JEOLLABUK-DO < invest Korea

According to Yonhap News,

16 cosmetic companies nationwide held an agreement ceremony at the Namwon Cosmetics Industry Center on August 26, making commitment to move in to the Cosmetic Biz Center in Namwon-si, Jeollabuk-do.

When the Namwon Cosmetic Biz Center is completed in the first half of next year, these companies will move in.

The Cosmetic Biz Center is a rental apartment-type place to house tenant companies. The city and the Ministry of SMEs and Startups invested KRW 26.8 billion to build it in Cosmetics Concentration Complex in Noam Industrial Complex in Namwon-si, with three floors above the ground and a total floor area of 10,564 square meters.

The Center will have basic facilities for manufacturing cosmetics, with various support programs for companies to be provided.

It is capable of housing 36 companies in total.

When the Cosmetic Biz Center goes into full operation, a project to 'build eco-friendly cosmetics industry cluster'- in which the development of cosmetic raw materials, supply of raw material plants in large quantity, extraction of raw materials, and commercialization are carried out in one place-can be practically completed.

At the signing ceremony, Namwon's mayor said, "we've been receiving inquiries from companies wanting to move into the Cosmetic Biz Center," adding "we will act quickly to finalize the industry ecosystem and infrastructure so that Namwon can grow into a hub of the cosmetics industry."

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Source:Yonhap News (August 26, 2021)