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| ▲ This photo provided by the Seoul city government shows Seoul Mayor Oh Se-hoon (R) and Cosmetic Valley President Marc-Antoine Jamet posing for photos after signing an agreement in Paris on Oct. 23, 2022. (Yonhap) |
Seoul mayor-cosmetic cooperation
Seoul Mayor Oh signs MOU on cooperation with chief of biggest French cosmetic cluster
SEOUL, Oct. 25 (Yonhap) -- Seoul Mayor Oh Se-hoon has signed a cooperation agreement with the chief of the biggest French cluster of cosmetic firms during a visit to Paris, officials said Tuesday.
Oh signed the memorandum of understanding with Marc-Antoine Jamet, president of Cosmetic Valley, at the Korean Cultural Center in Paris on Sunday (French time), according to Seoul city officials.
Established in 1994, Cosmetic Valley represents the largest concentration of fragrances and cosmetics resources in the world with 800 French and non-French firms as its members. Jamet serves as general secretary at French luxury goods group LVMH Moet Hennessy Louis Vuitton.
Under the MOU, the two sides will form a partnership dedicated to supporting promising beauty firms and jointly promote beauty products through their respective trade events, "Seoul Beauty Week" and "Cosmetic 360."
The agreement also calls for cooperation and regular exchange in nurturing human resources, networking and information sharing.
Seoul deems the MOU as an opportunity to help more Korean firms expand into the overseas market in line with the city's plan to invest a total of 200 billion won (US$139 million) through 2026 to turn the local beauty sector into a new growth engine.
"I expect this agreement could provide a boost to the fast-emerging Korean beauty industry and become opportunities to build new networks," Oh said during the signing event.
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