#SPECIAL INTERVIEW
2015.03.27
CEO of AESTURA, Lim Woon-sup
SPECIAL
INTERVIEW
INTERVIEW
Special interview with members of the board aims to share the leadership's vision and promote seamless global communication
The fertile estuary of the Euphrates has been called the cradle of civilization.
Just so, AESTURA is the font of medical beauty
CEO of AESTURA, Lim Woon-sup
In March when everything comes alive again, Pacific Pharmaceuticals made a fresh start as a medical beauty specialist under a new name - AESTURA. The recent boom in K-beauty has led to an increase in the number of Chinese tourists (so-called Youke, 游客) and rapid growth in the medical beauty market as well. Indeed, the medical beauty market is moving toward widespread convergence, blurring boundaries between formerly disparate areas. Lim Woon-sup has marked the first year of his time as CEO of AESTURA by pursuing challenge and innovation to explore and be at the forefront of this long-term market trend. Here, we meet Mr. Lim and ask him about his charismatic and visionary leadership of AESTURA.
Q. Hello, Mr. Lim. Please, tell us a little about AESTURA.
As its name suggests, Pacific Pharmaceuticals was a manufacturer working in the pharmaceutical industry. In 2011, however, it pivoted towards the medical beauty market, having established a Medical Beauty Business Unit. As the medical beauty business is actually part of the broader beauty business, it had to strengthen its identity as a brand company, rather than a manufacturer. For this reason, it changed its name to AESTURA and declared a new AESTURA Way with vocation and vision.
AESTURA is derived from the word 'Estuary,' which means a fertile delta. Famously, great ancient civilizations have been founded and gone onto flourish in just such estuaries. The name represents our vocation at AESTURA: ultimately, where cosmetics meet medicine and customers meet doctors, we will bring about a whole new civilization of medical beauty to help people find beauty. AESTURA is a great, unique leader in its field, creating healthy beauty based on medical expertise acquired in hospitals and clinics.
AESTURA will become an Asian champion medical beauty brand company powered by its dual core values of aesthetics, a collection of surgical solutions including Cleviel, Meditoxin and Retense, and AESTURA, which is a dermacosmetic brand offering ATOBARRIER, THERACNE and REGEDERM.
As its name suggests, Pacific Pharmaceuticals was a manufacturer working in the pharmaceutical industry. In 2011, however, it pivoted towards the medical beauty market, having established a Medical Beauty Business Unit. As the medical beauty business is actually part of the broader beauty business, it had to strengthen its identity as a brand company, rather than a manufacturer. For this reason, it changed its name to AESTURA and declared a new AESTURA Way with vocation and vision.
AESTURA is derived from the word 'Estuary,' which means a fertile delta. Famously, great ancient civilizations have been founded and gone onto flourish in just such estuaries. The name represents our vocation at AESTURA: ultimately, where cosmetics meet medicine and customers meet doctors, we will bring about a whole new civilization of medical beauty to help people find beauty. AESTURA is a great, unique leader in its field, creating healthy beauty based on medical expertise acquired in hospitals and clinics.
AESTURA will become an Asian champion medical beauty brand company powered by its dual core values of aesthetics, a collection of surgical solutions including Cleviel, Meditoxin and Retense, and AESTURA, which is a dermacosmetic brand offering ATOBARRIER, THERACNE and REGEDERM.
Medical beauty is a combination of medicine and cosmetics. In other words, it is a generic term for solutions provided for people's beauty through hospitals and clinics. Though the medical beauty market has lower barriers to entry than other sectors of the pharmaceutical industry, the dominant trend in this market can change fast and it is vital to remain constantly competitive. As a consequence, marketing campaigns have to be turned around at breakneck speed.
In the past, there was a clear boundary between mass beauty and medical beauty, with both having their own independent domains. Today, those boundaries have blurred. It is our mission to integrate them.
In particular, hospitals and clinics in Korea, including both plastic surgery centers and dermatology clinics, have seen rapid growth, in part driven by the increasing influence of K-beauty across Asia. In 2013, many foreign patients came to Korean, with a sizeable 53% of them coming for cosmetic surgery. This number is expected to grow further. With the changing social perception of cosmetic surgery and the increased affordability, the number of Koreans having cosmetic surgery is also growing at a double-digit rate.
Q. What is AESTURA most concerned about at the moment? What would like to achieve by the end of 2015?
With our vocation and vision encapsulated by our new corporate name, it is our top priority in 2015 to build a framework for sustainable business. Specifically, we have set ourselves the goal of first taking the largest share of the Korean market as a medical cosmetics brand and then putting Cleviel amongst the top three in the premium filler market.
We will enhance our competence in development and approved, clinical testing to turn our innovative pipeline into products for future growth and gain a new dynamic for growth in 2016 and 2017.
We also have to gear up for the Asian market beyond Korea. Our plan is to push forward with the export of Cleviel to some countries in Asia and gain a better understanding of the Chinese medical cosmetics market.
With our vocation and vision encapsulated by our new corporate name, it is our top priority in 2015 to build a framework for sustainable business. Specifically, we have set ourselves the goal of first taking the largest share of the Korean market as a medical cosmetics brand and then putting Cleviel amongst the top three in the premium filler market.
We will enhance our competence in development and approved, clinical testing to turn our innovative pipeline into products for future growth and gain a new dynamic for growth in 2016 and 2017.
We also have to gear up for the Asian market beyond Korea. Our plan is to push forward with the export of Cleviel to some countries in Asia and gain a better understanding of the Chinese medical cosmetics market.
Q. We look forward to the future of AESTURA leading the medical beauty market. What strategy and vision does AESTURA pursue?
The 2020 Vision of AESTURA is to become Medical Beauty Asia Champion. Medical Beauty is best defined as beauty solutions implemented through innovative technology in hospitals and clinics with the help of expertise. Asia Champion defines AESTURA being the No.1 in the Asian hospital channel with Cleviel as one of top 3 premium fillers in Asia, along with four products making 10 billion KRW in sales and solid training of the best medical beauty experts.
The 2020 Vision of AESTURA is to become Medical Beauty Asia Champion. Medical Beauty is best defined as beauty solutions implemented through innovative technology in hospitals and clinics with the help of expertise. Asia Champion defines AESTURA being the No.1 in the Asian hospital channel with Cleviel as one of top 3 premium fillers in Asia, along with four products making 10 billion KRW in sales and solid training of the best medical beauty experts.
I majored pharmacology at undergraduate and graduate level, and subsequently joined a research lab of a major pharmaceutical company. After working for three years there as a researcher, I moved to a development department of the same company to gain vital business experience. Then, in 2002, I joined the Marketing Team of Pacific Pharmaceuticals as PM (Product Manager) for antibiotics, which is where I first got to know AMOREPACIFIC Group. After that, I was promoted through to be the leader of Ketotop Team and leader of the Marketing Planning Team.
In 2011, Pacific Pharmaceuticals was divided into the Pharmaceutical Business Unit and the Medical Beauty Business Unit, and I was appointed manager of the Marketing Team, the Medical Beauty Business Unit, which was my initiation into the world of medical beauty. Then, in 2012, I took on the role of head of the Marketing Division, the Medical Beauty Business Unit and, in July 2014, I was appointed CEO.
Q. What has been a particularly memorable moment since working for AMOREPACIFIC Group?
Looking back, I had both good and sad moments, but the most memorable moments include the launch of the medical beauty business unit in 2011, the transfer of the pharmaceutical business unit last year and the changing of the corporate name to AESTURA this March. All of these times represent a series of important decisions made to set the business direction towards us becoming a medical beauty specialist. As such, they each represent milestones on the way to switching over from the pharmaceutical business to the beauty business.
Looking back, I had both good and sad moments, but the most memorable moments include the launch of the medical beauty business unit in 2011, the transfer of the pharmaceutical business unit last year and the changing of the corporate name to AESTURA this March. All of these times represent a series of important decisions made to set the business direction towards us becoming a medical beauty specialist. As such, they each represent milestones on the way to switching over from the pharmaceutical business to the beauty business.
Recently, our organization has grown much younger and, to that extent, I have been active in communicating with members. Internal communication channels have been strengthened to help share experience and information, particularly given that ours is a fledging business. I also hold a monthly meeting with team managers, and a talkfest 2-3 times a month whenever coaching or problem-solving is required to address an issue. Plus, I hold a round-table lunch/dinner with 2-3 teams once a month to talk and listen what they have to say.
Because the medical beauty is a newborn business, there are many things to do and many technologies that we need to learn. All members now pursue a life of challenge, with each and every single person being given a lot of work, even things that they will have never done before. And I think this is the opportunity – and the challenge. We all have a spirit that loves taking on this challenge, in the sense that we develop products that are different from our competitors and implement our own, unique marketing strategy.
Q. What kind of leader would you like to be?
We lack experience and insight because it is not long since we started out in the medical beauty business. We have also faced unexpected troubles and, on occasion, we can be forced to deal with things head on, such as a new venture. At the moment, AESTURA needs a leader who is accountable for the change program and makes things work. This is the kind of leader that I have to be, and I would like to be.
We lack experience and insight because it is not long since we started out in the medical beauty business. We have also faced unexpected troubles and, on occasion, we can be forced to deal with things head on, such as a new venture. At the moment, AESTURA needs a leader who is accountable for the change program and makes things work. This is the kind of leader that I have to be, and I would like to be.
Q. Let us wrap up this interview with Our Value that you see as most important. Thank you for your precious time.
Innovation and Challenge are the two elements of Our Values that are most important to AEUSTRA at the moment. Not many years ago, a single botox treatment for reducing wrinkles cost millions of won. Today, it costs less than 50,000 won and it gives a more dramatic effect than any other competitor products. Little wonder that more and more people are getting botox rather than purchasing anti-wrinkle cosmetics. In the past, botox was not a direct rival to cosmetics, but it is now.
We are living in an age of convergence, in which domains merge together. As medical beauty has to respond to technical trends in the ever-changing beauty market while also reflecting new insight, I believe that the best Values we need are Innovation and Challenge.
Innovation and Challenge are the two elements of Our Values that are most important to AEUSTRA at the moment. Not many years ago, a single botox treatment for reducing wrinkles cost millions of won. Today, it costs less than 50,000 won and it gives a more dramatic effect than any other competitor products. Little wonder that more and more people are getting botox rather than purchasing anti-wrinkle cosmetics. In the past, botox was not a direct rival to cosmetics, but it is now.
We are living in an age of convergence, in which domains merge together. As medical beauty has to respond to technical trends in the ever-changing beauty market while also reflecting new insight, I believe that the best Values we need are Innovation and Challenge.
Perfect for sensitive skin!
- AESTURA ATOBARRIER
AESTURA ATOBARRIER has marked annual growth rate of 30% in recent years. It is a line of deep hydration products that absorbs fast into the skin to strengthen the skin barrier, while also replenishing the skin's moisture. I am also proud to say that it is reliable and safe to use, even on sensitive skin and/or atopic dermatitis. Plus, it is good for new mothers because it is free of colorants, fragrance and preservatives.
Perfect for acne-prone skin!
- THERACNE
THERACNE is a combination of two words: 'therapy' and 'acne.' It is effective in the treatment of acne. It effectively lessens the reddish appearance of acne to soothe and keep the skin clean and smooth. In fact, a large number of customers who experience the product go on to make repeat purchases. If you or your family members are concerned about acne and pimples, I would highly recommend THERACNE.
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