▲ The Korea-China-Japan Cosmetics Association Exchange Meeting, co-hosted by the China Association of Fragrance and Fragrance Cosmetics (CAFFCI) and Rich 24H China, was held in Jinan, China from the 24th to the 26th. It was held along with the general meeting schedule. The photo is from the Cosmetics Industry Sustainability Forum held on the 26th. <Photo provided by Riichi 24H Korea>

The top three Asian cosmetics companies - Korea, China, and Japan - met for the first time in four years. This time, the scale was even larger with the EU and ASEAN participating.

The Korea-China-Japan Cosmetics Association Exchange Meeting, co-hosted by the China Association of Fragrance and Fragrance Cosmetics (CAFFCI), the China Cosmetics Association, and Liichi 24H China, opened on the 26th (Sunday) in Jinan, China.

The Korea-China-Japan Cosmetics Association Exchange Meeting agreed in principle to tour each country and be held every three years since 2006, but was discontinued due to internal and external factors such as the COVID-19 pandemic, and was held for the first time in about four years since 2019. will be accomplished.

This year's exchange meeting, held at the Kempinski Hotel in Jinan, China, was held along with the regular general meeting of the China Cosmetics Association. △ Regular general meeting on the 24th (Friday) △ On the 25th (Sat), programs such as cosmetics industry outlook conference, fragrance safety session, and Chinese market brand building strategy were held.

On the 26th (Sunday), △ Cosmetics Industry Sustainability Forum △ China Fragrance Forum △ International Cosmetics Forum & Exchange were held.

In addition to the fact that this exchange meeting was held for the first time in four years, it can be said to have special meaning in that not only the Korea-China-Japan Cosmetic Associations, but also the EU cosmetics association Cosmetics Europe and ASEAN cosmetics industry officials and officials are attending. In other words, by expanding to three countries (Korea, China, and Japan) and two regions (Europe and ASEAN), we were able to exchange opinions and information on the overall industry (regulations, trends, etc.) for each country and region.

In the case of Korea, it was confirmed that the Korea Cosmetics Association organized a visiting delegation led by Vice President Yeon Jae-ho, and that a large number of officials from major domestic companies and Chinese branches attended.

Rich 24H China Consulting Group, which co-hosts this exchange meeting with the China Cosmetics Association, also attended, including officials from its Chinese headquarters, Son Seong-min, CEO of Rich 24H Korea Co., Ltd., and heads of U.S. and Japanese subsidiaries.

Regarding this, CEO Son Seong-min said, “As a reflection of the recent regulatory changes in China and the fact that Korea, China, and Japan are closely watching market changes in each country facing various situations, a total of 700 related people attended this event. “I attended,” he said. “I understand that sensitive issues that are difficult to disclose through official announcements were discussed.”

He also said, “Given the atmosphere of the second half of this year, such as the visit of the Ministry of Food and Drug Safety of the Republic of Korea to China in September, the visit of the Ministry of Food and Drug Safety of the Republic of Korea in October, and the visit of the association to China in November, new policies desired from the private sector will begin from the first half of next year. He expressed his expectations, saying, “There is a possibility that the establishment of exchange relations between the Korean and Chinese cosmetics industries will enter a full-fledged phase.”