Wellbiotech, Balanced Growth Across All Divisions... "Aiming for Highest Sales This Year"

[Asia Economy Reporter Jang Hyowon] Wellbiotech is expected to achieve its highest sales this year. This is due to its continued growth after entering the electric vehicle (EV) charger and salmon DNA extract (PDRN) regenerative medicine businesses.

On the 27th, Wellbiotech announced that its cash cow, the multimodal transport subsidiary Roadstar CN Air, and new growth businesses are expected to show steady growth.

Earlier this year, the company boldly completed the sale of underperforming businesses and swiftly entered the new EV charger and PDRN (polydeoxyribonucleotide sodium) regenerative medicine businesses.

A Wellbiotech official said regarding the PDRN-based regenerative medicine business for future profitability, “We have solved the biggest challenge of raw material supply,” adding, “We are jointly developing extraction technology for mass production in cooperation with the Department of Marine Life Sciences at Gunsan National University.” He continued, “We plan to launch a PDRN product in injectable form within two years.”

Additionally, Wellbiotech launched the EV charger brand ‘ev LUCY’ last year and is currently on the verge of releasing a variety of products, including ultra-fast chargers. Last month, the company established a factory in Gunsan, Jeonbuk Province, and is now intensifying sales mainly in the Jeonbuk region.

Furthermore, after COVID-19, the company ventured into the distribution of diagnostic kits and development of therapeutics. It exclusively supplies SD Biosensor’s COVID-19 self-diagnostic kits to the three major convenience store chains in Korea (GS25, CU, Emart24), and this month signed a memorandum of understanding (MOU) with Salbasion for the production, sale, and distribution of the coronavirus preventive agent ‘Kovixil-V.’

The company stated, “Despite the economic downturn, we have focused on business diversification and improving the profit structure,” and forecasted, “With ev LUCY ready for mass production and sales imminent, we expect continuous benefits from the expanding electric vehicle market.”