Antiaging Cosmeceuticals in Korea and Open Innovation in the Era of the 4th Industrial Revolution: From Research to Business

Kyu-Ok Shin and Hang-Sik Park
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Kyu-Ok Shin: Department of Beauty and Cosmetic Science, Eulji University, Seongnam 13135, Korea
Hang-Sik Park: Faculty of Liberal Arts, Eulji University, Seongnam 13135, Korea

Sustainability, 2019, vol. 11, issue 3, 1-9

Abstract: The importance of the healthcare industry has increased and it has thrived, although the cosmetic industry of Korea has been in depression. A recently issued group of items in Korea, ‘cosmeceuticals’, is defined as a combination of pharmaceuticals and cosmetics proven to have medical effectiveness. Antiaging cosmeceuticals in Korea have performed well in terms of expanding business by combining with beauty services, so they are viewed as high-valued items. This fact supports the evidence that there are various studies on cosmeceuticals. Therefore, this paper shows that the global status and growth potential of cosmeceuticals are documented and the concepts of the application of the demonstration complex and open innovation will be linked together based on research of antiaging cosmeceuticals in Korea for an aging society. This paper intends to provide the basic information for forming a ‘lab to market’ which connects the future cosmeceutical laboratory to the market.

Keywords: cosmeceuticals; anti-aging; open innovation; cosmetics; demonstration complex (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
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