* Date : 2016-08-20
K-Beauty and the Growth of the Cosmeceutical Market
Pharmaceutical companies are accelerating expansion into the cosmetics sector. They are making bold investments targeting the so-called cosmeceutical market. Cosmeceutical is an amalgamation of the words 'cosmetic' and 'pharmaceutical.' It refers to treatment cosmetics from pharmaceutical companies whose effects have been medically demonstrated. Despite a downturn in the domestic market, cosmeceuticals have been posting double-digit annual growth rates of up to 15%. They appeal to consumers with the strategy of focusing on the professionalism that is tied to medicine, and effectiveness of specific components. Experts in related fields predict that if limitations such as distribution routes and consumer perception are dealt with, an even more successful synergy could be attained. We examine the present and future of the cosmeceutical market.
Outlook and Challenges for the Rising Biometrics Industry
Biometric technologies that use unique bio-information such as veins, irides, gait and signature methods are gaining attention. Biometric verification is convenient and highly secure, but the consequences of information leakage is much higher. We take a look at the outlook and challenges for the coming era of biometric verification.
Youth Start-up Food Trucks: An Icon of Regulation Reform
Street food sold from food trucks is a rising dining industry that has yet to be popularized in Korea. With the government lifting various regulations 2 years ago in a bid to address youth unemployment, food trucks are cited as an important example of regulation reform. We examine how promotion policies have affected the operation of food trucks.
Developing the Sharing Economy! Outlook for Korea's Own Uber and AirBnB
Uber and AirBnB have become global giants in the sharing economy which continues to grow exponentially worldwide. The sharing economy is expected to reach 335 billion dollars in 2025. From car sharing to office sharing, a wide ranging of sharing economy services are being launched in Korea as well. However, they face challenges such as opposition from traditional businesses and regulations. The government responded in February with its plan to foster new industries, which contained measures to ease regulations and support the sharing economy. We take a look at the rise of the sharing economy and think about its future in Korea.