Seoul, Korea – The video conference for cosmetics in the Greater China region (China, Southeast Asia) hosted by the Korea Beauty Industry Trade Association (KOBITA, a Korean corporation) ended successfully with the participation of 39 promising Korean beauty companies over two days (November 19th and 20th) at a consultation center established in Seoul.
The video conference had participation from 39 SMEs in the Korean cosmetics and beauty field, along with cosmetics field employees and some 80 foreign buyers with a high interest in Korean cosmetics from the Greater China Region and Southeast Asian countries. As a large-scale video conference with 120 companies participating both domestic and foreign, a great deal of attention was fixed on workers in the domestic beauty industry.
This overseas buyer conference served as an alternative export consortium through a conversion of the existing overseas business conference (trade mission) into an online business video conference with support by the Korean Federation of SMEs (KBIZ) to develop overseas markets for the shrinking cosmetics market and SMEs that are having difficulty in exporting overseas due to the continued spread of COVID-19.
In addition, KOBITA, the organizer of the event and an association that has worked tirelessly for the development of the industry, has promoted overseas expansion of SMEs and Korean beauty through various overseas beauty exhibitions including the Beyond Beauty Asean Bangkok Expo, Cosmo Beaute Vietnam, Shanghai Beauty Expo (CBE) in China, and the Chengdu Beauty Expo to promote Korean beauty exports. In a situation making it difficult to support and participate in domestic/overseas beauty fairs due to the continued COVID-19 pandemic, a video conference was held with K-BIZ for the China and Southeast Asia region to promote overseas marketing support for promising domestic beauty companies.
Overseas buyers and companies participating in the conference were able to use video consultation to see and listen to the details of the products made by Korean companies. For the two days of the conference, buyers from the Greater China region (China, Taiwan, Hong Kong) and Southeast Asia (Vietnam, Thailand, Philippines, etc.) logged in to the consultation program where they were given enthusiastic consultation from each company participating, in the process of which the Korean companies that participated achieved amounts of $8,842,650 in consultation and $2,860,600 in contract promotion.
A participant in the video conference from the beauty field hoped for continued support from the government to enter the Chinese and Southeast Asian markets where Korean beauty products are in high demand, saying, “This was a great opportunity to promote the excellence of Korean beauty in Greater China and Southeast Asia and for Korean beauty companies to develop markets there.”
Kim Sungsu, the chair of KOBITA, stated that generous support would continue to be provided to allow small and medium-sized enterprises (SMEs) to provide foreign trade consultations in Korea in the future, saying that “Through trade consultations conducted via the offline conferences before now and the online video conference held this time, the time and physical burden of many SMEs have been reduced and we should also see an improved counselling effect.”
The Korea Beauty Industry Trade Association intends to continue to operate and support a number of overseas fairs and conferences in addition to the conference in 2021.
Organization: KBIZ (Korea Federation of SMEs); KOBITA (Korea Beauty Industry Trade Association); Bridging korea
Contact: Rina Kim; Eddie.yun
Telephone: +82 70-4327-5366; +82 2-555-8897
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