At the "National Assembly K-Beauty Forum" held at the National Assembly building on Sept. 2, Analyst Park Jong-dae (Analyst, consumer goods team leader) analyzed that the leadership of the cosmetics industry has shifted from China, luxury, and large companies to non-Chinese, low-priced, and venture companies.
It was also pointed out that the Korean raw material industry has not been able to keep up with the rapid growth of K-beauty, and most premium raw materials are imported from France and other countries.
As a task for the sustainable growth of K-beauty, he called for △ securing global distribution power △ securing locations in North America and Europe △ changing the government's perception of the importance of brands (soft power).
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