BERGEN, Norway—Aqua Bio Technology ASA (ABT) entered into its second commercial distribution agreement for its patented ingredients Aquabeautine XL™ and Smids™ with South Korean company Seil International Ltd.
Fanny Coste, sales & marketing director and head of product development for ABT, said: "This is an important milestone for ABT, as this agreement opens the doors to Asia and confirms the significant commercial potential of our ingredients in that region. We are very pleased to work with such a recognized company in South Korea."
The agreement gives Seil International exclusivity on marketing and distribution of ABT’s products in South Korea. The agreement is part of ABT’s global strategy to partner with leading regional distributors of cosmetic raw materials to increase market impact, yielding greater flexibility and strengthening the commercialization process of ABT’s patented ingredients in major target markets.
“We believe ABT’s products are truly unique and have a tremendous potential in our market. We are delighted to have secured them for our portfolio and are confident that our collaboration will yield significant success", added Hongki Joo, president of the Seil International Ltd.