South Korea’s leading medical aesthetic companies are reporting impressive growth for the first half of 2026, driven by a robust surge in exports of botulinum toxin, dermal fillers, and skin boosters. As the domestic market faces slowing growth, these companies are successfully leveraging global demand to secure new revenue streams and achieve historic profit margins.
Hugel reported record-breaking first-half results, with consolidated revenue of 254.5 billion KRW and an operating profit of 103.7 billion KRW, reflecting an operating profit margin of 40.7%. Exports of their core products—toxins, fillers, and skin boosters—reached 162.1 billion KRW, accounting for approximately 64% of total revenue. Sales in the Americas, including the United States and Brazil, more than doubled compared to the same period last year, while their footprint in the Asia-Pacific and European markets also expanded significantly.
PharmaResearch also celebrated its best-ever half-year performance, recording 324.8 billion KRW in revenue and 123.8 billion KRW in operating profit. Exports surged by 47% compared to the previous year, totaling 142.8 billion KRW. This growth was fueled by the popularity of the "Rejuran" skin booster in Europe and a notable 92% spike in cosmetic exports, which served as a major engine for the company’s global expansion.
Daewoong Pharmaceutical highlighted the success of "Nabota," its signature botulinum toxin product. Nabota’s exports reached 153.7 billion KRW in the first half, with over 90% of its revenue generated overseas. Notably, Nabota achieved 103.4 billion KRW in second-quarter revenue alone, marking the first time a single item from the company surpassed 100 billion KRW in quarterly sales. The strong demand for the product in North American and European markets suggests that this positive momentum will continue into the third quarter.
Medytox reported 129.3 billion KRW in revenue and 12.3 billion KRW in operating profit for the first half of the year. While second-quarter profits were slightly impacted by costs associated with business expansion, the company continues to see growth centered on overseas markets. Looking ahead to the second half, Medytox expects significant export growth in regions including Brazil, Thailand, and Saudi Arabia, alongside the rollout of its next-generation toxin, "Newlux," and the expansion of its hyaluronic acid filler, "Neuramis."
Industry experts attribute this continued success to the rising global popularity of K-Beauty. Shin Min-soo, a researcher at Kiwoom Securities, noted that spending by foreign medical tourists at Korean dermatology clinics reached record levels in June. He further added that with the strengthening export trends for toxins and fillers, coupled with the upcoming launch of K-Beauty-themed exchange-traded funds (ETFs) in the United States, the robust growth trajectory for these major Korean aesthetic firms is expected to continue throughout the year.
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