Ministry of SMEs Partners with Olive Young for 'K-Beauty SME Globalization'

Announcement for Recruitment of Participating Companies in 'K-Super Rookie With Young'

The Ministry of SMEs and Startups announced on the 9th that it is recruiting participating companies for 'K-Super Rookie with Young' to foster small and medium-sized enterprises (SMEs) exporting cosmetics in collaboration with CJ Olive Young. 'K-Super Rookie with Young' is a program in which the Ministry of SMEs and Startups, together with Olive Young, discovers and nurtures SMEs possessing cosmetics with high potential for export and global market expansion.

The eligible participants are SMEs with cosmetics export performance of less than 1 million USD in the previous year. The evaluation process involves document review to verify application requirements and exclusion criteria, followed by assessment by Olive Young’s global professional merchandisers (MDs) on export potential, marketability, and business suitability, ultimately selecting around 20 companies.

Selected companies will receive various support programs linked to Olive Young’s infrastructure and the Ministry’s export support projects. First, Olive Young will provide overseas expansion strategy consulting through assigned MDs and create dedicated spaces in Olive Young stores located in tourist commercial areas to sell the selected companies’ products, enabling actual contact with buyers and customers. Support will also include sample distribution to Olive Young’s global customers and participation in buyer matching and consultation events hosted by Olive Young.

The Ministry of SMEs and Startups plans to provide linked support in 2025 for acquiring overseas certifications related to cosmetics and facilitating companies’ use of export platforms such as entry and sales on global shopping malls.

This content was produced with the assistance of AI translation services.