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Korean Beauty Trends & Industry News: 24-11-05


K-Beauty Shines at Dubai Beauty Expo, Proving Its Competitive Edge in the Middle East

    Gyeonggi-do Business and Science Accelerator (GBSA), in collaboration with the Korea Federation of SMEs and Namyangju City, showcased 24 Korean beauty companies at the “2024 Dubai Beautyworld Middle East” expo, held from October 28 to 30. At the largest beauty expo in the Middle East, the Korean Pavilion generated $44.04 million in consultations, demonstrating K-Beauty’s increasing competitive appeal in the region.

With products tailored to the local market—including skincare, hair products, and smart beauty devices—the 24 participating companies attracted significant interest from Middle Eastern buyers. The Korean Pavilion facilitated 779 consultations and 263 contracts, underscoring K-Beauty's strong presence in the region. GBSA provided comprehensive support, including interpreting and logistics services, to help these companies secure meaningful outcomes. GBSA Director Kang Seong-cheon highlighted that Dubai serves as a vital entry point for further K-Beauty expansion in the Middle East, emphasizing continued support for Korean beauty brands in the region.


Italy Highlights K-Beauty’s Global Influence in Beauty Market

    As global enthusiasm for K-Beauty grows, Italian newspaper La Repubblica spotlighted Korea’s thriving beauty industry, dubbing it a “New Era for Korean Cosmetics.” Citing data from global research firm Statista, the article reported Korea’s beauty market revenues reached $5 billion in 2022, with projections set to more than double to $12.6 billion by 2032. This rapid growth places Korea as the second-largest beauty exporter globally.

An example of this influence is the Germany-based K-Beauty-inspired brand Yepoda, created by half-Korean founder Sander Joon-yeong, who was inspired by the high demand for Korean beauty products in Europe. Co-founder Nika emphasized K-Beauty’s reputation for innovation and sustainability, describing Korean beauty products as representing the excellence seen in Swiss watches or German cars. This widespread appeal has boosted small business exports as well. According to Korea’s Small and Medium Business Administration, K-Beauty exports increased 30.1% in the first quarter of 2024, reaching a record high.


Korea's Ministry of Food and Drug Safety Hosts Seminar on Cosmetic Clinical Trials

    To support the growing Korean beauty market, the Ministry of Food and Drug Safety (MFDS) plans to host a seminar for cosmetic clinical trial institutions on November 20 in Seoul. With rising use of clinical trial-based advertising, this policy seminar aims to clarify standards and regulations around product safety and advertising claims.

The agenda includes guidance on labeling and advertising requirements, managing trial institutions, ensuring reliability in clinical trial data, and an overview of pre-advertising consultations. The seminar will also introduce resources from the Korea Clinical Trial Association to support institutions in navigating these standards. The MFDS hopes this seminar will foster understanding of proper labeling practices to improve consumer trust and transparency in the cosmetics market.


K-Beauty Takes New York by Storm with 'K-Beauty Boost in NYC' Event

    The beauty platform Hwahae, in collaboration with Nuri House and the Seoul Business Agency (SBA), successfully held the "K-Beauty Boost in NYC" event in Manhattan on November 1. The event, hosted at the Korean Cultural Center, included private networking sessions with 200 influencers and industry insiders, followed by a public session featuring over 300 beauty creators.

Hwahae used the event to debut its global web platform, which includes English-language K-Beauty product rankings, ingredient information, and consumer reviews. American creators showed strong interest in top K-Beauty products and the popularity of these products among Korean consumers. The event also featured talks on past and current K-Beauty trends, and a panel discussion with prominent NYC influencers, who shared insights on skincare perceptions between American and Korean audiences.

Participating Korean brands, including Wellage, Dr. G, and Mediheal, demonstrated the global appeal of Korean beauty standards and products. Hwahae’s CEO Kim Kyung-il emphasized the significance of this milestone, expressing plans to host similar events in Seoul to further grow K-Beauty’s global reach.
Location: 한국

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