GC Wellbeing, a health/functional food manufacturer, said it signed a new export business agreement with YooYoung Pharmaceutical to enter the Chinese filler market.

Under the accord, the two companies aim to develop, produce, market, and sell products specifically for the Chinese filler market, with additional discussions underway to expand into Southeast Asian markets.

YooYoung Pharmaceutical, which has 20-plus years of experience in HA (hyaluronic acid) formulation production, plans to use its proprietary HIVE (Hybrid Technology Improving Viscosity and Elasticity) technology for the partnership.

This technology is credited for creating biphasic fillers with enhanced viscoelasticity and stability. Notably, in early December last year, YooYoung Pharmaceutical received approval from China's National Medical Products Administration (NMPA) for its hyaluronic acid filler product.

GC Wellbeing, having previously secured a supply contract in 2022 with GC China Pharm in China, has set a sales target of 40 billion won ($29.9 million) for HA fillers by 2030.

A GC Wellbeing official said the partnership with YooYoung is part of GC Wellbeing's plans to diversify its business into the aesthetic field as a new growth engine, further strengthening its position in the market.