Incheon City Initiates Beauty Industry Revitalization... Fostering Beauty Star Companies and Normalizing 'Eoul' Cosmetics

[Asia Economy Reporter Park Hyesook] Incheon City is preparing a '4-Year Plan for Revitalizing the Incheon Beauty Industry (2021?2024)' to promote various projects aimed at the resurgence of the local beauty industry, which has been stagnant.

This plan was established by reflecting the opinions of stakeholders in the beauty sector through the 'K-Beauty Innovation Comprehensive Strategy' jointly announced by central government ministries in January this year and meetings related to revitalizing the Incheon beauty industry.

The plan focuses on three main points: fostering the beauty industry, building industry-academia-research networking, and normalizing the joint brand 'Oull' of Incheon cosmetics manufacturers.

The city intends to nurture the local beauty industry through fostering beauty star companies, providing management and technical consulting, supporting clinical trials, training specialized personnel for the K-Beauty industry, and supporting online marketing.

Additionally, the city will establish industry-academia-research networks by forming a beauty industry advisory committee and holding meetings and conferences among beauty companies.

Alongside this, to normalize the 'Oull' cosmetics brand, Incheon City signed a modification agreement with ICA, the operating company, in March and plans to launch 18 new and renewed products.

To promote and sell Oull products to Chinese consumers, ICA's China branch will be opened this month at Incheon's representative office in Weihai, China.

Furthermore, the city is preparing to apply for the government's 'K-Beauty Cluster Designation Project' call for proposals scheduled for the second half of this year.

If designated as a K-Beauty Cluster, Incheon will receive support from the central government for technology development, workforce training, and distribution and sales, laying the foundation for the autonomous growth of the cosmetics industry and emerging as a representative cultural space concentrated with K-Beauty Hallyu brands.

An Incheon city official stated, "Through this plan, we aim to add high value to beauty-related businesses, create a driving force for Incheon's economic growth, and realize the vision of becoming a leading beauty city. We will revitalize the Incheon cosmetics market and establish a foothold for the resurgence of the Incheon beauty industry."

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