Interest in new hair-loss drugs has also drawn attention to Korean companies such as JW Shinyak, Hyundai Pharm, and Withus. They do not all own novel drug candidates. Korean activity currently includes marketed minoxidil, finasteride, and dutasteride products as well as long-acting formulations intended to make established drugs more convenient.
This article explains treatments using public company information. It is neither medical nor investment advice.
A map of the Korean programs
| Company | Drug or technology | Stage | Meaning |
|---|---|---|---|
| Hyundai Pharm | Minoxyl, Minopecia, and Damodart | Marketed | Topical minoxidil and oral 5-alpha-reductase inhibitors |
| JW Shinyak | Monad, Neodart, and related products | Marketed | Mainly oral finasteride and dutasteride products |
| Withus Pharmaceutical | IVL3001 manufacturing agreement | Clinical/preparation | CMO for monthly finasteride injection |
Hyundai Pharm: topical, not oral, minoxidil is the flagship link
Hyundai Pharm lists topical minoxidil products under the Minoxyl brand as well as prescription Minopecia (finasteride) and Damodart (dutasteride) (OTC portfolio, prescription portfolio).
Minoxyl is topical minoxidil, not an oral minoxidil product. Its route and safety considerations differ from low-dose oral minoxidil. Minopecia and Damodart are oral finasteride and dutasteride products.
JW Shinyak: established oral drugs, not a new mechanism
JW Shinyak markets Monad and other hair and dermatology products. JW Group's annual report identifies Monad and Neodart as key products and discusses growth in its hair-loss franchise (JW annual report). These are established 5-alpha-reductase inhibitor products rather than new mechanisms. The company name JW Shinyak should therefore not be read as evidence that these products are novel drugs.
JW Shinyak should not be confused with JW Pharmaceutical. The experimental JW0061 is a topical small molecule designed to activate GFRA1 and influence a hair-growth pathway. In February 2026, JW Pharmaceutical announced Korean authorization for a Phase 1 study assessing safety, tolerability, and pharmacokinetics in 104 healthy adults (company announcement). JW0061 belongs to JW Pharmaceutical and is distinct from JW Shinyak's marketed products.
Withus and IVL3001: a new delivery method, not a new ingredient
Withus said in 2020 that it signed a domestic and global exclusive CMO agreement with Inventage Lab for long-acting injectable hair-loss treatment (company announcement).
Inventage Lab lists IVL3001, a one-month finasteride injection, as clinical-stage with Daewoong as partner (pipeline). Its innovation is controlled release rather than a new active ingredient.
Monthly dosing may improve adherence, but exposure cannot be stopped promptly after injection. Trials must demonstrate predictable release, acceptable safety, and outcomes that justify switching from tablets. Withus is positioned as a clinical and potential commercial manufacturer rather than owner of the candidate.
What to watch next
- Does IVL3001 match oral finasteride on efficacy and safety?
- Does its approval and commercial manufacturing schedule become concrete?
- What safety, tolerability, and pharmacokinetic findings emerge from the JW0061 Phase 1 trial?
- Does a later patient trial demonstrate actual hair growth with JW0061?
The most concrete Korean innovation is currently a long-acting formulation of finasteride. It does not introduce a new ingredient, but it could reduce the burden of daily dosing. The companion article separately examines Absci's PRLR-targeting ABS-201.
Sudden, patchy, scarring, painful, inflamed, or rapidly worsening hair loss should be evaluated by a dermatologist.