Gyeonggi Province Recruits Companies to Participate in K-Beauty Expo Bangkok, Targeting Largest Beauty Market in Southeast Asia

Createdd 2022-08-01 Hit 27

Contents

○ Gyeonggi Province recruits companies to participate in K-Beauty Expo Bangkok in December
– Application by 10 local exporting companies related to cosmetics and beauty products via egBiz website by August 18
– One-way airfare, one-to-one consultation matching with buyers, simultaneous interpretation and more provided in support
○ Bridgehead for market entry into Thailand, the second largest economic power among ASEAN countries and the largest beauty market in Southeast Asia

Gyeonggi Province is supporting the entry of promising local SMEs into Thailand, the largest beauty market in Southeast Asia.

Gyeonggi Province and the Gyeonggi FTA Business Center announced on August 1 that they are recruiting promising beauty-related consumer goods companies in the province to participate in K-Beauty Expo Bangkok 2022 that will be held in Thailand for three days from December 15 to 17.

The targeted companies are those with exports valued at less than USD 20 million in 2021 that focus on the export of promising consumer goods related to cosmetics and beauty and have offices or factories located in Gyeonggi Province.

Gyeonggi plans to select ten exemplary companies and provide them with one-way airfare (10 kilograms, 100%), interpretation services, one-to-one consultation matching with buyers and more.

K-Beauty Expo was first held in 2009 as a large-scale exposition to promote the Korean cosmetic industry and help innovative beauty companies advance into new markets. This year, the Expo will be held in Taiwan and Indonesia in August, Goyang City (Gyeonggi Province) in October, and Bangkok in December.

Thailand, where K-Beauty Expo Bangkok is to be held, is a member of the ASEAN-Korea Free Trade Area (FTA) and the Regional Comprehensive Economic Partnership (RCEP); it serves as a forward base for entry into the Association of Southeast Asian Nations (ASEAN) market. As the demand for Korean products increases in tandem with continued interest in Korean popular culture, Gyeonggi expects this event to be an ideal opportunity for companies seeking to enter Southeast Asian markets.

The province explained that approximately 1,000 beauty companies from Korea and abroad will participate in the Thailand Expo, and a synergy effect is expected as it will be held concurrently with the Bangkok Beauty Show.

Kim Tae-hyeon, Director of Gyeonggi’s Foreign Affairs and Trade Division, said, “There are many difficulties for companies seeking to enter overseas markets due to COVID-19 and the Russia-Ukraine War, so Gyeonggi plans to provide local SMEs with greater support for advancement into Thailand and nearby Southeast Asian markets.”

Online application and registration are possible until August 18 via the egBiz website (egbiz.or.kr). For details, contact the Gyeonggi FTA Business Center (+82-31-8064-1397).