Sunday, October 23, at Korean Cultural Center of Paris, the mayor of Seoul Mr. Se-Hoon Oh and the president of Cosmetic ValleyMr. Marc-Antoine Jamet, signed a strategic partnership agreement between the French competitiveness cluster, national coordinator of the cosmetics industry, and the Seoul metropolitan government. This agreement will strengthen bilateral research and training collaborations between French and Korean universities, support innovation of start-ups and SMEs in both countries and develop their attractiveness to industry in each of their respective territories.
World leader and first exporter, second positive balance of trade in France, the French perfumery and cosmetics industry is evolving in a rapidly growing world market estimated at 600 billion euros. Today, it is mainly driven by Asia, a dynamic market with an average annual growth of 5%.
This agreement is the direct result of the mission that the competitiveness cluster carried out last May in South Korea with the support of the European Commission as part of the " Global Cosmetics Cluster Europe ". Its objective is to strengthen the French presence in a promising market of nearly 6 billion euros. In addition to signing several partnerships with " Osong Biovalley "Through this exchange, the cluster was able to build a relationship of trust with the municipal team of the Korean capital. This rapprochement comes at a time when the city of Seoul, buoyed by the wave of the "Green Revolution", is in the midst of a period of rapid growth. K-Beauty "which has allowed the country of the morning calm to rise in a few years to the 4th place in the world of cosmetics exporters, becoming a new competitor of our manufacturers, intends to become one of the world's beauty capitals, and has invested $ 168 million for the creation in 2023 of a district dedicated to fashion and beauty.
Marc-Antoine Jamet said: " For 30 years, Cosmetic Valley has been developing a strategy to support the internationalization of our cosmetics industry, and in particular its many SMEs. In a context of ever-increasing international competition, we are betting on cooperation with partners and in selected fields, where we have much to learn and do together. When France, a world leader and prescriber in the cosmetics market, meets South Korea, whose success and strength of its K-Beauty are no longer in question, I am certain that a winning combination is formed for both parties. This is the reason for this convention. "