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Active Export Of Raw Material Of COQ10, Successfully Synthesized For The First Time In Korea
Day : 2005-05-31

Active Export Of Raw Material Of COQ10, Successfully Synthesized For The First Time In Korea

35% of sales and 63.1% of ordinary profit increased compared to next year  
Aiming at sweeping over the world market on the basis of advanced technology and manufacturing competitiveness

Daewoong Chemical(representative director: Lee Seong Jae) specializing in raw material production has shown remarkable growth, recently.

Daewoong Chemical achieved KRW 45.5 billion of sales that is increased 34.8% compared to the previous year and KRW 11.8 billion of ordinary profit that is increased 63.1% as of the end of the fiscal year. Daewoong Chemical owes such marvelous growth to expansion of the quantities of COQ10 that has been settled as principal profit source on the basis of the stable quality and key technology as well as increase of sales and operating profit with expansion of supply to overseas partners.

President Lee said “Our success resulted from positive support from the management, researchers’ passion, and cooperation among production parts,” and “Our value of manufacturing competitiveness with more industrial advantages compared to the previous technologies of advanced countries will be further spotlighted in the world market.”

The raw material synthesis technology for COQ10 invested with KRW 1 billion at least of only R&D cost is solely held by Daewoong Chemical, which is second to Japanese Nishin. Because the process is divided into 10 complex steps and it requires advanced technology, only two companies in the world have been capable of mass synthesis and production until now since it was released 30 years ago.

Concerning COQ10 being fully exported to foreign countries, Daewoong Chemical achieved the inspiring deed of export equivalent to USD 90 billion(4-ton scale) to the US and Japan etc. in the first year of launching and now has made inroads into Southeast Asia, Italia, Germany and Russia by securing solid business network over worldwide nations. It expects overseas export of USD 40 million in total(15 tons) this year.

Being recognized as secondary vitamin, COQ10 is a highly popular element in the US and Japan etc. for the actions of anti-aging and energy generation as the greatest global interest of health. Specially, it ranked first for successive 2 years in the field of health food in Japan, the trend leader of health food.

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