BeautyTheLive, Selected as a Promising Export SME by Seoul Regional Small and Medium Business Administration in 2020

BeautyTheLive, a global e-commerce specialist company (CEO Ryu Gwanghan), was selected as a promising export small and medium-sized enterprise (SME) for the second half of 2020 on the 18th.

The selection of promising export SMEs is awarded to companies that show high growth rates based on expertise such as growth potential, export performance capability, and financial soundness. BeautyTheLive was recognized for its new win-win cooperation model between brand companies and distributors as a global e-commerce market development partner for more than 10 domestic K-Beauty brands, acknowledging its new market development capability and expertise.

Companies selected as promising SMEs receive benefits such as preferential loan interest rates for management stabilization funds and preferential participation in domestic and overseas sales channel support projects.

BeautyTheLive is a global cross-border e-commerce specialist company established in 2016 by the first generation of Chinese Wanghong. Despite external business environment uncertainties such as the THAAD issue, the ban on Korean content (Hanhanryeong), and COVID-19, it has achieved high growth of over 300% annually and helped more than 20 domestic K-Beauty companies enter the Chinese market. In particular, it directly supplies products to about 300 clients on Taobao, a representative Chinese online platform, which corresponds to about 60% of the market size that Korean indie beauty brands can enter.

CEO Ryu Gwanghan stated, “Recently, the Chinese e-commerce market is leading the fastest growth and changes unprecedented worldwide, such as the integration of major SNS and e-commerce, the normalization of live commerce, and integrated online-offline marketing. In the future, we want to help more Korean beauty brands enter China through bold investments in China-oriented content.”