Minister of SMEs and Startups, Young Lee, held a meeting with Marc-Antoine Jamet, Chairman of the Board of Directors of Cosmetics Valley at S-Factory in Seongsu-dong, where the 'K-Global Cluster' event was being held on Nov. 8th. The two sides signed an MOU in order to promote cooperations in the field of cosmetics between the two countries.
 
Cosmetic Valley, established in 1994, is the world's first and largest beauty field industry-academia-research cluster. Over 100 companies, including global companies such as LVMH, L'Oréal, and Guerlain, as well as small and medium-sized enterprises, are integrated, and 8,600 researchers from universities and research institutes develop and produce cosmetic raw materials.