On January 23, bio-regenerative medicine company CGBIO (CEO Hyun-seung Yu) announced that the company had been awarded the ’10 Million USD Export Tower’ award at the 59th Trade Day Award Ceremony held at COEX in Samseong-dong, Seoul.

The ’10 Million USD Export Tower’ award is an award given to a company that has contributed to increasing export overseas for the country at a ceremony hosted by the Korea International Trade Association and sponsored by the Ministry of Trade, Industry and Energy. Candidates are qualified for the award upon renewing their prior ‘Export Tower’ award given in the past, and awarded the prize upon achieving more than 10 million USD (approx. KRW 10 billion) in annual exports.

CGBIO was first awarded the ‘1 Million USD Export Tower’ award in 2015, followed by the ‘3 Million USD Export Tower’ award in 2019, ‘7 Million USD Export Tower’ award in 2020, and the ’10 Million USD Export Tower’ award this year.

This year, the company’s export performance for alternative bone substitutes and hyaluronic acid (HA) fillers was noteworthy.

CGBIO has concluded an export agreement for alternative bone substitute Bongros worth approximately KRW 100 billion over five years with the Chinese medical appliance manufacturer Shanghai Sanyou Medical, and concluded an export agreement for alternative bone substitute Bongros Dental worth approximately KRW 10 billion over five years with Kerunxi Medical. Also, the company has concluded a supplier agreement for Novosis worth approximately KRW 5 billion with Kable Farma, one of Indonesia’s largest pharmaceutical manufacturers, to further accelerate its domination in the alternative bone substitute market overseas.

Also, CGBIO has previously concluded supplier agreements for hyaluronic acid (HA) fillers Giselleligne, AiLEENE, and Facetem worth KRW 40 billion and KRW 18 billion, respectively, with Amore Aesthetics based in Australia, Karma Medical based in the Middle East and Vitatech based in South America.

CGBIO CEO Hyeon-seung Yu stated, “The 10 Million Export Tower Award this year signifies that CGBIO has taken a step closer towards becoming a global regenerative medicine company” and continued, “We will continue to strive to supply outstanding and innovative products throughout the world by actively pioneering new sales channels overseas and expanding our market.”