The French Chamber of Commerce in Korea (FKCCI) has signed a memorandum of understanding (MOU) with Cosmetic Valley, France's largest cosmetics industry cluster, to enhance exchanges and business cooperation between beauty companies in Korea and France. The two organizations plan to collaborate on strengthening the beauty business network between the two countries, sharing innovative technologies, and discovering new business opportunities.
FKCCI announced that the MOU was signed on October 15 during the global cosmetics innovation exhibition 'COSMETIC 360' held at the Carrousel du Louvre in Paris.
The signing ceremony was attended by Philippe Lee, Vice President and Honorary Chairman of FKCCI, and Marc Antoine Jamet, Secretary General of LVMH and Chairman of Cosmetic Valley.
Since establishing their first partnership in 2018, the two organizations have continued to foster exchanges in the cosmetics industry between Korea and France. In 2022, they expanded cooperation by facilitating a visit from a delegation of the Global Cosmetic Cluster (GCC) to Korea.
Under the new agreement, both sides aim to expand their domestic and international business networks and enhance cooperation for innovative technology exchange and new business development. A key objective is to broaden the intersections between companies in the beauty industries where both Korea and France have strengths and to identify practical business opportunities.
Previously, during President Lee Jae-myung's state visit to France last month, the two countries agreed to strengthen cooperation not only in artificial intelligence (AI), energy, mobility, and biotechnology but also in the beauty industry.
The establishment of business exchange hubs promoted by the two organizations is expected to serve as a foundation for expanding cooperation. FKCCI recently opened 'Maison France by FKCCI' in downtown Seoul to support business and networking for companies from both countries.
Cosmetic Valley is also working on establishing the 'Maison de la Cosmétique,' a support center for the French cosmetics industry, with a goal to open in 2028 in the Chartres region of France. The creation of these two hubs is anticipated to enhance the infrastructure supporting exchanges and business cooperation between Korean and French companies.
This MOU signing coincides with the 140th anniversary of diplomatic relations between Korea and France and the 40th anniversary of FKCCI. During the ceremony, Vice President Philippe Lee presented Chairman Jamet with a commemorative book detailing the history and milestones of economic cooperation between the two countries.
A representative from FKCCI stated, "Korea and France, leading trends in the global beauty industry, have become more closely connected through this agreement. We will do our utmost to serve as a bridge for both countries' beauty companies to achieve tangible business results in the global market."
FKCCI has been actively promoting exchanges and cooperation between the economic sectors of Korea and France in celebration of the 140th anniversary of diplomatic relations and the 40th anniversary of its establishment.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.