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Korean Beauty Trends & Industry News: 24-05-08


Cosmax Leads in Cosmetics with New Hair Loss Evaluation Technology

    Cosmax, a South Korean cosmetics company, has announced the development of a novel hair loss evaluation method using "hair and follicle mimicking organoids." This technology was showcased at the 2024 Organoid Developer Conference in Seongnam, Gyeonggi Province last month. 

Organoids, made from stem cells, excellently replicate human cellular structure and function. In collaboration with OrganoidScience, Cosmax has successfully recreated androgenetic hair loss symptoms by introducing growth factors into reprogrammed stem cells to create a scalp mimic. 

Furthermore, their proprietary ingredient "Soyact" has been validated for its effectiveness in suppressing male pattern baldness and received non-prescription functional certification from the Korean Ministry of Food and Drug Safety. Cosmax sees this technology not only advancing hair loss treatment materials but also setting a new standard in cosmetics, moving towards replacing animal testing with organoid use.


Hyundai Card and Olive Young Accelerate Beauty Innovation with PLCC Partnership

Hyundai Card has formed a groundbreaking partnership with Olive Young, setting new benchmarks in South Korea’s beauty platform market through their Private Label Credit Card (PLCC) initiative. 

This collaboration, officially announced at a signing ceremony attended by Hyundai Card Vice Chairman Chung Tae-young and Olive Young CEO Lee Sun-jung, aims to enhance branding, marketing, and data science strategies. Since introducing the world's first data science-based PLCC in 2015, Hyundai Card is now expanding its portfolio with Olive Young, a leader in both domestic and international beauty trends, boasting over 14 million membership subscribers. 

The partnership is expected to offer more benefits to Olive Young members and provide fresh experiences for new customers, significantly enhancing the collaborative efforts in data-driven marketing between the partners.


Sam’s Club Offers Massive Sales Opportunities for Korean SMEs in China

Sam’s Club is actively seeking to import a broad range of products from Korean small and medium enterprises (SMEs) into the Chinese market. According to the Korea Trade-Investment Promotion Agency (KOTRA), Sam's Club is particularly interested in health foods, beverages, eco-friendly cosmetics, and outdoor products in response to the growing health consciousness and demand for sustainable products among Chinese consumers. 

The bulk store chain, boasting over 40 locations and more than 4 million paying members across China, offers significant sales potential for Korean companies. KOTRA has been facilitating "New Vendor Counseling Sessions" with Sam’s Club, which have already attracted applications from about 100 Korean companies this year. Successful entry into Sam’s Club can lead to extensive sales across China, a transformative opportunity for Korean SMEs to scale up their export activities effectively.
Location: 한국

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