Gyeonggi Province to Foster Beauty Industry... Up to 10 Million Won Support for 20 SMEs

Gyeonggi Province and the Gyeonggi Association of Small and Medium Venture Businesses are openly recruiting 20 beauty-related small and medium-sized enterprises (SMEs) in the province to participate in this year's beauty industry development support program until May 7.

This program aims to strengthen the competitiveness of beauty SMEs in Gyeonggi Province and boost their sales and exports. It provides direct funding for design development and prototype production related to beauty product containers, components, branding, and package design.

Eligible applicants are SMEs headquartered or with factories located in Gyeonggi Province that are registered as cosmetics manufacturers, cosmetics responsible sellers, or customized cosmetics sellers under Article 2, Paragraph 2 of the Cosmetics Act with the Ministry of Food and Drug Safety. Selected companies can receive up to 10 million won in support for beauty design development and prototype production costs.

In addition, participating companies in the design development project will receive customized consulting and global social media (SNS) marketing support to help address the challenges faced by beauty SMEs.

Gyeonggi Provincial Government

Expert consulting will be provided in the fields of management, marketing, intellectual property rights, and export certification. In particular, this year, additional support will be offered for global SNS marketing to help participating companies enter the global market.

Companies wishing to participate can download the application forms from the Gyeonggi Association of Small and Medium Venture Businesses website (www.gsmba.kr) or Gyeonggi Business Secretary (www.egbiz.or.kr), complete them, and submit them by May 7.

Um Kiman, Director of the Bio Industry Division of Gyeonggi Province, stated, "The K-Beauty industry achieved a record-high cosmetics export value of $10.2 billion in 2024, establishing itself as a driving force for national economic growth and leading global beauty innovation. There is a need to further solidify our position in the global market through differentiated product competitiveness, innovative design, and enhanced sustainability. In particular, strategic support is essential to enhance the brand value of SMEs and facilitate their entry into overseas markets."