JEJU-DO < invest Korea

According to Newsis,

Cosmetics factories in Jeju will be restructured, while manufacturing, production and test analysis facilities will be expanded, establishing a one-stop service support system from R&D to manufacturing process.

Jeju Special Self-Governing Province said on April 24 that it was selected for 'Clean Bio Materials Cosmetics Base Advancement Project', which it had applied jointly with Jeju Technopark, a 2022 smart specialization base building project hosted by the Ministry of Trade, Industry, and Energy (MOTIE).

The province will carry out various projects to foster the cosmetics industry in Jeju-do and swiftly respond to the rapidly changing cosmetics trends by investing a total project cost of KRW 9.7 billion (national KRW 5.2 billion, provincial KRW 4.5 billion) for 3 years until 2024.

The provincial government plans to build a one-stop service support system from R&D to manufacturing process, including ▲reconstruction of Jeju's cosmetics factories ▲ Expansion of production, manufacturing, and test analysis facilities ▲ Production of cosmetics-related prototype ▲ Formulation development, among others.

The province plans to diversify product items to shore up the manufacturing base of Jeju's cosmetics.

0jeoni@newsis.com

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Source: Newsis (April 23, 2022)