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KOTRA to Promote K-Beauty Online and Offline in Six Southeast Asian Countries

According to Yonhap News,

(SEOUL=Yonhap News) The Ministry of Trade, Industry and Energy and KOTRA (Korea Trade-Investment Promotion Agency) announced July 16 that they will be holding the 'K-Beauty Showcase 2017' promotion event in six Southeast Asian countries, including Singapore, from July 17 to August 8 to expand in the region's consumer goods market.

Organized with Lazada Group, Southeast Asia's no. 1 e-commerce company, the event will comprise of online promotions as well as O2O (online to offline) experience opportunities.

Starting with Malaysia on July 18, the event will move on to Singapore, Indonesia, Thailand, the Philippines, and Vietnam, in that order.

Depending on the circumstances of each country, the event can take place in connection with other large-scale events, such as exhibitions on Korean cosmetics or cultural content.

Some 70 Korean companies involved in cosmetics, fashion, and other K-Beauty sectors that are selling (or are scheduled to sell) through Lazada's online platform will participate in he event.

According to global market research company Euromonitor, the scale of Southeast Asia's online retail market last year was USD 7.4 billion, and is expected to undergo rapid growth by an annual 32 percent until 2025.

Lazada's Senior Vice President and Regional Head of Health & Beauty Moony Li Yue noted, "as Korean beauty products become increasingly popular with Southeast Asian consumers, K-Beauty has become essential to Lazada's online platform," adding, "the coming opportunity will help Lazada connect with an even greater number of outstanding Korean firms."

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Source Text

Source: Yonhap News (Jul. 16, 2017)

** This article was translated from the Korean.
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