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Korean Beauty Trends & Industry News: 24-04-16


Discussing Policies to Diversify Cosmetics Exports - Visit to Cosmax by the Head of the MFDS

    The head of Korea's Ministry of Food and Drug Safety (MFDS), O Yoo-kyung, visited Cosmax in Hwaseong, Gyeonggi Province, on April 15. This visit aimed to promote diversification in the cosmetics export market, including the Halal market, and to hear the industry's challenges in developing products tailored to international standards. Notably, Cosmax had previously won the top award in the cosmetics category at last year’s Indonesia Halal Awards, a first for a Korean company.

Director O reported that cosmetics exports had reached $8.5 billion last year, a 6.4% increase from the previous year, with a significant 27.1% increase to $2.3 billion in just the first quarter of this year. This growth reflects both the industry's efforts and robust government support. The MFDS plans to continue regulatory innovations to align domestic GMP and international ISO standards, supporting high-quality product development that meets diverse international demands, thus further advancing the global leadership of K-Beauty and preemptively responding to stringent cosmetics regulations in major markets like the USA and China.


P&K Leads in Cosmetic Absorption Technology Using Raman Spectroscopy

    P&K Skin Clinical Research Center is pioneering the industry with its use of Raman spectroscopy to analyze the path and distribution of cosmetic ingredients on the skin. This advanced technique surpasses simple wavelength analysis by allowing intuitive visualization through images, recently enhanced by the adoption of new Raman spectroscopy equipment. This technology is also applied to hair products, enabling structural differentiation of hair damage from heat or chemicals and measuring protective effects accurately.

As the first in Korea to utilize Raman spectroscopy in this field, P&K has developed a database of skin and hair absorption test cases for various ingredients and formulations. This capability allows for tailored product design and precise efficacy communication, enhancing consumer trust through scientific validation of product benefits.


Asung Daiso Surpasses $3 Billion in Sales Due to Popularity of Cosmetics and Apparel

    Last year, Asung Daiso's revenues exceeded $3 billion, with operating profits around $200 million, driven by the popularity of its branded cosmetics and practical apparel. This marks a growth of 17.5% in sales and 9.4% in profits compared to the previous year. Daiso sells cosmetics from 26 brands including Nature Republic, Danahan, Clio, and VT 

Cosmetics, which saw an 85% increase in sales last year. The rise in demand for value-for-money products, coupled with a recovery in offline consumer spending and polarization trends, contributed to this success. Furthermore, Daiso enhanced its operational efficiency and strengthened its online presence by integrating Daisomall and Shop Daiso into a new platform, improving customer service with features like next-day delivery.


Gyeongbuk Andong Starts Development of Functional Cosmetics from Unused Hemp Roots and Stems

    In Andong, Gyeongbuk Province, research has commenced to develop functional cosmetics and industrial products using previously discarded hemp roots and stems. The Gyeongbuk Agricultural Technology Institute is collaborating with medical hemp research firms NeoKenBio and Aipack. 

The project will utilize anti-inflammatory, antioxidant, and anti-aging compounds like polyphenols and terpenoids extracted from hemp. Unlike marijuana, which is regulated under narcotics law, these parts of hemp are not classified as narcotics, allowing for unrestricted commercial use. This initiative is expected to enhance the utilization of hemp, contribute to the local economy, and pave new industrial avenues for the hemp sector in the region.

These translations are designed to offer insights into the dynamic nature of South Korea's beauty industry from an American perspective, highlighting innovations, regulatory strategies, and market expansions that resonate with global trends and challenges.
Location: 한국

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