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North Chungcheong Province to Invest KRW 121.7 Bn in Cosmetic & Beauty Industries

According to Yonhap News,

(CHEONGJU=Yonhap News) North Chungcheong Province plans to invest around KRW 120 billion in the cosmetic and beauty industries over the next seven years.

The province said on June 12 that it came up with a comprehensive plan for fostering cosmetic and beauty industries by investing huge amount of budget.

The plan includes 13 core tasks including attracting research facilities and companies, opening an inspection center for cosmetics, establishing Good Manufacturing Practices (GMP) and hosting fairs. The Chungcheong Province will invest KRW 121.7 billion for the plan by 2020.

Hosting 2016 Cosmetics & Beauty Expo Osong is also on the agenda and the province carry forward hosting the expo biennially.

North Chungcheong Province also decided to build a Support Center for Cosmetic & Beauty Industries, raising funds from corporations in the industries.

“The province will work hard to make the region a global hub for nurturing anti-aging, bio and functional cosmetics,”said a provincial official said.

North Chungcheong Province will unveil sculptures and memorial poem stones on June 17 to commemorate the latest Osong fair that took place at Mansu Park in May this year.

Copyrights Yonhap News. All Rights Reserved.

Source Text

Source: Yonhap News (June 12, 2014)

** This article was translated from the Korean.