From BigGo Finance · BigGo Finance · · 1m 10s
South Korea's SME Minister Visits K-Beauty Plant
South Korea's SME Minister visits Kolmar Korea's Sejong Plant to boost small beauty brands' global reach.
In brief
South Korea's SME Minister visits Kolmar Korea's Sejong Plant to boost small beauty brands' global reach. South Korea's SME Minister Lee So-young visited Kolmar Korea's Sejong Plant to support small and mid-sized cosmetics brands expanding overseas. Originally reported by BigGo Finance.
First Private-Sector Visit
South Korea's SME Minister Lee So-young chose Kolmar Korea's Sejong Plant as her first private-sector visit since taking office.
K-Beauty Export Growth
Cosmetics ranked as South Korea's No. 1 export item for SMEs, reaching $5.07 billion in first half of this year.
ODM Ecosystem
Small brands and manufacturers collaborate through ODM to boost global competitiveness of k-beauty.
Key Challenges
Imitation products and country-specific regulations hinder small brands' overseas expansion.
“Similar products imitating popular south korean brands overseas and country-specific cosmetics regulations are the main difficulties”
Government Support
Ministry pledges to support intellectual property protection and global expansion of small cosmetics brands.
Sejong Plant Capacity
Sejong Plant produces 890 million skincare and suncare products annually for k-beauty exports.
Next Steps
Kolmar Korea plans to strengthen production capacity to support growing global demand for made in korea products.
What it means
South Korea's SME Minister Lee So-young visited Kolmar Korea's Sejong Plant to support small and mid-sized cosmetics brands expanding overseas.
