2024 Osong Cosmetics Beauty Industry Expo
Life Science Complex to be held from the 15th to the 19th of next month
151 domestic companies including LG Household & Health Care participate
The ‘2024 Osong Cosmetics Beauty Industry Expo’, where you can see the excellence of K-beauty and everything about the domestic cosmetics industry at a glance, will be held at the Osong Life Science Complex in Chungcheongbuk-do from October 15 to 19. This event was started to make Chungcheongbuk-do the center of the cosmetics and beauty industry, following the success of the ‘Osong Cosmetics Beauty World Expo’ held in 2013, and has since established itself as a specialized expo for promoting cosmetics exports.
This year’s Expo, themed ‘Osong K-Beauty, Standing at the Center of the World’, will introduce and sell the latest beauty products in corporate pavilions, business pavilions, and an outdoor stage. There will also be export and purchase consultations for domestic and international buyers, an international conference for the cosmetics industry, an international beauty skills contest, participation events, and cultural and artistic performances. 151 cosmetics companies, including LG Household & Health Care, Kirin Cosmetics, Piontech, and Saimdang Cosmetics, will set up around 230 booths to exchange the latest information on the cosmetics and beauty industries. Osong, the venue for the event, is home to the ‘Osong Life Science Complex’, the only biotechnology (BT) specialized industrial complex in the country, and the ‘Advanced Medical Complex’, a specialized research complex. It is called the ‘largest biomedical industry cluster in Northeast Asia’ as six major national bio-industry organizations supporting the pharmaceutical and cosmetics industries, including the Ministry of Food and Drug Safety, have gathered here.
As of last year, Chungbuk accounts for 29.5% of the nation’s cosmetics production and 19.9% of exports. There are about 230 cosmetics manufacturing companies, and research and development, production, and administrative support for functional cosmetics that cross the boundaries between pharmaceuticals and cosmetics are carried out in one stop.
The Osong International K-Beauty Academy Center, which will become the forward base for the K-beauty industry, will be built at the end of next year. The center, which began construction in March on the site of the Osong Convention Center in Mansuri, Osong-eup, will be built with 1 underground floor and 5 above-ground floors (total area of 9,044㎡). This is a project that the Ministry of Health and Welfare and Chungcheongbuk-do are promoting with a budget of 32.4 billion won to secure the sustainability of K-beauty. It will build an export platform that will lead to experience, purchase, and commercialization, starting with education on the latest K-beauty trends for domestic and international beauty industry workers with actual purchasing power. The Osong Cosmetics Industrial Complex, which will be 796,824㎡ in size, will also be built in 2028. According to Chungcheongbuk-do, the beauty industry is expected to continue to grow by an average of about 5% per year due to the following factors: △ growth in purchasing power in emerging countries, △ rapid spread linked to the cultural industry, and △ increase in the elderly population with purchasing power. In particular, Asia, which has a high cultural connection with Korea, is expected to account for 46% of the global market.
Chungcheongbuk-do Governor Kim Young-hwan said, “Chungcheongbuk-do will strengthen its competitiveness in the global market and establish itself as a global cosmetics industry hub,” and added, “Through continued efforts and support, we will make Chungcheongbuk-do a key region for the cosmetics industry that leads innovation and growth.”
Cheongju = Reporter Jang Gi-woo [email protected]
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2024-09-25 09:28:24