Kolmar Korea announced today that it has signed a business agreement with the International Beauty Industry Trade Association (IBITA) to promote exports to the Middle East and North Africa (MENA).
IBITA is a non-profit corporation that was established in 2012 by the Ministry of SMEs and Startups for the purpose of strengthening the export capabilities of the Korean cosmetic industry.
In 2018, through a business agreement with UAE ESMA under the UAE government, it is serving as a representative of Korea to support the advancement of the Korean cosmetics industry into the Middle East.
With this agreement, Kolmar Korea will exclusively develop and produce cosmetics for customers in the Middle East through IBITA, and IBITA will actively support local promotion and distribution.
The two companies also plan to establish a cooperative system to help Kolmar Korea's customers advance into the Middle East.
Currently, Kolmar Korea has established a halal guarantee system at its Sejong and Bucheon plants to advance into the Middle East cosmetics market. This is to actively respond to the certification of halal cosmetics, which have strict production conditions.
Choi Hyun-gyu, CEO of Kolmar Korea, said, "Based on this agreement, we will expand our overseas business centered on China and North America to the Middle East and North Africa to expand our competitiveness in the global market."
