Amazon to support K-beauty's global expansion

Hannah Shin, the head of Amazon Global Selling Korea, speaks during a press conference held at Gangnam District, southern Seoul, on Wednesday. [AMAZON GLOBAL SELLING KOREA] Amazon Global Selling Korea said it will deepen its involvement in the K-beauty industry by launching a new initiative aimed at offering a broader range of Korean brand products to global customers. The new initiative, named "Project K-Beauty Go Big," seeks to simplify the process for Korean beauty brands to sell and market their products internationally via Amazon, and is in response to the growing global demand for the products, according to the company during a press conference held on Wednesday in Gangnam, southern Seoul. "K-beauty is in its golden age," Hanna Shin, the head of Amazon Global Selling Korea said, noting that Korea became the world's fourth-largest cosmetics exporter by reaching over $1 billion in U.S. exports for the first time last year. Shin also talked about the past, when Koreans would search for cosmetics abroad, and said the situation has now reversed, with stores like Olive Young, a Korean cosmetics retailer, becoming must-visit destinations for international visitors. She also acknowledged the role of K-pop and Korean dramas, saying that the rising global interest in K-beauty is driven by them, with a significant demand for Korean skin care products. Shin highlighted that the growth of the industry was not solely driven by large conglomerates, but also small- and medium-sized enterprises (SMEs), or indie brands. "Small and medium-sized companies accounted for 67.4 percent of cosmetic exports in the first quarter of this year," Shin said. To capitalize on this trend, Amazon's new project aims to connect these indie brands with global customers. "Project K-Beauty Go Big" will support K-beauty sellers by linking them with Korean manufacturers, covering the entire selling journey, including planning, manufacturing and branding, according to Amazon Global Selling Korea. The project will address overseas regulations, a significant barrier for domestic brands entering the global market. It also shared its plans to collaborate with government agencies and beauty associations to facilitate a smooth entry for K-beauty brands onto the global stage. "We believe that within three years, the number of K-beauty sellers will increase significantly through 'Project K-Beauty Go Big,'" Shin said. BY KIM JI-YE [[email protected]]