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Daewoong Pet has declared 2024 as the "Year of Global Expansion" and is ramping up its efforts to become a leading global pet healthcare company, going beyond the domestic market.

Recently, Daewoong Pet, a specialist in pet healthcare, held its first town hall meeting for all employees, where it shared its achievements from 2023 and outlined its key objectives for 2024. The company announced that it is focused on becoming a global leader in the pet healthcare industry.

At the town hall, CEO Lee Hyo-jun commended the employees for their efforts in achieving the company’s remarkable success in 2023. He highlighted that 2023 was the year Daewoong Pet solidified its position as the fastest-growing pet healthcare company in the industry.

Lee emphasized the record-breaking sales growth of pet products. In 2023, Daewoong Pet’s revenue quadrupled compared to the previous year. Its premium supplement Impectamin Pet became the number one selling product in the pet supplement category on Coupang, South Korea’s leading e-commerce platform, just one year after its launch. The product showed strong growth, averaging 150% quarter-on-quarter, and recorded a 12-fold increase compared to the previous year.

Additionally, Daewoong Pet’s Epicle, the world’s first rapid-release pancreatic enzyme supplement, reached a milestone of 10,000 units sold just six months after its launch. Building on this success, Daewoong Pet is also aggressively targeting international markets. Notably, the company participated in the PET FAIR South-East Asia 2023 in Bangkok and COSME TOKYO 2024, Japan’s largest beauty and healthcare exhibition, as part of its global expansion efforts.

Furthermore, Daewoong Pet takes pride in its commitment to producing premium supplements under the Human Standard principle, manufacturing them with the same rigorous quality standards as human health supplements, thereby raising the bar for pet supplement manufacturing stability in South Korea.

In the clinical CRO (Contract Research Organization) sector, Daewoong Pet saw a more than threefold increase in revenue compared to the previous year. As the industry’s top clinical CRO, Daewoong Pet is providing global-level services and currently has six clinical projects underway, having secured three new projects in 2023.

CEO Lee Hyo-jun declared 2024 as the "Year of Global Expansion", vowing to offer the most valuable products in the market, including pet supplements, animal pharmaceuticals, and healthcare platform services. Daewoong Pet aims to become the fastest-growing pet healthcare company, not only in South Korea but on the global stage as well.

For 2024, Daewoong Pet will continue to target ambitious goals, with products like Ursa, Beazé, and Celerutin, a heartworm treatment, slated for release. The company also plans to expand the Epicle product line, which was launched in July 2023, and strengthen its pet gastrointestinal supplement portfolio to capture the market leader position in this category.

One of Daewoong Pet’s key strategies for global expansion is its clinical CRO services. The company is preparing and conducting clinical trials that meet Global Standard criteria, with a focus on high-quality management, including electronic case report forms (eCRF), developed as a first in South Korea, to meet global regulatory standards.

Lee Hyo-jun emphasized,

“2023 was the year we emerged as the fastest-growing pet healthcare company, and 2024 will be the year we make a giant leap into the global pet healthcare market. Along with the company’s growth, we are also focused on creating a corporate culture where all employees can take pride and find fulfillment.”