interest in cosmetic surgery is increasing thus making Indonesia surge as a new consumption market and this is one of the reasons why NULOOK is being established in Indonesia.
CGBio has explained that Bali was especially deemed as a space with potential for high value-added industry of ‘medical tourism’ combining advanced medical care and tourism resources thus making it the location for the first opening of NULOOK clinics in Indonesia.
Furthermore, there are numerous well-known tourist attractions including Tugu Bali, Kuta Beach, Seminyak Beach, Legian Beach and Double Six Beach around NULOOK. Therefore, the company is expecting improved accessibility not only for local residents but tourists as well and the clinic is projected to generate local jobs for its operations.
CGBio CEO Hyun-seung Yu stated, “Indonesia is one of the countries in the world with a huge economic growth potential and high level of interest in cosmetic surgery. So CGBio will expand its business across Southeast Asia through NULOOK while also contributing towards many people in Indonesia living a young and healthy life through the advanced cosmetic surgery technology of Korea.”
▲ CGBio to Establish a Medical Aesthetic Clinic ‘NULOOK’ in Bali, Indonesia
▲ ‘NULOOK’ LOGO
