Incubation of promising Korean Companies

trade

Two Korean small and medium-sized enterprises (SMEs) that are being incubated by LA Times Asia Journal are on the verge of exporting their products to Japan –혻 쁓kin Watchers, a Korean cosmetics company, and 쁄mma Healthcare, a Korean beauty device company. The two companies received an order from a Japanese company called 쁂lean First. Clean First mainly dealt with the solar power industry, however they began exploring other industries as of recently. They have taken interest in the cosmetic and beauty device industry after being introduced to Skin Watchers and Emma Healthcare.

Clean First plans to collaborate with Toda Corp., as partners in Japan, to launch the beauty business. They are intending to enter Don Quijote which is a Japanese general discount store. In addition, they셪l be on various e-commerce platforms including Makuake, a Japanese cloud funding company.

skinwatchers_cleansing oil

Skin Watchers’ Cleansing Oil was selected as one of the 쏷op 27 Cleansing Oil by ELLE France Beauty Editor and Consumer evaluation worldwide. It is a product that is on par with luxurious brands such as Shu Uemura, Clinique, Origins, Shiseido, Clarins, Fresh, Biotherm, and Christian Dior. In addition, instead of chemical oil and inexpensive oil, it is made of premium lightweight and moisturizing oils such as apricot seed oil, macadamia seed oil, and meadow foam seed oil.

Emma Healthcare is to introduce their beauty device, Plalucy to Japan. It uses the principle that the ions (1/1000 the size of nanoparticles) in the plasma penetrate the skin and promote skin regeneration. The radical in plasma is the only natural substance on Earth that is completely harmless to the human body, with sterilizing power 2,000 times more than ozone and 180 times more ultraviolet rays. Because of its hydrophilic nature, people with good skin can definitely feel its effect when applying cosmetic products on their skin after treating it with the PlaLucy. The ions and radicals can reliably and safely eliminate inflammation and bacteria in the skin.

Clean First, which appreciated the value of these two companies’ products, is drawing expectations and attention on how much they will expand their operations into the Japanese market. We look forward to seeing the next promising enterprises such as Skin Watchers and Emma Healthcare among the Korean SMEs incubated by the LA Times Asia Journal.

The term, an incubator, refers to a business operator that provides business space to prospective start-ups with fresh ideas and technology or venture entrepreneurs in the early stages of their start-ups and increases the success rate of start-ups through management consulting and technology guidance. Unlike start-up investment companies that have simply served as the main players in the past, they play a role in raising companies by establishing, marketing, and promoting companies as well as providing good ideas. Currently, large companies, venture companies, start-up investment companies, accountants, lawyers, and college students are actively entering the venture incubation business because they can expect high investment returns through the growth of promising venture companies they have discovered, especially companies. On the other hand, startups receiving support from them have the advantage of reducing huge initial investment costs in their businesses and focusing only on R&D, away from various problems such as technology, management guidance, law, accounting, and consulting. However, the Aberdeen Group in the United States recently published a study showing that more than 70% of current incubators will be eliminated within years due to lack of expertise.

I only have ideas, but I don’t have money, planning, or marketing skills. Venture incubation is what solves these problems and raises them into decent companies. To this end, it provides comprehensive support for business feasibility evaluation as well as manpower and funds necessary for start-ups. When someone with an idea comes, it helps modify and supplement it in the direction that the business can do, and helps in all processes such as planning, strategy establishment, financing, and marketing. Sometimes it helps even with the public offering. Incubating companies that do this can be said to be a kind of source of nutrition that sprouts potential venture companies amid the craze for venture companies that occur dozens of times a day.

As an overseas publishing media (LA Times Asia Journal), I think it is a true incubation to verify the intensive introduction, direct connection, trade, and investment of Korean venture companies to Japan and the United States.

Mike Choi

Asia Journal