LAS VEGAS, Jan. 13 (Korea Bizwire) — South Korea’s K-beauty industry showcased cutting-edge innovations at CES 2025, held January 7-10, reinforcing its commitment to integrating advanced technologies like artificial intelligence (AI) into the beauty sector. Industry experts predict that this trend will drive even greater participation from beauty companies at future tech exhibitions. Amorepacific Group [...]
SEOUL, Jan. 13 (Korea Bizwire) — In a significant shift from K-Beauty’s initial value-focused approach, Korean fashion companies are pursuing international expansion with an emphasis on premium positioning and distinctive design, industry sources reported on January 12. Major Korean fashion houses are increasingly looking overseas amid domestic market challenges, including economic slowdown and unusual weather patterns [...]
SEOUL, Jan. 9 (Korea Bizwire) — In response to recent revelations that several clothing brands misrepresented the down filling ratios in their winter jackets, fashion platforms and apparel companies in Korea are strengthening their quality control measures. Industry experts are calling for stricter policies, including a “one-strike-out” system that would immediately suspend or remove vendors caught [...]
SEOUL, Jan. 6 (Korea Bizwire) — South Korea’s K-Beauty industry has outpaced French luxury giants like Chanel and Lancôme to become the top imported cosmetics category in the United States and Japan, solidifying its position as a global cosmetics powerhouse. According to South Korea’s Ministry of Trade, Industry, and Energy, the country’s cosmetics exports exceeded [...]
SEOUL, Dec. 5 (Korea Bizwire) – CJ OnStyle, a major South Korean online retailer, has identified “newmiliar” as the defining consumer trend of 2024, describing a preference for products that combine familiarity with innovative twists. The term “newmiliar,” a portmanteau of “new” and “familiar,” emerged from the company’s analysis of sales data across its most popular [...]
SEOUL, Dec. 3 (Korea Bizwire) – In a shift away from luxury brand obsession, South Korea’s younger generation is increasingly adopting a “YONO” (You Only Need One) approach to fashion consumption, prioritizing practicality and versatility over conspicuous consumption. The trend, particularly popular among millennials and Gen Z consumers born between the early 1980s and early 2000s, [...]
SEOUL, Dec. 3 (Korea Bizwire) – South Korea’s duty-free sector is grappling with declining performance as foreign tourists increasingly favor road shops and specialty stores, such as health and beauty retailer Olive Young, over traditional duty-free outlets. This trend was highlighted at the “2025 Retail Industry Outlook Seminar” held by the Korea Chamber of Commerce [...]
SEOUL, Dec. 2 (Korea Bizwire) — South Korea’s exports of cosmetic products reached an all-time high of US$9.3 billion through November this year in an estimate, the country’s drug safety agency said Monday. The combined exports of cosmetic products for the January-November period exceeded the previous yearly high of $9.2 billion recorded in 2021, according [...]
SEOUL, Dec. 2 (Korea Bizwire) – Despite persistent inflation, South Korea’s fragrance market is booming, with niche luxury perfumes gaining prominence. International brands like Jo Malone, Diptyque, and Byredo are leading the charge, capturing significant consumer interest and driving growth in the high-end cosmetics sector. According to industry data, niche perfume sales through Shinsegae International’s [...]
HANOI, Nov. 28 (Korea Bizwire) – At the E-commerce Connection and Development Forum (ECCDF2024) held at the Hanoi Museum on November 26, Korean companies showcased their strategies to capture the Vietnamese market through products that offer both value for money and emotional satisfaction. Lim Young-ho, director of Skineralism, a cosmetics and food manufacturing company, revealed plans [...]