Daegu will invite some 20 Chinese buyers of textiles and cosmetic products to the city for a meeting with local companies in the fashion and beauty industry, on July 24. The “2014 Business Meeting with Chinese K-Fashion & Beauty Buyers” will be attended by some 50 local companies. Consultations between the two sides will focus on the export of Korean-made premium products that are gaining popularity in China, including textiles, cosmetics, fashion items, accessories and other beauty products
The event is organized by Daegu City to help increase the exports by local companies to China, riding the craze of Hallyu throughout Asia, which was sparked by the extreme popularity of the television series “My Love from the Star.” For the meeting, the city has selected local fashion and beauty businesses that want to enter the Chinese market. It will arrange one-to-one business consultations between Korean companies and Chinese buyers.
The 50 small and medium-sized local companies that will attend the meeting include 30 from Daegu and 20 from Gyeongsangbuk-do, such as Hanbang Mein Cosmetics, Apharm and Wonjin Industrial Co.
The city will also offer a seminar on the Chinese certification and inspection systems in Bordo Hall, on the eighth floor of the Novotel Ambassador Hotel, in Daegu from 2 to 4 p.m., on the day. An expert from the China Certification & Inspection Group Korea Co. will attend the seminar to help local cosmetics and food companies that are facing difficulties in entering the Chinese market because of the complicated sanitation procedures.
One of the participating Chinese buyers is Beijing Hongsihe Clothes Co., a big textile company founded in 2006. The firm designs, produces and sells textile goods, as well as conducting research and development. Shanghai Ouxuejin Cosmetics Co. is a retailer of aesthetic products (professional cosmetics) used in beauty shops and maintains some 80 chain stores throughout China.
Shanghai Tianhe Accessory Co. is a wholesale seller of fashion jewelry and accessories and wants to import Korean-made fashion accessories. Shanghai Luoman Cosmetics Co. is among the top 100 beauty product manufacturing companies in China. It has a research team composed of experts in skincare, beauty and traditional Chinese medicine, who cooperate with the hospital affiliated with Shanghai Jiatong University. The company hopes to import Korean cosmetic products that help patients recover after cosmetic surgery.
The 20 Chinese buyers are from various Chinese cities, including Beijing, Shanghai, Qingdao and Shenzhen.
After the meeting, the Chinese buyers will participate in a medical tourist program and observe the industrial facilities in Korea, including POSCO in Pohang, before returning to China on July 26.
Bae Yeong-cheol, director of the Department of International Trade of the Daegu City Government, said, “We hope the small and medium-size companies in Daegu, which are undergoing financial difficulties because of the sluggish local economy and the falling exchange rate, will find a way to export their products to China through meetings with Chinese buyers. Interest in the Chinese market is now higher than ever among local companies as the probability of Korea and China to conclude a free trade agreement within this year is now greater thanks to the negotiations held recently in Daegu. I hope the meeting will serve as a precious chance for local consumer products, such as fashion items and cosmetics, to enter the Chinese market.”
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