According to Yonhap News,

On June 23, the Ministry of SMEs and Startups (MSS) announced that export consultations worth USD 110 million were conducted during the '2025 Cosmo Beauty Seoul x K-Beauty Festa', held at COEX in Seoul from May 28 to 30.

At the event, 17 export contracts worth USD 660,000 were signed, and an additional USD 2.46 million in contracts will be finalized by the end of this year.

This year, 439 K-beauty companies participated in the exhibition, attracting 53,000 visitors.

A total of 161 companies from 51 countries participated, including 27 major global buyers such as Sephora and Unilever. The exhibition also saw a record-breaking number of B2B consultations, with 1,903 meetings held.

Among the exhibitors, Pams B&B sold out four basic and functional skincare products on-site, while Sindo P&J successfully exported a new cosmetics brand using the distribution infrastructure of Vietnamese buyers.

Hana-moa is in follow-up negotiations with Japanese retailer Don Quijote and is expected to secure an export contract worth up to USD 1 million if the partnership materializes.

Lee Soon-bae, Director General for Global Growth Policy, stated, "Despite the rapid changes in the external environment, such as the rise of global protectionism, we will enhance tailored support, including technology development support and ESG (environmental, social, and governance) management support, to ensure the expansion of the K-beauty ecosystem."


aeran@yna.co.kr

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Source: Yonhap News (June 23, 2024)

** This article was translated from Korean.