Korean Beauty Trends & Industry News: 23-09-18

Global Outlook on Reducing Animal Testing and Cosmetic Regulations

In a significant move, both the U.S. Food and Drug Administration (FDA) and the European Union's Executive Commission have announced their intentions to reduce or eliminate animal testing. This has shifted attention to China's cosmetic regulations and their animal testing requirements, too. Both issues are closely connected to the global cosmetics industry, and alternative research methods and technological advancements are emerging as key factors to watch.

Experts in the field of animal testing, both domestically and internationally, are sharing various methods to replace animal trials. Concepts like the '3R Principle,' computer simulations, and alternatives like 'spheroids' and 'organoids' are being discussed. Pharmaceutical industries in South Korea and the EU have already started to reduce the number of animals used in their experiments.

Meanwhile, China's cosmetic regulations have become a burden for international cosmetic companies, leading to a decrease in market share. South Korean cosmetics saw a decline of 22.2%, American cosmetics 19.8%, and French cosmetics 6.2%. Cosmetic Europe, a European cosmetics company association, pointed out that the time allotted to meet China's regulatory requirements is insufficient, causing smaller companies to temporarily halt their operations in China.

As an alternative, AI, 'organoids,' and 'spheroids' technologies are drawing attention. Continued efforts in these areas may potentially solve both China's stringent regulations and issues with animal testing. Multiple sectors are cooperating, investing in research, and presenting various technological alternatives, giving a positive outlook on these issues.

Seoul Beauty Week, A Four-Day Festival Encompassing Lifestyle

From the 21st to the 24th of 2023, the Dongdaemun Design Plaza (DDP) will host 'Seoul Beauty Week - The Lifestyle Seoul.' This event aims to go beyond K-beauty by incorporating diverse lifestyle sectors such as fashion, living, and food. Over 100 companies ranging from large corporations to small and medium-sized enterprises will participate. The event is organized into four different thematic areas: Advanced Companies Zone, Small and Medium Enterprises Zone, Lifestyle Seoul Special Zone, and a Citizen Participation Space.

Brands like AmorePacific, L’Oréal Korea, and Korea Kolmar will showcase the latest beauty tech and trends in the Advanced Companies Zone. Meanwhile, the Small and Medium Enterprises Zone will feature a broad range of beauty products including vegan and organic items, with 56 companies participating.

The Lifestyle Seoul Special Zone will introduce cutting-edge lifestyle products and platforms. In the Citizen Participation Space, attendees can experience robotic coffee machines named 'Doctor Preso' and 'alternative diet' food options provided by Shinsegae Food.

Moreover, the event will offer a variety of supplementary programs. Fashion shows, expert lectures, and the 'North Asia Beauty Triangle Summit' will be held in Korea for the first time. The prize money for the 'Business Meetup Pitching Contest' has also been doubled. Attendees can register in advance or on the day of the event, and entry is free of charge.

Officials from the Seoul City Government and various collaborative corporations hope that this event will enhance the growth of the industry and improve the competitiveness of small and medium-sized brands. They also aspire to establish DDP as a global hub for the beauty industry.