Namwon-si Hosts 'Namwon Cosmetics Industry Idea Contest'

Published 04 Feb.2022 16:51(KST)

[Namwon=Asia Economy Honam Reporting Headquarters, Reporter Jeong Young-kwon] Namwon City in Jeonbuk is hosting the ‘2022 Namwon Cosmetics Industry Idea Contest’.

The city announced on the 4th that it is holding the idea contest to create a sustainable coexistence platform by linking the value of resource plants from the Namwon and Jirisan areas to the cosmetics industry, discovering innovative ideas, and laying the foundation for the development of the cosmetics industry.

Sponsored by the city and organized by the Namwon Cosmetics Industry Support Center (hereafter Namwon Cosmetics Support Center), the contest is themed around cosmetics planning and product development based on the Namwon and Jirisan concept.

Eligible participants include companies established within five years that have registered as responsible cosmetics sellers with the Ministry of Food and Drug Safety or prospective entrepreneurs who hold the qualification of responsible cosmetics sales manager, with at least one of these qualifications required to participate.

The application period is from the 14th of this month until the 25th of next month.

The commercialization of cosmetics ideas involves concretizing product planning based on ideas centered on cosmetics raw materials derived from resource plants in the Namwon and Jirisan areas, establishing commercialization plans, and developing formulations.

The grand prize winner will receive a cash prize of 4 million KRW, product manufacturing support worth 30 million KRW, one year of free office space at the Namwon Cosmetic Biz Center startup office, and professional commercialization consulting.

The excellence award winner will receive a cash prize of 2 million KRW, product manufacturing support worth 15 million KRW, and professional commercialization consulting.

Cosmetics idea planning involves concretizing product planning based on ideas centered on cosmetics raw materials from the Namwon and Jirisan areas and establishing commercialization plans.

Two winners will be selected for the merit award, each receiving a cash prize of 1 million KRW and professional commercialization consulting.

The judging committee, composed of representatives and professors from cosmetics-related institutions who are experts in the cosmetics field, will conduct the contest evaluation.

A city official said, “We hope many people interested in cosmetics product development and startups will participate in this first-ever idea contest hosted by the city,” adding, “We hope this contest will raise interest in cosmetics raw materials from resource plants in the Namwon and Jirisan areas and provide an opportunity for many to utilize them.”