Korea Kolmar Recognized as First 'Returnee Company' Amid Strategic Reshoring Efforts

Korea Kolmar announced on the 27th that Minister of Trade, Industry and Energy, Kim Jeong-kwan, visited the Korea Kolmar Sejong factory, marking the company as this year's first recognized returnee company. The minister delivered a certificate of selection and addressed challenges faced by returning firms during a roundtable discussion.

During his visit at 9:30 AM, Kim inspected the major production facilities at the Sejong factory, joined by KOTRA President Kang Kyung-seong and Lee Sang-hoon, the head of the Korea Industrial Complex Corporation. Stakeholders from the ministry and industry observed the advanced cosmetic technology employed at the site, which serves as the global headquarters for Kolmar's production operations.

The Sejong facility produces products for over 4,500 domestic and international clients, having been the largest single factory in Asia at its establishment in 2014. This site generates an annual output of 890 million base cosmetics, including Korea Kolmar's sunscreen products, which have garnered significant global popularity.

The roundtable included representatives from eight recognized returnee companies, such as Yoon Sang-hyun, Vice Chairman of Kolmar Group, and leaders from companies like SIMTEK and Daehan Wire. Discussions focused on stimulating investment in returnee companies and improving support systems within the industry.

Minister Kim emphasized that corporate and national competitiveness in today's landscape hinges on securing a stable supply chain. He reiterated the government's commitment to make domestic return and regional investment the most rational and appealing choices for enterprises.

Yoon Sang-hyun highlighted the growing stature of 'Made in Korea' K-Beauty globally and articulated plans to bolster production capabilities from the Sejong base to respond actively to global demand. He assured that Kolmar Group aims to enhance K-Beauty's manufacturing competitiveness in alignment with government initiatives, playing a bridging role in the growth of the broader industry.

Previously, Korea Kolmar had consolidated its production within China to the Wuxi factory and expressed intentions to expand domestic production capabilities, resulting in its selection as the first reshoring company in January.