Skip to main content

Korean Beauty Trends & Industry News: 24-05-17


Strengthening Korea-China Cosmetics Export Regulation Cooperation

    The Ministry of Food and Drug Safety (MFDS) of Korea has strengthened its cooperation with China's National Medical Products Administration (NMPA) by signing a memorandum of understanding (MOU). This agreement, established during a high-level meeting in Osong, Korea on May 16, aims to support the export of Korean cosmetics. China is the largest market for Korean cosmetics, accounting for 32.8% of total exports. However, recent figures show a decline in export value from $3.8 billion in 2020 to $2.78 billion in 2023, highlighting the need for regulatory cooperation.

The high-level meeting, proposed by the MFDS during their visit to China last year, focused on simplifying the approval process for functional cosmetics and sharing safety assessment trends. The newly signed MOU, which will last for five years, ensures ongoing exchange of legislative, safety, and approval information between the two countries.

On May 17, the MFDS will host a seminar and business meeting to explain recent Chinese cosmetic safety guidelines and address industry queries. Kim Yoo-mi, Deputy Director of the MFDS, stated that this cooperation will help reduce non-tariff trade barriers and solve industry challenges, aiding the recovery of the Chinese export market. The collaboration will institutionalize high-level meetings and enhance practical exchanges, playing a crucial role in alleviating difficulties for the Korean cosmetics export industry and promoting global market expansion.


AI-Powered Customized Skincare Product Recommendation System

    The Korea Electronics and Telecommunications Research Institute (ETRI) has developed an AI-based technology to recommend skincare products tailored to individual skin conditions. This innovative system, announced on May 16, analyzes the application properties of cosmetics to provide personalized recommendations.

The research team collected data mimicking the action of applying cosmetics to the skin, converting the frictional forces into frequencies, and analyzing the changing frequency signals over time. This technique detects differences in absorption rates, helping to gauge the effectiveness of the products.

Testing 17 AmorePacific products, the system measured moisture levels on a scale of 1 to 15, achieving a 99% accuracy rate in blind tests. This AI system replaces traditional expert evaluations, reducing time and costs while providing consistent and objective assessments.

Developed in collaboration with Terra Leader and AmorePacific, the system utilizes 5,000 datasets for AI deep learning. Yang Yong-seok, head of ETRI's Intelligent Component Sensor Research Division, emphasized the potential for further research into residual feel, thermal sensations, fragrance, and color analysis. This technology promises significant contributions to the K-beauty industry and has potential applications in various fields, including fabric touch evaluation, paint properties, and tire friction characteristics.


Daegu International Beauty Expo to Open on May 17

Daegu City will host the 11th Daegu International Beauty Expo from May 17 to 19 at EXCO’s west wing. This expo, celebrating the synergy between local beauty services and K-beauty, will feature 120 beauty-related companies with over 200 booths showcasing various products and the latest trends.

The event will include export and purchase consultation sessions, inviting 34 international buyers from countries such as China, Vietnam, Australia, France, and Canada. Domestic distribution buyers from 22 companies, including Alibaba Tmall Global, CJ ENM, Lotte, and Hyundai Home Shopping, will also participate.

Highlighting industry trends, the expo will showcase beauty tech, customized cosmetics, vegan beauty, and clean beauty products. The Daegu Beauty Export Association and regional beauty industries will be represented through joint booths.

The expo will feature a makeover show on May 17, with participation from makeup artist Kwon Jun-woo, YouTuber Kim Miso, and TikToker Yuna K-Review. Other events include the opening hair show, Daegu Mayor’s Cup Beauty Contest, K-Nail Competition, and the International Skin Beauty Contest, attracting over 1,100 participants from the beauty industry.

Beauty colleges will offer makeup, nail art, and other beauty experiences to visitors. The Beauty College Pavilion, which had three universities last year, will see eight universities participating this year, providing diverse beauty experiences and promoting related academic programs.

Kim Sun-jo, Deputy Mayor of Daegu, expressed hope that the event would be a platform for new market opportunities and the acquisition of the latest beauty trends, contributing to the innovation and growth of the beauty industry.
Location: 한국

Comments

Post a Comment

Popular posts from this blog

Korean Beauty Trends & Industry News: 24-12-20

Korean Convenience Stores Enter the Affordable Beauty Market      Korean convenience stores are now competing aggressively in the affordable beauty market, targeting younger consumers in their teens and twenties with skincare products priced around 3,000 KRW (about $2.50). These products emphasize small, travel-friendly sizes, practical use, and budget-friendly pricing, making them particularly appealing to younger shoppers. GS25 recently launched six affordable beauty products, including the "Scinic Moist Tone-Up Sun Cream," priced at 3,000 KRW for six individually packaged 2mL units. Earlier this year, GS25 introduced 700 KRW sheet masks and 1,000 KRW moisture pads, doubling its skincare offerings from 10 products last year to 20 in 2024. Similarly, CU launched three affordable skincare products in September, selling 30,000 units in just three months. CU's lineup has expanded to include skin-repairing ampoules and hand creams. Even Seven-Eleven has joined the trend with...
Post a Comment
Read more

Korean Beauty Trends & Industry News: 23-12-18

Intensifying Competition in Cosmetics Delivery: CJ Olive Young, Coupang, Daiso in the Fray In the dynamic world of Korean beauty, CJ Olive Young, Coupang, and Daiso have plunged into a competitive race for cosmetics delivery.  CJ Olive Young's same-day service, "Delivers Today," has seen a 70% increase in usage this year compared to the last. In Seoul, over half of the online orders are delivered through this rapid service.  This company was the first in the cosmetics industry to introduce instant delivery, ensuring swift dispatch directly from stores near the delivery address through their mobile app and online mall. With over 1,300 CJ Olive Young stores nationwide, 80% of which stock indie cosmetics brands, orders made before 8 PM are delivered within 3 hours, averaging around 45 minutes. The company is also expanding its urban logistics centers (MFC) to metropolitan areas next year. Meanwhile, Coupang is focusing on delivering premium authentic cosmetics. In July, they...
Post a Comment
Read more

Helena Rubinstein: Unveiling the Life and Legacy of a Cosmetics Pioneer

Helena Rubinstein (1872-1965) was more than just a name in the world of beauty; she was a trailblazer who revolutionized the cosmetics industry.  From her modest beginnings in Poland to her reign as a global beauty titan, Rubinstein's journey remains an inspiration. Through her brand, Rubinstein pushed boundaries, championing the idea that beauty could be a powerful tool for women's empowerment. From Humble Beginnings to the Cosmetics Throne Helena Rubinstein was born in 1872 in Krakow, Poland. Leaving her homeland at a young age, she initially moved to Australia, where her career in the cosmetics industry began. Rubinstein noticed the harsh effects of the Australian sun on the skin and developed a cream to protect and moisturize it. This innovation led to the launch of Helena Rubinstein's first product, Valaze, a face cream formulated with herbs from the Carpathian Mountains. The success of Valaze was pivotal in Rubinstein's career, propelling her into the global cosme...
Post a Comment
Read more