Seize ASEAN Beauty Market with 600 Million Consumer Population
-KITA participate in “Cosmobeaute Asia 2015” held in Malaysia composing Korean pavilion-
The Korea International Trade Association (Chairman, Kim In-ho) composed Korean pavilion and participated in the Cosmobeaute Asia 2015, 11th Malaysia International Exhibition & Conference on Cosmetics, Beauty & Spa held in Kuala Lumpur, Malaysia, from July 6th (Monday) to 9th (Thursday) in order to help Korean companies enter into the beauty markets in ASEAN region.
This year marks the 11th anniversary of the event and it is the largest beauty exhibition in ASEAN countries. 258 companies from 15 countries, including China, Germany, Thailand, HongKong, Indonesia, Malaysia, Hungary and so on participated in the fair and 15,000 people attended. Over the last three years, KITA has made efforts to establish “K-Beauty” brand by opening Korean pavilion and has been leading the beauty markets in the Southeast Asia by sending a variety of beauty companies to the region. During this fair, 26 Korean companies who produce cosmetics, nail products, beauty equipments, spa products, etc had one on one export consultation meetings with the buyers.
Jace Tan, an executive member at Asian Beauty Corner located in Malaysia, said “The number of consumers who are looking for Korean beauty products is increasing due to positive images of Korean celebrities, dramas and Korean beauty technology as well as Korean product’s quality and price competitiveness.” He added “Over the past 10-15 years, we have imported six Japanese cosmetics brands and five Korean cosmetics brands. Since Korean cosmetics’ quality and image have significantly improved, we are planning to increase the exports of Korean products.”
Lee Hong-gi, CEO of the Sunrise Family, participated in this event for the second time and said “We are aiming at entering into the larger ASEAN market rather than competing in the saturated domestic beauty market.” He also mentioned “In particular, we see a big growth potential in ASEAN market based on K-Wave. Since Malaysia is geographically in the center of ASEAN region and it has huge market demand, we are planning to enter into ASEAN market through this fair.”
Jang Ho-Geun, head of the International Marketing Group of KITA, said “Korean beauty products such as cosmetics are very popular in ASEAN market, including Malaysia.” He added “KITA will actively provide marketing supports to help Korean beauty companies make inroads into overseas markets in the future.”
