Hugel Inc., a leading global medical aesthetics company, held its 24th annual shareholders meeting at Sejong Hotel in Chuncheon, the city where the company is headquartered, on March 31.
The meeting approved six resolutions including the financial statements for 2024, the appointment of board directors and audit committee members, and the approval of the director remuneration limit.
The company announced its record earnings for 2024, such as KRW373.0 billion in net sales, KRW166.2 billion in operating profit, and KRW143.1 billion in net profit, based on consolidated financial statements.
Representative Executive Officer Chulmin Park chaired the annual meeting and shared a vision for the company’s continuous growth.
“On behalf of all employees, I sincerely appreciate our shareholders’ consistent support and encouragement that helped the company achieve record performance amid the challenging economic conditions last year. Hugel will continue to achieve tangible results in the domestic and global markets with our flagship products, botulinum toxin and hyaluronic acid fillers, and cosmetics, our new growth driver”, Park said.
Hugel implemented a soft launch of its botulinum toxin product Letybo in the US earlier in March, the global No. 1 botulinum toxin market, and plans to quickly establish its presence there with differentiated sales and marketing strategies.
Hugel also strives to raise market share in Europe and China, which are among the three largest botulinum toxin markets, along with the US. The company will accelerate its business in Middle Eastern countries including the United Arab Emirates in the middle of this year.
At the meeting, Hugel tapped Heo Jun-nyeong, Head of the Future Business Team and Vice President of GS Holdings Corp., as a non-executive director, and reappointed two other non-executive directors, two outside directors, one of which is an audit committee member, and two other audit committee members. The company also approved setting the board director compensation limit at KRW4.0 billion and granting stock options to employees.
In the meantime, Hugel will continue responsible management practices to increase corporate value and enhance shareholder engagement. As part of its shareholder return policy, the company has bought about KRW470.0 billion worth of its shares back and retired more than 570,000 shares since 2016. The company repurchased KRW170.0 billion worth of its stock in 2024 alone.
About Hugel
Established in 2001, Hugel is a global leader in medical aesthetics, specializing in the production of injectables for skin rejuvenation, including botulinum toxin, hyaluronic acid fillers, and skin boosters, as well as absorbable sutures and cosmetic products. As the market leader in injectable aesthetics in South Korea, Hugel is the only South Korean company with regulatory approvals in the world's three largest botulinum toxin markets: the US, China, and Europe. With a proven track record of safety and quality, Hugel is deeply committed to advancing the industry through robust medical affairs, comprehensive training programs, and dynamic industry forums. Over the past 20 years, the company has built a presence in approximately 70 countries and operates eight global subsidiaries across South Korea, the US, Australia, Canada, Taiwan, China, Hong Kong, and Singapore. Leveraging strong industry momentum, Hugel is poised for continued growth and global market expansion.
(Photo caption) Hugel held its 24th general meeting of shareholders at Sejong Hotel in Chuncheon, Gangwon Province in South Korea, on March 31
