CGBIO Co., Ltd. (CEO Hyun-Seung Yu), a company specializing in bio-regenerative medicine, announced on the 14th that it had established a CGBIO Indonesia corporation in Bali, Indonesia.
The corporate name of CGBIO Indonesia is CGBIO NEOREGEN Indonesia (hereinafter referred to as NEOREGEN). NEOREGEN means “newly (NEO)” and “regenerate (REGEN)”. It was established to contribute to quality of life for customers by providing advanced medical technology and services based on CGBIO’s regenerative medical technology in Indonesia.
Indonesia has the 4th largest population in the world and the largest Muslim population globally. It is the only G20 country in Southeast Asia and consists of an archipelago of more than 5,000 km from east to west. It’s potential as a developing world power, favorable feelings for the Korean Wave, and the elimination of high tariffs due to the settlement of a comprehensive economic partnership agreement (CEPA) create positive factors for Korean companies to achieve advancement and trade.
In addition, as the standard of living is improving in Indonesia, the size of the middle class with purchasing power is increasing. It is also recognized as an attractive market for Korean companies that it is emerging as a new consumer market with increasing interest in global brands due to rapid urbanization.
CGBIO established an Indonesian corporation by highly evaluating Indonesia’s marketability and potential. We operate the Medical Aesthetic Clinic, which provides a variety of treatments using CGBIO’s medical aesthetic products and medical devices. It will also be used as a base for distributing and supplying its products to Indonesia.
CGBIO’s Medical Aesthetics refers to a total cosmetic surgery solution that combines know-how in the field of regenerative medicine based on bio-material medical technology with aesthetic procedures. Since its establishment in 2006, CGBIO has become a specialized regenerative medicine company and has contributed to many people’s quality of life.
In the future, CGBIO plans to actively invest in the local area, such as establishing a stem cell laboratory and factory for product research and production, as well as developing it as a hub for entering the Middle East and Asian markets by acquiring HALAL certification for medical devices with local partners.
NEOREGEN provides comprehensive cosmetic surgery procedures for Indonesian locals and tourists, such as filler procedures, breast massagers, and breast enlargement solutions through stem cell fat transplantation. In particular, it aims to make NEOREGEN a medical tourism mecca in Southeast Asia by taking advantage of its characteristics as a space capable of “Medical Tourism”, a high value-added industry that combines advanced medical levels and tourism resources.
NEOREGEN is located in Legian, Bali, and there are major attractions such as Tugu Bali, Kuta Beach, Seminyak Beach, Legian Beach, and Double Six Beach nearby. Therefore, it is expected to increase the accessibility of local residents and tourists, and it is expected to create jobs for local people for the operation of the clinic.
Hyun-Seung Yoo, CEO of CGBIO, said, “Indonesia is one of the countries with the highest economic growth potential in the world. In response, CGBIO will use its Indonesian corporation as a bridgehead to advance into Southeast Asia in the future and accelerate overseas expansion of its clinical medical aesthetic business”.
