Establishing a cooperative system to strengthen the competitiveness of research and development in K-beauty
The K-beauty Science (CEO Park Jae-hong), the best platform for strengthening K-beauty R&D competitiveness, met with the Korea Dermatological Science Corporation (Director Hwang Jae-sung) at the office of the business group in Osan, Gyeonggi-do on September 3, 2020.
At this meeting, the two sides signed an MOU to establish a close cooperation system for industrial development based on the enhancement of R&D competitiveness of the Korean cosmetics industry.
The business group headed by Professor Hwang Jae-sung of Kyung Hee University is the only research support organization specializing in cosmetics that has been revived after a two-year hiatus since the end of the project of the Global Cosmetics Research and Development Project, the predecessor of Kyung Hee University. Both the government and the political circle are showing much higher interest in K-beauty than in the past, but the most urgent R&D support is far from sufficient compared to other health and medical industries. The only way to stand out as a global beauty powerhouse is to strengthen research and development competitiveness, beating the checks of developed countries that envy K-beauty's leap and China's relentless pursuit of leading roles in the global beauty market. In particular, finding competent small and medium-sized enterprises and next-generation players is a necessary calling and task for K-beauty's 100-year-long project, as all the initiatives in research and development are concentrated in some top companies.
The K-Beauty Science and its business group are trying to rally all their capabilities to ensure that the government's support, which has barely set fire, is effective. We will also strive for sustainable development of the business group that serves as a control tower for domestic cosmetics R&D. There are four areas where the two sides agreed to strengthen cooperation through MOUs.
○ Mutual cooperation for discovering and exploring urgent R&D fields and securing capabilities for the development of the cosmetics industry and finding next-generation leaders with future visions
○ Mutual cooperation for inter-industry information and human exchanges to promote convergence and integration of the cosmetics industry
○ Mutual cooperation to promote the purpose and activities of the Dermatological Materials Leading Technology Development Project Group, R&D performance, etc.
○ Mutual cooperation in various fields for the development and growth of the cosmetics industry