SEOUL, 27 September 2023 – REACH24H Korea is pleased to announce its selection as the research partner for the highly anticipated 2023 Cosmetic Industry Status Analysis and Support Policy Research project. This project is organized by the Korean Health Industry Development Institute (KHIDI), an authority body under the Ministry of Health and Welfare (MOHW) in South Korea. The research project is set to run through the end of 2023.

In light of the rapidly changing global landscape in recent years, characterized by strengthened cosmetic export regulations in key markets like China and the United States, the South Korean cosmetic industry aims to enhance its global competitiveness. This research project aims to address this imperative by conducting industry assessments and examining key issues within the cosmetic ecosystem.

2023 Cosmetic Industry Status Analysis and Support Policy Research Project

The primary objective of this research is to transcend the limitations of the cosmetic industry in South Korea and propose a medium to long-term industry nurturing strategy. The research will entail analyzing the current status and characteristics of the Korean and international cosmetic industries, identifying structural issues within the Korean cosmetic industry, promoting a healthy industry ecosystem through issue resolution, and enhancing global competitiveness to increase exports and future growth potential.

Additionally, the research will provide foundational information to support the development of legislation and regulations that form the institutional framework for nurturing the cosmetic industry.

How REACH24H Will Empower the Industry Development

With their expertise and influence, REACH24H Korea can make an impact by identifying and addressing industry challenges, providing valuable insights and strategies, and contributing to policy formulation related to market access, regulatory frameworks, and standards. Through close collaboration, REACH24H Korea brings expertise, insights, and strategies to empower the project and contribute to the growth, competitiveness, and regulatory compliance of cosmetics industry.

REACH24H Korea is honoured to be chosen as the research executor for this significant project. Our team is committed to conducting thorough research and providing valuable insights to contribute to the growth and competitiveness of South Korea\’s cosmetic industry.

About KHIDI

The Korean Health Industry Development Institute (KHIDI) is a South Korean government-affiliated institute under the Ministry of Health and Welfare (MOHW). KHIDI is dedicated to promoting public health and fostering the growth of the health and medical industry in South Korea. For more information, please visit [www.khidi.or.kr].