K-Beauty SMEs Begin Full-Scale Entry into Middle Eastern Market
Dispatch of K-Beauty Innovation Delegation to Saudi Arabia
19 Companies Including Cosmetics and Aesthetic Medical Devices
The Ministry of SMEs and Startups announced on the 6th that it has dispatched the ‘K-Beauty Innovation Delegation’ to Saudi Arabia to secure local awareness of K-beauty SMEs and startups and to promote entry into the Middle Eastern market.
The K-Innovation Delegation is a follow-up measure to the ‘Globalization Measures for SMEs and Startups’ announced by the Ministry of SMEs and Startups in May. After dispatching the K-Innovation Delegation to Vietnam for the first time in August, the second dispatch to Saudi Arabia was promoted this time. In particular, this time, the delegation was focused on the cosmetics sector, which is the top export item among SMEs with rapidly increasing exports recently.
The Ministry of SMEs and Startups formed the K-Beauty Innovation Delegation with 19 SMEs and startups in cosmetics, beauty medical devices, and more. The Innovation Delegation operates the K-Beauty exhibition and promotion hall at the ‘BIBAN 2024’ event held in Saudi Arabia. It plans to showcase the innovation and technological capabilities of K-Beauty in Saudi Arabia. A local buyer matching export consultation meeting will also be held. To secure local business networks, the delegation will also participate in business programs visiting local institutions.
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Oh Young-joo, Minister of SMEs and Startups, said, “The success of cosmetics exports was possible because there is a strong private ecosystem where SMEs with creative ideas can easily enter the market and innovate,” adding, “Through this K-Beauty Innovation Delegation, we will widely promote the innovation of K-Beauty and make it an opportunity to fully enter the Middle Eastern market.”
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