Day: September 16, 2021

SEOUL, South Korea, Sept. 16, 2021 (GLOBE NEWSWIRE) — At the ‘City Seoul, Branding K-beauty’ conference of ‘2021 NEWSIS K-Expo’, which was broadcast on YouTube from 5 pm KST on 16^th of September, overseas panels who participated online and domestic panels who participated offline came up with plans for K-Beauty to grow along with the Korean Wave after the Covid-19 pandemic.

James Chang, CEO of Lazada Singapore, emphasized, “We would like to meet more Southeast Asian customers and introduce a variety of products by introducing K-beauty.”

It is all because he is focusing on the Korean Wave. Looking at the market share of beauty products in Southeast Asia, South Korea surged from 8.9% in 2016 to 11% last year. Lazada introduced ‘Laz Korea’, a Korean product specialty store, and introduced Hallyu star ‘Hyun Bin’ as a publicity ambassador.

Jan Geweise, a senior researcher at the Consumer Business Insights team at Statista, a German market research institute, said, “The potential of the Korean beauty industry is very large after the pandemic; K-beauty exports will continue to grow.”

Domestic beauty experts ordered industry innovation measures to prepare for the post-pandemic. They also poured out policy suggestions for the Seoul Metropolitan Government and the government.

Jinpyo Lee, Head of Strategic Division in Amorepacific Group said, “Just as we created a new category called ‘cushion’ and spread a new makeup method and culture that is different from the existing ones, we planted an image of leading K-beauty innovation to consumers around the world through innovative products.”

“From now on, the Seoul Metropolitan Government should organize and share information on areas of common interest, such as eco-friendliness, and gather wisdom to create a place where Beauty Seoul can succeed and provide continuous support.”

Creator Risabae, who has 2.24 million YouTube subscribers, said, “In the past, overseas viewers mainly responded to cover makeup videos of domestic and foreign celebrities, but now they are showing a lot of interest in everyday makeup styles. I feel a growing interest in K-beauty styles that bring out their natural beauty.”

Kyung-ah Han, secretary general of the Visit Korea Committee, said, “If you pick 10 brands that first come to mind when you think of ‘South Korea’, Samsung is the first, but 6 cosmetic brands are included in the top 10. Products, exports, and sales are important, but if we provide tourists with opportunities to experience K-beauty, we will be able to secure loyal customers.”

Jae-ran Lee, president of the Foundation of Korea Cosmetic Industry Institute, also said, “The Korean cosmetic industry is developing innovative products in a short time and leading the global trend as the Korean Wave. I hope that it will develop in a way that meets the needs of overseas customers by continuing to produce innovative products that combine eco-friendliness and hyper-personalization.”

Dae-woo Park, head of the Seoul Economic and Job Planning Office, said, “Seoul is the largest place in the country with the largest share of sales in the Hair&Skin beauty industries in the country. The city of Seoul plans to foster and support the beauty industry and create a city full of beautiful charm by converging excellent infrastructure.”

Newsis K-Expo started in 2019 and this is the 3rd time. It is an event to explore the sustainability of the Korean Wave, encompassing not only culture such as music, TV dramas, and movies, but also industries such as beauty, F&B, and tourism.

K-pop group ‘Seventeen’ won the Korean Wave Culture Awards. Hugel, Lotte World Tower, Amorepacific, OB Beer won the Korean Wave Corporate Awards. K-pop group ‘Loona’ and ‘Kingdom’ held a celebratory performance.

Contact : Kim, Jeong-Hwan, ace@newsis.com +82-2-721-7436

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a661dd3a-91c2-40d6-bc0e-79f0fd3901a3

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

SEOUL, South Korea, Sept. 16, 2021 (GLOBE NEWSWIRE) — Seoul Mayor Oh Se-hoon said, “We will make the beauty industry a strong growth engine for Seoul. We are establishing specific action plans for nurturing related infrastructures.”

Mayor Oh delivered a keynote speech at ‘The NEWSIS K-Expo 2021: Seoul Beauty Industry Branding Conference’, which was broadcast on the NEWSIS YouTube Channel (https://www.youtube.com/c/NewsisTV) from 5pm KST on 16^th of September. He announced “the number one task given to Seoul is to raise the competitiveness of the city that has fallen and take another leap forward to become one of the top five global cities.

He also emphasized that he has established a future roadmap ‘Seoul Vision 2030’ in order to implement this task. One of the key points of the vision is ‘Seoul, the future emotional city.’

“The domestic beauty industry that has become a new Korean cultural content is something Seoul is paying attention. It is all about making Seoul a global emotional city that everyone wants to visit, live, and invest,” he said.

Mayor Oh evaluated the beauty industry as “a future industry that is expected to grow continuously in line with a new consumption trend oriented toward sensibility and well-being, and a high value-added job industry”.

He said, “South Korea’s cosmetics exports amounted to about 8,287.7 billion won as of last year, up 16% from the previous year, and it has emerged as the world’s third-largest cosmetics powerhouse after France and the United States.”

“Seoul has an excellent environment with great potential to grow into a global beauty city, as 45.7% of domestic cosmetics retailers as well as the headquarters of four Korean cosmetics companies ranked in the world’s top 100 cosmetics companies are located in Seoul,” he emphasized.

Mayor Oh also announced plans to promote ‘beauty tourism’ as well.

“If we develop tourism products that add beauty unique to Seoul in addition to the charm of Seoul known to the world through Korean Culture, such as K-pop and K-drama, the demand for domestic and foreign tourists visiting Seoul will steadily increase. We are deriving detailed tasks through consulting with specialized agencies in order to promote systematic beauty tourism.”

As specific measures, Mayor Oh suggested the development of various tourism products and travel courses related to beauty, and collaboration with beauty creators and beauty flagship stores.

“In particular, Dongdaemun Special Fashion Zone, which has earned a reputation as ‘Korea Fashion No.1’, is expected to be reborn as a ‘Dongdaemun Beauty Special Zone’ where various things to see, enjoy, and new vitality arise. If beauty and Hallyu (Korean Culture) momentum are added to the various fashion and design contents of the Dongdaemun area, it can lead domestic and foreign tourists to Dongdaemun again.”

Mayor Oh showed confidence in making Seoul a future world-centered beauty city.

“We will increase the future growth potential of Seoul as a global beauty center and brand Seoul’s sensibility and beauty that encompasses Seoul’s culture, taste, smell, and landscape.

“We will create a new brand in Seoul. ‘If you want to see the latest global beauty trends, go to Seoul.’”

Newsis K-Expo started in 2019 and this is the 3rd time. It is an event to explore the sustainability of the Korean Wave, encompassing not only culture such as music, TV dramas, and movies, but also industries such as beauty, F&B, and tourism.

K-pop group ‘Seventeen’ won the Korean Wave Culture Awards. Hugel, Lotte World Tower, Amorepacific, OB Beer won the Korean Wave Corporate Awards. K-pop group ‘Loona’ and ‘Kingdom’ held a celebratory performance.

Contact: Kim, Jeong-Hwan, ace@newsis.com +82-2-721-7436

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/71e46243-3f36-4452-84de-f5d029beb52b

 

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