Gwangju City Selected as Final Winner in Ministry of Industry's CosmediCare Project Competition

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City announced on the 22nd that it has been finally selected for the Ministry of Trade, Industry and Energy's 2020 'Senior Cosmedi-Care Demonstration Center Construction Project.'

The cosmedi-care industry is a newly pioneered field by Gwangju City, combining dermatology with high-functional cosmetics and beauty device manufacturing, as well as beauty services, creating a high value-added new concept industry with rapid growth expected not only domestically but also in the global market.

Although there are about 150 small and medium-sized cosmetics companies in the Gwangju area, they have faced many difficulties in product development, production, and distribution due to ▲small company size ▲lack of excellent cosmetics production facilities (CGMP) ▲limitations in technology development ▲insufficient product evaluation and certification support systems ▲lack of global marketing capabilities.

Accordingly, Gwangju City plans to invest a total of 18 billion KRW by 2023, including 8 billion KRW in national funds, 8 billion KRW in city funds, and 2 billion KRW in private contributions, to establish a full-cycle one-stop support system from discovering cosmetics company demands to technology development and commercialization, thereby building a foundation for an export-leading K-Beauty industry.

The project is led by Chonnam National University Hospital, with participation from institutions such as Gwangju Technopark Foundation, Gwangju Senior-Friendly Industry Support Center, and Gwangju Cosmetics Industry Promotion Association, each performing tasks in their respective fields.

Chonnam National University Hospital will establish a clinical efficacy evaluation demonstration base and a product development system linked with hospital clinicians, supporting the evaluation of cosmedi-care related materials and products.

Gwangju Technopark will build excellent cosmetics production facilities and equipment, supporting the clustering of related companies and the demonstration of idea products.

Gwangju Senior-Friendly Industry Support Center will secure senior user suitability demonstration facilities and a digital-based database (DB), and analyze and utilize medical big data.

The Gwangju Cosmetics Industry Promotion Association will support joint marketing by discovering overseas buyers and assisting companies in participating in domestic and international exhibitions to strengthen the global competitiveness of products.

Through this project, Gwangju City expects to foster senior cosmedi-care convergence companies by 2030, achieving annual sales of 100 billion KRW, employment of 800 people, and 300 companies, thereby advancing as an export-leading region.

Son Kyung-jong, Director of the AI Industry Bureau of Gwangju City, said, “The cosmedi-care industry is a future high value-added industry that surpasses the existing cosmetics industry,” adding, “We will successfully promote the cosmedi-care industry and lay the foundation for it to grow as Gwangju’s future food industry.”

This content was produced with the assistance of AI translation services.