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The ASEAN-Korea Center organized a workshop last week to help enhance the presence of Korean cosmetics firms in Southeast Asia and share knowledge and experience with regional companies.
The event -- “ASEAN-Korea technology cooperation seminar” – was attended by 18 representatives from both the private and public sectors of nine countries. During the five-day event, which was jointly organized by the Korea Cosmetics Association, participants shared knowledge and experience of Korean firms, particularly on branding and packaging.
They visited the AmorePacific Story Garden in Osan, Gyeonggi Province, the LG Household and Health Care center and the Coreana Cosmetics Museum in Seoul.
“Korea’s beauty and cosmetics industries are gaining prominence around the world due to the rising popularity of Korean dramas and pop-music,” ASEAN-Korea Center Secretary-General Kim Young-sun said in a speech. “ASEAN is the region where Korean cultural boom hallyu has blossomed and people express high interest in our beauty products and styles.”
The Korean cosmetics industry is an $8 billion market that has shown an annual average of 13 percent growth in recent years.
According to the Korea Customs Service, cosmetics exports reached $2.4 billion last year, a 53 percent year-on-year increase. Exports to Thailand, Singapore and Vietnam -- the three largest markets in ASEAN -- recorded $88 million, $63 million and $57 million respective.
The global success of Korean products is due to their innovation, trendsetting and affordability, Kim added.
“While the 20th century’s beauty standard was set by the West, that of the 21st century is shifting to Asia that values inner and outer balance and harmony between mankind and nature,” AmorePacific Group executive Sean Kim said.
“Our vision is to create a more beautiful world through an understanding of Asian wisdom. Southeast Asian beauty industries will continue to grow as the region’s income increases and (the) middle class rises.”
AmorePacific, which started producing camellia hair oil from a “small kitchen” 70 years ago, has grown to serve over 15 million people in 14 countries with its 30 unique brands, the executive noted.
The cushion foundation, first created by the company, is now the most popular makeup category among companies around the world, he added.
By Joel Lee (joel@heraldcorp.com)
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Articles by Korea Herald
