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 –  ‘Skin Watchers’, a Korean cosmetics company, and ‘Emma Healthcare’, a Korean beauty device company. The two companies received an order from a Japanese company called ‘Clean 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, they’ll be on various e-commerce platforms including Makuake, a Japanese cloud funding company.

Skin Watchers’ Cleansing Oil was selected as one of the “Top 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

]]> http://heraldk.com/en/2021/10/29/incubation-of-promising-korean-companies/feed/ 0 http://heraldk.com/en/2021/07/30/korean-companies-activity-in-japan/ http://heraldk.com/en/2021/07/30/korean-companies-activity-in-japan/#comments Fri, 30 Jul 2021 01:00:42 +0000 http://heraldk.com/en/?p=72739

GB Soft Co,. Ltd, a company that develops software that measures biological signals using cameras that analyze lights, GaonN Co., Ltd., a company that makes vegetable based protein content; these two South Korean companies are currently having business consultations with Japanese companies.

 After being introduced to GB Soft by the LA Times Asia Journal, Elematec visited the Japanese company Data Scope. Data Scope, a developer of facial recognition software, established Shenzen Data Scope in China in collaboration with FOXCONN to produce the world’s largest face recognition camera and security camera. Data Scope proposed to combine the biometric AI software developed by GBSoft with their facial recognition software.Data Scope has inquired about the specifics regarding GBSofts technology and business capability. They asked about the license cost, the speed of their facial recognition software, or if a 2 month trial can be provided for testing purposes. With these questions in mind, Elematec and Data Scope are in the process of developing a plan as the two companies investigate the Japanese Market.

Elematec has also introduced GB Soft to Maxell. Maxell is a general electronics company that wishes to collaborate with GB Soft to develop a service platform. Maxell is preparing a partnership with a fitness app that is utilized in 170 locations in Japan. They aim to increase the number of users by integrating GB Soft’s vital sign reading technology. Maxell is currently researching the Japanese market as they plan for this project.

Furthermore, Elematec introduced GB Soft to Carecom as well. Carecom is a Japanese company that produces and sells nurse call systems. Their company accounts for 80% of Japan’s market share in that field. Carecom is preparing plans to collaborate with GB Soft to grow their company.

LA Times Asia Journal introduced GaonN to Japan’s Egami-Corp. Through Egami-Corp, GaonN was able to establish a business relationship with multiple Japanese companies. Two of those companies include Don Quijote (the largest discount store in Japan), and Sun Drug (the fourth largest drug store in Japan). Don Quijote is in the process of internally reviewing GaonN’s product and Sun Drug has completed their evaluation and began business consultation with Egami-Corp. Egami-Corp has already filed for approval for GoanN’s product from the Ministry of Health, Labor and Welfare (MHLW) in order to proceed with plans with Sun Drugs.

Due to the pandemic, Japanese businesses must overcome many adversities to operate not just internationally, but domestically as well. However, they continue to thrive in this environment due to superior technology, products, and services. As the LA Times Asia Journal continues to create a bridge between companies, the pandemic is no longer an obstacle for businesses. Japanese and Korean businesses continue to stay active as they create new trends in the market.

Mike Choi

Asia Journal

(Los Angeles Times Advertising Supplement)