"Up to 100 Million KRW Production Funding Support"... Jungjin Gong 'SME K-Beauty Loan' Announcement
Applications Open Starting on the 17th
The Small and Medium Business Corporation announced on the 9th that it has launched the 'SME K-Beauty Loan,' which provides funding for the production of new products by excellent cosmetics brands.
The newly introduced K-Beauty Loan this year is a policy fund designed to support small and medium-sized enterprises (SMEs) that face difficulties securing production funds by prioritizing payment for production based on purchase orders, reflecting the production characteristics of the cosmetics industry based on ODM (Original Design Manufacturer).
To ensure the successful establishment of the K-Beauty Loan, the Small and Medium Business Corporation signed a business agreement with the Korea Cosmetic Association to strengthen the competitiveness of excellent K-Beauty companies.
The K-Beauty Loan support targets ordering companies recommended by member companies of the Korea Cosmetic Association, and the Small and Medium Business Corporation provides policy funds to help these ordering companies produce innovative new products. The Corporation supports up to 100 million KRW per company, twice a year, within the purchase order amount specified in the purchase order through company evaluation.
The loan funds are expected to be used for new product production and sales-related expenses, supplying liquidity to the cosmetics industry and supporting the sustainable growth of K-Beauty.
Detailed information about the SME K-Beauty Loan program can be found on the Small and Medium Business Corporation’s website, and applications will be accepted starting from the 17th.
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Kang Seok-jin, Director of the Small and Medium Business Corporation, stated, "The cosmetics industry is a sector with growing global market demand linked to K-Content. Amid rapid changes in the trade environment, such as the imposition of mutual tariffs, we will spare no effort to support our cosmetics industry in securing global competitiveness through the K-Beauty Loan."
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