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Ministry of Trade, Industry and Energy and KOTRA Join Hands with Export Agencies to Boost Exports to China
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Summarized by durumis AI
- The Ministry of Trade, Industry and Energy and KOTRA held the '2024 K-Beauty Shanghai' on May 22 in Shanghai and the '2024 K-Healthcare Beijing Delegation' on May 28 in Beijing to support Korean companies' entry into the Chinese cosmetics and healthcare market.
- The events included business forums, business meetings, and exhibition space operations to support Korean companies' entry into the Chinese market, with the Korea Testing & Research Institute (KTR), Korea Trade Insurance Corporation, and others participating to provide consulting and support.
- KOTRA plans to utilize these events to revitalize Korean-Chinese cooperation and support the expansion of Korean companies' exports to the Chinese cosmetics and healthcare market.
K-Beauty Shanghai (May 22) and K-Healthcare Beijing delegation (May 28) held consecutively
Cooperation with Korea Testing & Research Institute (KTR) and Korea Trade Insurance Corporation to support exports of our companies
The Ministry of Trade, Industry and Energy (Minister Ahn Duk-geun) and KOTRA (President Yoo Jung-yeol) held the '2024 K-Beauty Shanghai' in Shanghai, China on May 22, followed by the '2024 K-Healthcare Beijing Delegation' in Beijing on May 28. The event was held to respond to changes in China's cosmetics and healthcare market trends and accelerate exports to China.
First, at the 'K-Beauty Shanghai' held on the 22nd, a joint forum with the Korea Federation of SMEs, Gangnam-gu, Seoul, and Geumcheon-gu was held in conjunction with the 'Shanghai Beauty Exhibition (CBE 2024)' to host a △Korea-China Cosmetics Business Forum and △One-on-one Business Consultation. The forum analyzed changing cosmetic consumption trends such as consumption polarization and online and offline market reversals in cooperation with the China Customs Association and proposed local market entry strategies utilizing them. It particularly noted that online market share in China's cosmetic market surpassed 50% for the first time last year, opening up new export opportunities for Korean companies.
Following the forum, a business consultation was held for 30 Korean companies participating in the Korea Pavilion, facilitating consultations with buyers of online platforms such as Douyin and Xiaohongshu vendors. In addition, social marketing such as short form and live commerce was supported at the Korea Pavilion, helping to secure new distribution channels.
Following, at the 'K-Healthcare Beijing Delegation' held on the 28th in Beijing, a △Korea-China Healthcare Business Forum and △Business Consultation were held. An exhibition space was also created for potential Chinese partners to experience the products, maximizing the consultation effect. Considering the nature of the Chinese healthcare market, which is difficult to enter, consulting services were also provided by field. KOTRA FTA Utilization Support Center, Korea Trade Insurance Corporation, Korea Intellectual Property Protection Agency, and Korea Testing & Research Institute jointly operated consultation booths on site, providing one-stop support for consultations in △Trade Agreement Utilization, △Trade Insurance, △Intellectual Property, and △Certification.
At the Healthcare Forum, under the theme of 'Present and Future of Korea-China Healthcare Industry Cooperation', institutions and companies from both countries shared industry trends and cooperation cases. Korea Investment Partners Beijing Office and Shandong University Northeast Asia Research Center presented market and policy trends of both countries, and JFC International Hospital and Northland Bio shared cases of healthcare industry entry and cooperation. Finally, KTR China Branch and the Asia Research Institute of the Ministry of Commerce of China introduced certification methods and FTA and RCEP utilization methods related to the healthcare field.
Following, at the consultation, 25 Korean companies conducted one-on-one consultations with buyers on site. Leading K-Healthcare companies such as Ostem Implant, CeraGem, Jeong Kwan Jang, Chung Kun Dang Health, and The Zone BizOn, as well as promising domestic SMEs, participated in the event, aiming to penetrate the rapidly growing Chinese healthcare market.
Hwang Jae-won, head of KOTRA's China regional office, stated the purpose of the event, saying, “At a time when high-level exchanges are becoming active, such as the Korea-Japan-China summit, this business exchange event was held to revitalize cooperation between the two countries in the beauty and healthcare fields.” He also expressed his determination, saying, “China's cosmetics market is rapidly changing with domestic production, polarization, and onlineization, and the healthcare industry is expanding in terms of size and consumer class. KOTRA will do its utmost to boost exports to China in these areas.”
Website: http://www.kotra.or.kr
Contact
KOTRA
Public Relations Department
Lee Eun-hwa, Staff
02-3460-7025
