SEOUL, 4 JULY 2023 – On 20 June 2023, the “2nd Gyeonggi Province Beauty Industry Promotion Committee” held its inaugural meeting at the Gyeonggi Provincial Government Office. During the meeting, 12 new committee members were appointed, including Seongmin(Mike) Sohn, general manager of REACH24H Korea. The committee discussed the “5-Year Promotion of the Beauty Industry in Gyeonggi Province” plan for 2023 and beyond.

Why Gyeonggi Province?

According to a survey by the Gyeonggi Research Institute, Gyeonggi Province has the highest share of cosmetic manufacturing companies and factories in the country. The sales revenue of the Gyeonggi Province cosmetic manufacturing industry in 2020 was also the highest in the country, accounting for 35.6% of the nationwide cosmetic manufacturing industry sales revenue.

The final research report indicates that Gyeonggi beauty companies have expressed the greatest demand for Korean and international online and offline marketing support and export-support programs.

As Gyeonggi Province continues to bolster its beauty industry, it aims to solidify its position as a leading force in the sector, leveraging its robust infrastructure, support program, and favorable business environment.

The 2nd Gyeonggi Province Beauty Industry Promotion Committee

The committee, which has 15 members, including the committee chairman, (Yum Tae-young, Deputy Director of the Gyeonggi Provincial Economic Department), a director from the relevant department, and 13 appointed commissioners, is responsible for advising on the establishment and implementation of the Gyeonggi Province Beauty Industry Promotion Plan, as well as institutional improvements.

Yum Tae-young, the Deputy Director of the Gyeonggi Provincial Economic Department, this time on the meeting, expressed confidence in the growth potential of the beauty industry in Gyeonggi Province, South Korea, and announced plans to establish a basic plan for the development of the industry to lead continuous growth.

During the meeting,  Seongmin(Mike) Sohn and Research Fellow Gi-dong Shin of Gyeonggi Research Institute announced the research results on “Changes in Beauty Trends and Gyeonggi Province’s Response Strategies in the Face of COVID-19”.

How Will REACH24H Support?

REACH24H’s involvement in the committee highlights its commitment to supporting the growth and development of the beauty industry in South Korea, and its willingness to collaborate with government agencies to achieve the goal. REACH24H Korea will provide valuable support to enterprises targeting the Korean beauty market with its expertise and experience in the cosmetic industry.

As REACH24H Korea deepens its relationship with the Korean government through its involvement in the committee, it can stay up to date on regulatory developments and market trends. This enables the company to provide more effective support to enterprises targeting the Korean market.

To learn more about our regulatory compliance consultancy services for the cosmetics industry, please visit https://www.reach24h.com/en/cosmetics.