Group 1 - The APEC informal leaders' meeting will be held in Gyeongju, South Korea, from October 31 to November 1, 2025, highlighting the significance of APEC as a major economic cooperation mechanism in the Asia-Pacific region [1] - In the first three quarters of this year, Jiangsu's import and export volume to other APEC economies reached 2.73 trillion yuan, representing a year-on-year growth of 4.6% [1] - Midea's vacuum cleaner exports to Peru increased by 70.7% year-on-year in the first nine months of this year, benefiting from the China-Peru Free Trade Agreement which reduced import tariffs from 9% to 0% [1] Group 2 - Zhenjiang's exports of engineering machinery to other APEC economies reached 320 million yuan in the first three quarters, showing a year-on-year increase of 67.3% [1] - Komar Cosmetics (Wuxi) Co., Ltd. exported 100,000 essence products to Japan, with export value increasing nearly 3.7 times year-on-year in the first nine months [2] - The company leverages its global brand influence and local manufacturing advantages to enhance its market presence in the Asia-Pacific region [2]

Core Insights - The article discusses the rising trend of "beauty tourism" in South Korea, highlighting its influence on global beauty standards and the influx of medical tourists seeking cosmetic procedures [1][2] Group 1: Industry Overview - South Korea has become a global leader in the beauty and cosmetic industry, with Seoul housing the highest number of plastic surgeons worldwide [1] - In 2024, over 1 million medical tourists are expected to visit clinics in the Gangnam district of Seoul, nearly doubling from 2023, with 68% seeking dermatological and plastic surgery services [1] - The UK government has recognized South Korea as a "medical tourism" destination, encouraging citizens to include non-essential surgeries in their insurance coverage [1] Group 2: Consumer Experience - Many clinics in South Korea offer English services, but language barriers can lead to miscommunication, such as incorrect hormone injections due to translation issues [2] - The beauty industry in South Korea is characterized by a paternalistic approach, where doctors often make decisions on behalf of patients, potentially leading to excessive treatments [2] - The British Association of Aesthetic Plastic Surgeons reported a 35% increase in complications among patients undergoing cosmetic procedures abroad in 2022, raising concerns about the prevalence of low-cost, high-volume clinics in Seoul [2]

Core Viewpoint - Chinese cosmetic brands are aggressively expanding into Southeast Asia, particularly targeting young consumers with localized products and competitive pricing, as the perception of "cheap Chinese products" is changing [1][3]. Group 1: Market Performance - Skintific has gained significant traction in Southeast Asia, with over 5% market share in Indonesia's beauty category on Shopee by 2024, outperforming popular Korean brands [2]. - The main product, a cushion foundation, is priced around 150,000 Indonesian Rupiah (approximately 66.43 RMB), often available at half price on e-commerce platforms, making it attractive compared to higher-priced foreign brands [2]. - The Southeast Asian cosmetics market is projected to grow, with estimates indicating a market size exceeding 1 trillion yen by 2024, a 1.3 times increase from 2020 [3]. Group 2: Product Localization - Skintific and JudyDoll focus on developing products that address local skin issues, such as high humidity and strong sunlight, which has garnered widespread support from consumers [2][3]. - JudyDoll has established a product development department for overseas markets, aiming to create products suitable for Southeast Asian skin tones and plans to introduce more region-specific items by 2025 [3]. Group 3: Changing Perceptions - The negative perception of Chinese products is diminishing, with local consumers increasingly recognizing the quality of Chinese cosmetics, influenced by cultural content such as Chinese dramas [3]. - There are concerns regarding the transparency of Chinese brands in terms of safety and ingredient disclosure compared to Western and Japanese brands, which may affect consumer trust [4].