Hyum&c Completes Merger with Hyubena... "Leap to Healthcare Total Auxiliary Materials Company"

[Asia Economy Reporter Chunhee Lee] Huem&c announced its rebirth as a total healthcare auxiliary materials company by merging with Hubena.

Huem&c announced on the 1st that it has completed the merger process with Hubena, its 100% subsidiary. Earlier, the two companies resolved to merge at the board meeting in April with the goal of improving management efficiency and profitability. This merger is a proactive measure following Huons Group's emphasis on total healthcare auxiliary materials as a future strategic business, alongside health functional foods and medical devices.

Through this merger, Huem&c plans to expand its existing core business of cosmetic auxiliary materials by adding Hubena's pharmaceutical auxiliary materials business, thereby developing a total healthcare auxiliary materials business encompassing cosmetics, pharmaceuticals, and medical fields. This will significantly expand business areas and target markets to increase sales and improve profitability. Additionally, by utilizing integrated human and physical resources, the company aims to strengthen competitiveness and expand business synergy through efficient operations.

In the mid to long term, Huem&c plans to create a business model linking its cosmetic auxiliary materials business with Hubena's medical container portfolio, evolving into a total package specialist company leading the healthcare industry in the rapidly growing contract development and manufacturing organization (CDMO), original equipment manufacturing (OEM), and original design manufacturing (ODM) markets.

The merged corporation will be operated under the leadership of CEO Kim Juncheol. CEO Kim oversaw B2B business focusing on contract manufacturing organization (CMO) of pharmaceuticals such as eye drops at Huons. He led the growth of Huons' B2B business by securing contracts with major domestic pharmaceutical companies as well as global companies including Korea Alcon, Mitsubishi Tanabe Pharma Korea, and Korea Santen.

A Huem&c official stated, "Huem&c has been reborn as a total healthcare auxiliary materials specialist company through the merger," and added, "It will be a future growth engine of Huons Group and a new growth driver leading the domestic healthcare industry."