Dr. Oregonin Co., Ltd., a startup company led by Professor Choi Sun-eun from the Forest Bio-Materials Engineering Department at Kangwon National University, signed a supply contract worth $400,000 with local beauty and health distribution companies GS PEARL LLC and BAT BEKH KHAMTIIN KHUCH LLC during the "2024 International Beauty & Health Expo" held in Ulaanbaatar, Mongolia, from March 1 to 3.
This expo saw ten companies from the Gangwon region participate, selected with the support of the Gangwon Special Self-Governing Province Office, the Gangwon Special Self-Governing Province Economic Promotion Agency, and KOTRA's Mongolia trade office.
Dr. Oregonin was the only startup company to be selected. During the event, they sold out all their products early and achieved the remarkable feat of securing a contract with GS PEARL LLC, the largest beauty and health distribution company in Mongolia, amidst enthusiastic responses from local residents.
Dr. Oregonin is a specialized company in developing functional materials and products derived from natural resources. They are participating in the Forest Service R&D project "Standardization of Functional Raw Materials from Forest Resources" and have been selected for the Ministry of SMEs and Startups' TIPS (Technology Innovation Program for Startups) and the Ministry of Trade, Industry, and Energy's "R&D Rediscovery" program, conducting national R&D.
At this expo, they showcased their unique multifunctional food products developed from their research on patented substances related to sarcopenic obesity derived from native tree resources, as well as new functional hair loss products that are currently undergoing short- and long-term clinical trials. These products have gained significant popularity not only in Mongolia but also in various overseas markets.
In particular, Dr. Oregonin has developed over 15 types of anti-aging functional products and is aggressively pursuing entry into various international markets, including Mongolia, following their successful entry into Vietnam last year.
Previously, Dr. Oregonin successfully entered the Vietnamese market and has since signed multiple contracts worth $1 million, continuously gaining recognition overseas. The company has successfully established itself in the field of developing specialized anti-aging health functional pharmaceuticals.
Choi Sun-eun, CEO of Dr. Oregonin, stated, "Dr. Oregonin is achieving continuous growth, recently being selected for various projects with the Forest Service, the Ministry of Industry, the Gangwon Special Self-Governing Province, TIPS research projects, and startup commercialization support. We will enhance the completeness of our innovative materials for treating and preventing muscle loss derived from domestic tree resources and aim to secure Series A investment this year to commence human application clinical trials, working towards the development of individually recognized health functional foods utilizing native tree resources from Gangwon Province within 2 to 3 years."