Kolmar Korea (161890.KS) said on the 18th that Lee So-young, minister of SMEs and startups, visited its Sejong plant in Jeonui-myeon, Sejong, on the 16th to review the competitiveness of the K-beauty industry and hear concerns from the sector. It was the first visit to a private company by Lee, who took office last month.
Lee toured the main production facilities to see Kolmar Korea's cosmetics technology firsthand and held a meeting with company officials. The meeting was attended by Lee, Shim Jae-yoon, a director general at the Ministry of SMEs and Startups, and Park Seung-rok, head of the Daejeon-Sejong regional SME administration, along with Kolmar Korea CEO Choi Hyun-kyu, production division head Lee Young-joo and Sejong plant manager Kim Young-hyun. The participants discussed difficulties facing the beauty industry and exchanged views on policy direction and support measures to strengthen the competitiveness of cosmetics companies.
Lee's choice of Kolmar Korea for her first visit to a private company is seen as reflecting the rapid growth of K-beauty. Driven by that growth, exports by small and medium-sized enterprises surpassed $64 billion in the first half of this year, a record high. Cosmetics exports reached $5.07 billion, up 30.7% from a year earlier, ranking first among SME export items. Skincare products accounted for 74.7% of South Korea's cosmetics exports in the first half, and Kolmar Korea's Sejong plant is regarded as a core production base, turning out 890 million cosmetics products a year including skincare and suncare items.
"We will do our best to help small and independent brands strengthen their competitiveness in overseas markets," Choi said. "We will continue to work closely with our clients and contribute to the growth of K-beauty."
Meanwhile, Kolmar Korea plans to expand its production capacity centered on the Sejong plant as global demand for "Made in Korea" products grows. Earlier this year, the company was designated South Korea's first reshoring company after withdrawing from its plant in Beijing, China, and expanding its Sejong facility.