|Chungcheongbuk-do Welcomes Exchange and Cooperation With GCC.EU|
- Meeting to share technologies with participation by 10 local companies and 21 European companies -
On May 23, Chungcheongbuk-do Provincial Office signed an MOU for the cooperation in building a cluster aiming at a global Korean beauty hub with Global Cosmetics Cluster Europe* (GCC.EU), the International Beauty Industry Trade Association** (IBITA), and the French Korean Chamber of Commerce and Industry*** (FKCCI) at the Global Cosmeceutical Center in Chungcheongbuk-do Province.
Lee Si-jong, governor of Chungcheongbuk-do Province, Masson Christophe, CEO of GCC.EU, Youn Joo-taek, chairman of IBITA, Yoon Sung-woon, CEO of FKCCI, and 31 domestic and overseas cosmetics companies participated in the agreement signing ceremony.
The parties agreed on joint efforts for building a global cosmetics cluster, mutual cooperation between Korean and European companies for the development of the cosmetics industry, sharing information and collaboration related to overseas marketing, and global trade promotion activities.
After the agreement signing ceremony, a meeting took place for sharing technologies between 10 cosmetics companies based in Chungcheongbuk-do Province and 21 in Europe.
The meeting began with introducing C#AVI, a cosmetics brand jointly developed by companies based in the province, then followed by introducing participating companies and their innovative products, which aroused great interest from GCC.EU officials.
After holding the 2013 Cosmetics & Beauty Expo to systematically cultivate the cosmetics industry, Chungcheongbuk-do Provincial Office became the first province in Korea to enact the Ordinance for Chungcheongbuk-do Beauty Industry Development for making diverse assistance policies. As of 2020, the production of cosmetics in the province took up 38.7% (ranked second nationwide) of national production and the amount of its export 32.2% (USD 2.442 billion), showing gradual growth to lead the Korean beauty industry.
An official of Chungcheongbuk-do Provincial Office said, “We expect this MOU to serve as an opportunity to build a network between local and European cosmetics companies, which will pave their way into global markets. We will not only put in effort to become the center of the Korean beauty industry by building a cluster through smoothly conducting current projects, including the construction of a cosmetics industrial complex, Cheongju Expo, and the Cosmetics Center in Cheongju (i.e. Osong and Ochang), which is the epicenter of the Korean beauty industry and the mecca of domestic cosmetics and beauty industries, but also take the lead in making Korea one of the world’s top three exporters of cosmetic products.”
* GCC.EU is an organization comprising 24 member countries in Europe and more with 40 clusters, established for sharing information and matching global buyers and cosmetics and beauty companies.
** IBITA, founded in 2012 as a non-profit corporation under the Ministry of SMEs and Startups, is the only association specialized in overseas exhibition in Korea, supervising 75 renowned overseas exhibitions and conventions using the network of 661 domestic member companies and 62,000 domestic and overseas buyers.
*** FKCCI is an institution that supervises over 60 events and conferences based on the network among 126 institutions in 96 countries.