Injectables, Lasers and Korea's Medical-Beauty Tourism — 2026-10-08
South Korea's National Assembly audit reveals that dermatology and plastic surgery accounted for 1.54 million foreign patient visits last year, with VAT refunds for aesthetic procedures reaching 196.4 billion won. Meanwhile, major Korean toxin manufacturers are diverging in the US market, with Daewoong and Hugel expanding while Medytox remains stalled in FDA approval limbo.
Injectables, Lasers and Korea's Medical-Beauty Tourism — 2026-10-08
Top developments
National Audit Reveals 1.54 Million Foreign Patients in Dermatology and Plastic Surgery
On October 8, 2026, data released during the National Assembly audit confirmed that foreign patient visits to dermatology and plastic surgery clinics reached 1.54 million in the previous year. The report highlighted that Value Added Tax (VAT) refunds related to cosmetic procedures for foreign tourists amounted to 196.4 billion won (approx. $145 million USD), underscoring the massive economic impact of "K-Beauty" medical tourism. This data solidifies the shift where aesthetics, rather than general healthcare, drives Korea's medical tourism revenue.
Hugel Expands Beyond Toxins to Skin Boosters; Daewoong Gains US Share
Hugel Inc., a leading Korean botulinum toxin manufacturer, announced on October 8 that it is aggressively expanding its product lineup beyond Botox and fillers to include skin boosters, aiming for 1 trillion won in sales within three years. The company is transitioning its US product "Letybo" to a direct sales model by 2027. Conversely, Daewoong Pharmaceutical has captured a 14% share of the US aesthetic toxin market with "Nabota," while competitor Medytox remains stuck in FDA approval delays due to data insufficiency issues from a rejected 2024 application.
K-Beauty Brands Pivot to Energy-Based Devices
According to a Korea Times report published on October 6, Korean beauty companies are increasingly diversifying their portfolios by entering the market for beauty devices and energy-based devices (EBDs). This trend reflects a broader industry move to offer holistic aesthetic solutions, combining topical skincare with medical-grade laser and radiofrequency technologies to cater to the growing demand for non-invasive treatments among international visitors.
Local view
Local financial media is closely monitoring the strategic shifts of major aesthetic companies. Seoul Economic Daily reported on Hugel's CEO strategy to transition from a toxin-centric model to a global aesthetic medical company, emphasizing direct sales in key markets like the US to mitigate regulatory risks and capture higher margins. Chosun Biz highlighted the diverging fortunes of the "Big Three" toxin makers, noting that while Daewoong and Hugel are scaling up, Medytox faces significant hurdles in the US due to prolonged FDA reviews and litigation, which could impact the supply chain of popular Korean injectables globally.
Context & numbers
The latest government data confirms Korea's status as Asia's medical tourism hub, with over 2 million foreign patients in 2025. Dermatology specifically accounts for approximately 62.9% of all foreign patient treatments, driven by the popularity of injectables and lasers. The VAT refund system for cosmetic procedures remains a critical incentive, with nearly 200 billion won refunded to tourists last year alone.
On the radar
- US Market Share Battle: Watch for further quarterly updates from Daewoong and Hugel regarding their direct sales strategies in the US, as they compete against Allergan and other established players.
- Medytox FDA Resolution: Any news regarding Medytox's ability to resubmit its FDA application could significantly alter the landscape of available Korean toxins in Western markets.
- Skin Booster Trends: As Hugel and other firms push skin boosters (like Rejuran and Juvelook) as primary treatments, expect increased marketing targeting Japanese and Southeast Asian tourists seeking "glass skin" results.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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