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Gwangju city to foster so called cosmedicare industry
The city of Gwangju kickstarts a biz-support program, particularly designed to promote what’s called “cosmedicare” industry, which combines cosmetics with medical aesthetics business. The city government said that the program was chosen as one of the trade industry led projects to assess if the business is commercially valid or not.
The industry encompasses a full range of high-quality dermatological skin care products and aesthetic devices, along with beauty services.
Pumping as much as KRW 18 billion in total by the end of 2023 into the program, the local authorities steps into each step of business cycle from market research to identify demand, technological development to commercialization.
Chonnam National University Hospital takes the role of main orchestrator of the scheme, whereas Gwangju Technopark, Gwangju Senior Technology Center and Gwangju cosmetics industry promotion agency are responsible for sponsorship to support the program. The city government unleashed a plan to scale the business up, targeting over KRW 100 billion in annual sales and 800 new jobs, adding 300 startups to the existing platforms by the end of the year 2030.
sangwon700@yna.co.kr
** This article was translated from Korean.
Date
2020.07.28
Views
373
According to Yonhap News,
The city of Gwangju kickstarts a biz-support program, particularly designed to promote what’s called “cosmedicare” industry, which combines cosmetics with medical aesthetics business. The city government said that the program was chosen as one of the trade industry led projects to assess if the business is commercially valid or not.
The industry encompasses a full range of high-quality dermatological skin care products and aesthetic devices, along with beauty services.
Pumping as much as KRW 18 billion in total by the end of 2023 into the program, the local authorities steps into each step of business cycle from market research to identify demand, technological development to commercialization.
Chonnam National University Hospital takes the role of main orchestrator of the scheme, whereas Gwangju Technopark, Gwangju Senior Technology Center and Gwangju cosmetics industry promotion agency are responsible for sponsorship to support the program. The city government unleashed a plan to scale the business up, targeting over KRW 100 billion in annual sales and 800 new jobs, adding 300 startups to the existing platforms by the end of the year 2030.
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sangwon700@yna.co.kr
Source: Yonhap News (Jul 22 , 2020)
** This article was translated from Korean.