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HANACOS Co., Ltd to actively export own brand 'Mosp' to the South-East Asia market, and launch local brand in the US
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An outstanding leader of the K-Beauty – HANACOS Co., Ltd

 

Brand Mosp to actively-export to the South-East Asia market

 

Expected Local Brand Launching in the US in the latter 2016


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A billion export-trade surpluses, 6th ranking in cosmetic export amounts while supplying to 133 countries

The record does not stop here. Korea has ranked in 2nd among cosmetic-imports in China, the export amount estimated to around 993 million USD. Under the difficult circumstances of the highest decrease in export the nation has faced, the record shown by the Korean Cosmetic business is indeed extraordinary. 
 

One of the leaders of this active export in the beauty industry, selling beauty worldwide, is a small hidden champion among the Korean Beauty business, located in Hoengsong, Gangwon-do.


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HANACOS Co., Ltd.

The company majors in ODM and OEM, and is not so familiar to the public but very well-acknowledged within their field. Remarkable reviews on their product development and quality assurance abilities are due to bold investment in R&D based on the firms Lab, as well as costly equipments in order for maximized competitiveness in quality. Also well acknowledged in the field of functional cosmetics, the firm prides on the outstandingly high quality of their BB Cream and CC Cream, among in its category. 
 

The firms effort has directly led to fruitful sales results. 
 

Last years sales were marked to be 11 billion KRW. The target sales of HANACOS have risen to 15 billion this year.
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Continuous Research and Strict Quality Assurance System led to Customer Trust


 

The power of the aggressive growth of HANACOS is the firms affiliated Laboratory. Numerous raw materials require strict income QC before being warehoused, and the process becomes even stricter till the final product is produced. The persistence to strict and severe QC process, due to the product being applied directly onto human skin, has directly led to customers trust and loyalty. 
 

The firm currently supplies their products to over 200 domestic & international customers, including famous top cosmetic brands. To 20 brand-holders, HANACOS supplies their own brand Mosp, fixing 10% of their annual sales share. 
 

Once international export stabilizes, the firm plans to build a full-fledged distribution channel through the domestic market, within the next 5 years.
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14 years of business, hidden champion of the cosmetic biz, expected sales of 15 billion


 

CEO Mr. Joung-Kun Choi is planning annual sales growth of 40% through international export within the next 2 years. This directly translates into the firms resolution to meet its turning-point of advancing into the international market. 
 

This pledge is also due to the expected launch of HANACOS brand and products in the United States this coming latter year. The company has established a joint venture, Great Ventures Inc, with the distribution-specialized firm, Pacific Group of the US. The share being 50%, HANACOS will be in charge for development and production of the products, which is expected for official launch in the US.
 

The firm has already completed registration of establishment. Now the firm is cautiously preparing at its last stage, after plenty preparation and revision regarding the brand launching.

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The factory at Hochimin City, Vietnam, completed on 2014, has also completed preparation for actual production lines to specifically target the South-East Asia market. HANACOS is the second among the Korean firms who established a factory plant in the local area of Vietnam, as means of a base to enter the market. This clearly shows that the firm was quite quick to respond to the expected market needs. 
 

The domestic market is already over-saturated, so naturally, export market is now at its main focus. We produce almost all categories of cosmetics, but our marketing target is especially highlighted towards the age of 20s to early 30s. South-East Asia shows remarkable growth in this specific age target, whose purchasing power is at its highest; this means the market has great potential. Growth of social activity/employment of women population is the index of sales results. This is the reason for the factory establishment, and we plan to focus on overseas export over the next 2 years. Overseas Marketing Director, Mr. Hongbae Kim states.

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Aiming to grow together with the customer, and local society 
 

Mr. Choi, CEO of HANACOS, states that the firms value lies in growing together. He strongly believes that the true value of a firms existence is based in accompanied growth with the customer and local society. Communication with the employees is also of great importance. 
 

The operation policy is also shown through the firms name. HANACOS is the compound of HANA - which refers to big, leading and unite – and COSMETIC
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Every 1st of July, on the firms anniversary of establishment, employees gather for a Field Day, and the whole party celebrates the year ends together by watching movies. The firm also supports University Scholarships to employees children, and a month vacation to multicultural employees so that they may visit their homeland. Even at its peak, the firm strictly forbids over-working on every Wednesdays and Fridays, so that employees can spend their evenings with their family. 
 

Every employee must attend 20 minutes routine of daily stretching as a warm-up, before they start their days work. The firm has recently increased the break time from 10 minutes to 15. The management philosophy, which considerate care toward employees directly connects to advancement of product quality, is shown.
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A woman without paint is like food without salt. 
 

A famous phrase written by Plautus, a Roman philosopher and dramatist. 
 

Now it does not only limit to women. It is now the era of men wearing make-up. Beautiful people make the world a beautiful place. 
 

This, is the world HANACOS Co., Ltd pursues.



Contact: HANACOS Co., Ltd (www.hanacos.com), 160 Heongsong-gun, Dunnae-myeon, Gangwo-do, Korea, 033-345-6145

Written : Chul-Young Lee, Guest Journalist

Photography : Chul-Young Lee, Public Relations of HANACOS Co., Ltd

 


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