Skip to main content

Korean Beauty Trends & Industry News: 24-01-22


Online Seminar on Modernization of Cosmetic Regulation Act (MoCRA) in the U.S., Hosted by MFDS on 31st

The Ministry of Food and Drug Safety (MFDS) of South Korea is hosting an online seminar on January 31st, focusing on the United States' recently strengthened Modernization of Cosmetic Regulation Act (MoCRA). An official from the U.S. Food and Drug Administration (FDA) will provide detailed guidance on the updated cosmetic licensing and regulatory requirements.

Under MoCRA, companies intending to distribute and sell cosmetics in the U.S. must adhere to various stipulations, including manufacturing and quality control standards, proof of safety, reporting serious adverse events, facility registration, product listing submission, and labeling requirements. This seminar aims to enhance the regulatory response capabilities of Korean cosmetic companies in light of the increasing significance of the U.S. market, especially as the Chinese market shows signs of slowing growth. The event, crucial for K-Beauty companies looking to enter the U.S. market, will feature Linda Katz, Director of the Office of Cosmetics and Colors at the FDA, as a speaker. Korean simultaneous interpretation will be provided, and the seminar is free to attend upon pre-registration at the 'Global Regulatory Harmonization Support Center' website.


GS Shop Experiences Increase in Beauty and Travel Product Sales for Lunar New Year

GS Shop, in anticipation of the Lunar New Year, has launched a special event titled 'The Great Lunar New Year'. This event focuses on beauty and travel products, aligning with the post-COVID-19 shift in consumer spending patterns, and moving away from traditional holiday items like cookware. Compared to pre-pandemic levels in 2019, GS Shop's TV home shopping and mobile platforms reported a 14% and 23% increase in beauty product sales, respectively. Notably, sales of brands like Hera, Clio cushions, and Eloel sun cushions surged by 448%, reflecting the demand of consumers preparing for travel and outings. Consequently, GS Shop is ramping up sales of overseas travel packages and beauty products, including 'Easyclear', 'Medicube', and 'Age20's' cosmetics.

The Lunar New Year period, traditionally a time for family gatherings, has seen a shift towards more rest-focused consumption, resulting in a decrease in sales of conventional holiday products like general cookware sets. However, premium brand products have seen an increase in sales. Reflecting these trends, GS Shop is featuring premium kitchen items like French brand 'Staub' cast iron pots and 'Tupperware' airtight containers, along with discount promotions. GS Shop is also planning to focus on gift demands from January 29th to February 4th, offering a range of products from immune boosters to premium gifts. Choi Jang-hoon, head of GS Shop's product strategy team, emphasizes efforts to meet diverse consumer needs following the pandemic-induced changes in holiday customs.


Need for Response to Changes in China's Consumer Market Amid Decline in Cosmetic Exports

According to a recent report by the Korea Trade-Investment Promotion Agency (KOTRA), titled 'Changes in China's Consumer Market and Online Distribution Network,' Korean companies need to pay attention to changes in the Chinese consumer market as exports of Korean cosmetics to China show signs of slowing down. Despite an overall 7.2% increase in China's consumer market size last year, reaching 47 trillion 1495 billion yuan (about 8700 trillion won), the cosmetics sector only grew by 5.1%, not meeting the average level.

The report highlights the necessity for marketing strategies targeting new consumer groups in China, such as the elderly (silver generation), single households, and the Z generation (born between 1997 and 2006). These groups are familiar with online consumption and pursue practicality and personal fulfillment in their spending habits. Notably, the silver generation is actively engaged in online shopping, the Z generation values practical and self-rewarding consumption, single households show growing demand for pet products, and the new middle class seeks emotional value rather than just high-priced items. KOTRA identifies promising consumer markets in China, including designer fashion, innovative household goods, outdoor sports equipment, and pet products. Hong Chang-pyo, head of KOTRA's China region, emphasizes that Korean companies need to prepare and strategize meticulously in response to these emerging promising areas in China's changing consumer market.


Marine Biological Extracts Registered in the International Cosmetic Ingredient Dictionary (ICID)

The National Marine Biodiversity Institute of Korea has successfully registered extracts from marine plants Rosa rugosa (beach rose), Calystegia soldanella (sea bindweed), and the brown algae Sargassum thunbergii in the International Cosmetic Ingredient Dictionary (ICID). This achievement follows the previous year's registration of extracts from the red algae Gloiopeltis furcata.

Rosa rugosa and Calystegia soldanella, which thrive along Korea's coasts and in sandy dunes in the southern regions, and Sargassum thunbergii, growing along the entire Korean coastline and in various countries in East Asia, have been found to possess significant cosmetic benefits. Research by the institute's material development laboratory revealed that Rosa rugosa extract inhibits collagenase and elastase activity, aiding in wrinkle improvement; Calystegia soldanella offers anti-inflammatory properties; and Sargassum thunbergii has skin whitening effects.

Choi Wan-hyun, the director of the National Marine Biodiversity Institute, emphasized the continuous effort to explore and research marine life-derived materials for their use in the cosmetics industry and broader marine bio-industry. This registration is expected to showcase the diverse applications of marine biological resources and provide new ingredients for the domestic cosmetics industry.
Location: 한국

Comments

Post a Comment

Popular posts from this blog

Misleading Claims in Microneedle Skincare Products: 82 Cases Identified

     Recently, microneedle skincare products have gained significant popularity, but Korea’s Ministry of Food and Drug Safety (MFDS) has uncovered that over 80% of these products being sold online are making false or exaggerated claims. After reviewing 100 online posts, the MFDS found that 82 of them violated Korea’s cosmetics regulations, leading to requests for the posts to be blocked by the Korea Communications Standards Commission. The misleading advertisements primarily claimed that microneedles could penetrate deep into the skin layers or promised immediate pore reduction, both of which are not scientifically validated for general cosmetic products. Microneedles are a medical technology designed to deliver substances into the deeper layers of the skin, typically used in drugs and medical devices. However, in the cosmetics industry, these products generally do not have the same capabilities. Some companies falsely advertised their products as having effects similar t...
Post a Comment
Read more

Which sunscreen should I use, Inorganic or Organic?

Overview There are mainly two types of sunscreen: Physical and Chemical.  Inorganic sunscreens are also called Physical Sunscreen or Mineral Sunscreen. Organic sunscreens are also called Chemical Sunscreens. A term Inorganic and organic are derived from chemistry. * Organic Chemistry: The Study of Molecules Based on Carbon, Hydrogen, and Nitrogen * Inorganic Chemistry: The study of compounds other than organic chemicals A sunscreen can, of course, have both of these functions. It is called a Mixed sunscreen or a Combined sunscreen, and these days, many brands are developing products like this. Through this post, let's find out what inorganic and organic sunscreens are, and what sunscreens are most suitable for one to use. The difference between inorganic and organic sunscreen. Inorganic sunscreen is a sunscreen that forms a protective layer on the surface of the skin to block ultraviolet rays before they penetrate into the skin. Most product contains titanium dioxide and zinc oxid...
Post a Comment
Read more

Convenience Stores Redefine the Beauty Industry in Korea

     The landscape of Korea’s beauty industry is shifting, with convenience stores emerging as unexpected players in the cosmetics market. No longer confined to high-end department stores or specialty shops, beauty products have found a new home on the shelves of GS25, CU, and 7-Eleven. By embracing affordability and accessibility, these convenience store chains are disrupting traditional distribution channels, signaling profound implications for Korea's beauty sector. Affordable Beauty for the Value-Conscious Consumer      In an era of high inflation, consumers are prioritizing practicality and value. Convenience stores have stepped in to meet these demands, offering essential skincare products like sheet masks, sunscreens, and serums at prices ranging from $0.50 to $3. These items, often packaged in single-use portions, have gained immense popularity, particularly among Gen Z and Millennials. This strategic focus on affordability is not only a nod to you...
Post a Comment
Read more