Minister Lee So-young of the Ministry of SMEs and Startups visited Korea Kolmar, a cosmetics manufacturer, to assess the competitiveness of the 'K-Beauty' industry and listen to industry concerns.
According to the ministry, Lee visited the Korea Kolmar factory in Sejong on the afternoon of October 16, where she toured the production site and held a meeting. Attendees included Lee, Sim Jae-yoon, director of the ministry, and Park Seung-rok, head of the Daejeon-Sejong Small and Medium Business Administration, along with Korea Kolmar's CEO Choi Hyun-kyu and other executives.
Korea Kolmar is a leading company in the K-Beauty industry, supporting the growth of small and indie brands by assisting in product development, production, quality control, and international expansion.
Choi Hyun-kyu stated, "Each country has different regulations regarding cosmetics. Some countries prohibit fluoride in products, and functional cosmetics or pharmaceuticals are categorized based on ingredients," adding that Korea Kolmar provides relevant information to indie brand companies.
Thanks to the growth of K-Beauty, small business exports surpassed $640 billion in the first half of this year, marking the highest record to date. Cosmetics exports reached $50.7 billion, a 30.7% increase compared to the same period last year, making it the top export item for small businesses. In the first half of this year, basic cosmetics accounted for $54.8 billion, or 74.7%, of total domestic cosmetics exports. Korea Kolmar also sees a significant portion of its revenue from skincare (50%) and sun care (26%).
The Sejong factory serves as a key production base to meet this global demand, producing 890 million cosmetics annually. Recently popular sun care and skincare products from Korea Kolmar are also produced entirely at this facility.
In the second quarter of this year, Korea Kolmar became the first company in the domestic ODM industry to surpass 100 billion won in quarterly operating profit.
During the meeting, various opinions were exchanged regarding the continued growth of K-Beauty. Choi explained, "The biggest challenge for indie brand companies is the prevalence of imitation products, especially from Asia, including China." The ministry is currently exploring countermeasures in collaboration with the Intellectual Property Office.
Meanwhile, Korea Kolmar plans to strengthen its production capacity centered around the Sejong factory to respond to global K-Beauty demand. Earlier this year, it was selected as a reshoring company after closing its factory in Beijing, China, and expanding its Sejong facility. The company currently operates a basic cosmetics factory in Sejong, a color cosmetics factory in Bucheon, and a comprehensive technology center, while also maintaining production facilities in the United States, China, and Canada.
According to the ministry, Lee visited the Korea Kolmar factory in Sejong on the afternoon of October 16, where she toured the production site and held a meeting. Attendees included Lee, Sim Jae-yoon, director of the ministry, and Park Seung-rok, head of the Daejeon-Sejong Small and Medium Business Administration, along with Korea Kolmar's CEO Choi Hyun-kyu and other executives.
Korea Kolmar is a leading company in the K-Beauty industry, supporting the growth of small and indie brands by assisting in product development, production, quality control, and international expansion.
Choi Hyun-kyu stated, "Each country has different regulations regarding cosmetics. Some countries prohibit fluoride in products, and functional cosmetics or pharmaceuticals are categorized based on ingredients," adding that Korea Kolmar provides relevant information to indie brand companies.
Thanks to the growth of K-Beauty, small business exports surpassed $640 billion in the first half of this year, marking the highest record to date. Cosmetics exports reached $50.7 billion, a 30.7% increase compared to the same period last year, making it the top export item for small businesses. In the first half of this year, basic cosmetics accounted for $54.8 billion, or 74.7%, of total domestic cosmetics exports. Korea Kolmar also sees a significant portion of its revenue from skincare (50%) and sun care (26%).
The Sejong factory serves as a key production base to meet this global demand, producing 890 million cosmetics annually. Recently popular sun care and skincare products from Korea Kolmar are also produced entirely at this facility.
In the second quarter of this year, Korea Kolmar became the first company in the domestic ODM industry to surpass 100 billion won in quarterly operating profit.
During the meeting, various opinions were exchanged regarding the continued growth of K-Beauty. Choi explained, "The biggest challenge for indie brand companies is the prevalence of imitation products, especially from Asia, including China." The ministry is currently exploring countermeasures in collaboration with the Intellectual Property Office.
Meanwhile, Korea Kolmar plans to strengthen its production capacity centered around the Sejong factory to respond to global K-Beauty demand. Earlier this year, it was selected as a reshoring company after closing its factory in Beijing, China, and expanding its Sejong facility. The company currently operates a basic cosmetics factory in Sejong, a color cosmetics factory in Bucheon, and a comprehensive technology center, while also maintaining production facilities in the United States, China, and Canada.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.