The Seoul Metropolitan Government signed a memorandum of understanding (MOU) with the French beauty industry cluster Cosmetic Valley at the Korean Cultural Center in France on October 23.
Major agreements include: ① establishment of a partnership between Seoul City and Cosmetic Valley to support promising beauty companies, ② support for product promotion and market development of participating companies through event linkage of ‘Cosmetics 360’ and ‘Seoul Beauty Week’, ③ constant exchange and cooperation (Nurturing beauty manpower, sharing beauty networks and information), etc.
Cosmetic Valley was established in 1994 as the world's first industry, academia and research cluster that established a beauty industry network. It has more than 100 French cosmetics companies such as Guerlain and Yves Saint Laurent, and member companies such as Shiseido in Japan and Pacific Europe in Korea.
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