Kim Jee-wan, CEO of Foxtron Corp., a leading hair product firm, has said he is proud of the high quality of his hair products. He also said that he is exploring ASEAN and Middle East markets.
In a recent interview with The Korea Post, he said: “If we only count on product strengths such as ingredients and effects, we are confident that we can compete against major name brand names. However, we decided to start overseas first as we lag behind in terms of brand recognition. If we go home after being recognized in foreign countries, we will be able to settle down relatively quickly. We aims to become the ‘BTS’ in the field of hair products."
|CEO Kim jee-wan of Foxtron (left) is giving explanations about hair products in Vietnam Business Forums to customers and clientele.|
Toward the end of March this year, CEO Kim took part in the Vietnam-Korea Business Partnership forum in which President Moon Jae-in also attended. CEO Kim is preparing to advance into the Vietnamese market which holds immense growth potential.
Since its establishment in 2014, Foxtron has developed a range of hair products including “Dr. Pelo,” a hair loss prevention brand and other products aimed to prevent hair loss, such as shampoo, tonic, and treatment. The firm’s performed clinical tests on 50 hair loss patients at the Korea University Ansan hospital for about a year to prove its effectiveness. Shortly after Foxtron released its own shampoo and tonic in June last year, the firm has participated in various beauty exhibitions and counseling sessions in Malaysia, Indonesia and Vietnam.
“In the domestic market, it is not easy for start-ups to compete with big firms. I believe that brand recognition is important in other areas such as healthcare and cosmetics. In overseas markets, however, foreign consumers tend to see both large and start-up Korean companies as being ‘made in Korea.’ We can compete with product strengths in a relatively equal footing without any regard to the brand,” said CEO Kim.
|CEO Kim (left) with staff members|
According to Kim, Dr. Pelo has three main ingredients: salicylate acid, L-menthol and dexpantenol. Salicylate acid penetrates the pores, remove dead cells, and produces anti-inflammatory, dandruff and exfoliation effects. L-menthol increases the body's immune system through anti-bacterial actions and pulls the skin to contract the pores to maintain a healthy skin condition. Dexpanthenol regenerates damaged skin tissue and is highly effective in moisturization and fortification of hair roots. Dr. Pelo also uses about 10 natural extracts as ingredients, such as sophora, hawthorn, rosemary and green tea, which make the hair roots strong and are effective in removing sebum and anti-inflammatory as well as skin regeneration.
CEO said: “Dr. Pelo has differentiated itself from other major natural extracts, with the highest proportion of the hair loss products available on the scalp. However, the amount of these natural extracts vary widely from product to product. Premium products may contain extracts from 10 to 20 different plants, but most of them contain less than 1% of core plant extracts. We have raised the content of these key plant extracts to 10%."
He said Foxtron is also targeting Australia and the Middle East, after making it to Southeast Asia where hallyu is popular. He opened a hair salon chain in Australia in January, while seeking to ship products to Iran and Pakistan. At the business forum in Vietnam, he said he received substantial proposals from two large local firms.
|CEO Kim with some of the products of his company|
“Before visiting Vietnam,” CEO Kim said, “I thought it would be one of developing countries. But when I got there, I felt I was wrong. Of the country’s 100 million people, young people comprise more than half of the population. I could feel not only the energy in their faces, but also strong pride and patriotism in their motherland. I will actively explore the market by setting up a Vietnamese branch as a springboard to enter the ASEAN country,” said CEO Kim.
Asked why he is eager to foray into the Middle East, he replied, "If the Korean Wave is at its peak in Southeast Asia, the Middle East is at its beginning stage. In the Middle Eastern countries, parents don't know much about Hallyu, but their children are very interested in it, as they would listen to K-pop music in tents in the middle of the desert. "
Hwi Won firstname.lastname@example.org
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