KOTRA Beauty World Japan Nagoya, operating ‘K-Beauty’ joint exhibition hall in Nagoya, Japan from the 24th to the 26th

Foreign tourists testing Korean cosmetics
Foreign tourists testing Korean cosmetics Yonhap News photo

The Korea Trade-Investment Promotion Agency (KOTRA) will operate a K-beauty joint exhibition hall in Nagoya, Japan from the 24th to the 26th in ‘Beauty World Japan Nagoya’, an exhibition of cosmetics and beauty products.

According to KOTRA on the 24th, the exhibition is held every year in Tokyo and Osaka, but this is the first time it is held in Nagoya.

In the joint exhibition hall, 50 Korean companies that make mask packs, perfumes, color cosmetics, cosmetics for wrinkles and acne, and hair products will participate. Online export consultations and distribution network consultations are also being promoted.

According to the Japanese Ministry of Economy, Trade and Industry, as of 2021, the Japanese cosmetics market is worth about $35 billion. It is the third largest cosmetics market in the world after the US (US$77.7 billion) and China (US$57.2 billion).

According to the Japan Imported Cosmetics Association, Korea ranked first among Japan’s cosmetics importing countries with US$170 million from January to March this year. The share of Korean cosmetics in Japan is 25.4%.

France took second place with $150 million (22.1% share).

“Currently, we have discovered about 20 Korean cosmetics companies and are supplying them to about 10,000 distribution networks in Japan, and we plan to expand to about 50 within the next five years,” said Senku Hirai Midori, CEO of Japan. Senku is a Japanese cosmetics distribution company that imports and sells Korean cosmetics to over 10,000 major Japanese distribution networks, including Don Quijote, Aeon Mall, and Sugi Pharmacy.

Nam Woo-seok, head of the KOTRA Nagoya Trade Center, said, “We are expanding the business to support Korean cosmetics’ entry into Japan, which started as a sales promotion a few years ago, to exhibitions and distribution network collaboration.”

(Source : Yonhap News)

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