U develops and manufactures a broad range of products including prescription drugs and OTC drugs, and medical devices and supplies. In addition, it is involved in the production, distribution, import and export of agricultural and fishery products, other manufactured goods, and cosmetic products, as well as operating a wholesale and retail business. U is based in Seoul and has factories in Asan and Osong. Guided by its philosophy of “Health in Everyday Life”, U is dedicated to developing the pharmaceutical and healthcare industry with the ultimate goal of promoting people’s health. U has been developing new products in various categories, including the KF 94 mask “Fine Doctor” launched in 2020 and “Dried Bee Venom” in 2022. U exports its products to Vietnam, the Philippines, Cambodia, and India, with some of its products registered in South America and Eastern Europe.

In October 2023, the matching manager received an inquiry from a Mongolian buyer looking for a Korean eye-drop product and started looking for a Korean manufacturer. Finally, he found U, with its extensive lineup of prescription and OTC drugs. With a fairly high share in the Korean eye-drop market, this medium-sized Korean pharmaceutical company is also exporting its products overseas.

The buyer had previously contacted a number of other Korean companies, citing quality as its No. 1 priority. They were satisfied with the quality of U’s eye-drop and its product lineup. Initially, the buyer contacted KITA for an eye-drop product, but it was also trying to source other healthcare products and showed a keen interest in Cerabin C, a drug containing porcine brain extracts that is effective in promoting the brain metabolism and treating nerve dysfunction. In November 2023, U and the Mongolian buyer finally signed a 3-year contract worth USD 288,000. Since Cerabin C was already being sold in multiple overseas markets, a sample test was not necessary, resulting in the early conclusion of the contract.

The buyer thanked the matching manager for the successful matching with U. The manager plans to keep in contact with the buyer, carefully identify its sourcing needs, and to match it with small but strong Korean companies that can meet its needs.