Hoengseong-gun in Gangwon Province has secured 15 billion won ($10.2 million) in investment from a medical-sector company.
According to Gangwon Province and Hoengseong-gun, Genetox Co. plans to invest 3 billion won in an initial phase to build a 1,831-square-meter factory extension on its existing site and hire 20 new employees. The company also plans to expand exports once the construction is complete.
Genetox's flagship product is Botaone, a botulinum toxin injectable. Hoengseong-gun said the product can be used not only for cosmetic purposes but also across a range of therapeutic applications, including hyperhidrosis, muscle spasticity and blepharospasm, and that its high purity minimizes resistance while enhancing treatment efficacy.
In March 2025, Genetox received approval for an investigational new drug application for a domestic Phase 3 trial of its therapeutic product and is currently conducting the clinical trial.
If the company obtains domestic product approval in the second half of this year, sales growth from global market entry and increased production demand are expected to follow. The factory expansion is intended to proactively build out the production base ahead of that.
The signing ceremony, held Tuesday, was attended by Lee Young-jun, chief executive of Genetox; Jang Sin-sang, Hoengseong-gun county chief; and Han Young-seon, director of the industry bureau at the Gangwon Special Self-Governing Province.
"Genetox has demonstrated its potential to grow into a global company — relocating its headquarters to Hoengseong in 2021 and winning an excellence award at the 2024 Gangwon Export Awards," Han said. "The continued reinvestment by companies that have relocated to the province is an important signal that the regional industrial ecosystem is functioning well. The province and Hoengseong-gun will actively support the company to ensure that investment and hiring proceed as planned."
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