SEOUL, Oct. 30 (Korea Bizwire) – The pharmaceutical and biotechnology industry is making significant strides in enhancing its presence in the beauty sector, particularly in the realm of cosmetics. Industry experts suggest that this strategic shift is aimed at attracting consumers and driving sales by emphasizing pharmaceutical companies’ focus on health. In recent developments, the Yuhan [...]
SEOUL, Oct. 27 (Korea Bizwire) – As the COVID-19 pandemic has prolonged the prevalence of non-face-to-face shopping, apparel and cosmetics companies are intensifying their online marketing strategies, specifically targeting Generation MZ (those born between the early 1980s and early 2000s). This younger demographic is increasingly recognizing the advantages of online shopping, which has led to a [...]
SEOUL, Oct. 18 (Korea Bizwire) – South Korea’s major chemical companies are collaborating with cosmetics companies to accelerate the development and supply of eco-friendly cosmetics packaging. This transition is crucial for the cosmetics industry due to its short product replacement cycle, extensive use of plastics, and considerable waste production. LG Chem announced on Tuesday that it [...]
SEOUL, Aug. 29 (Korea Bizwire) — South Korea’s drug safety ministry said Monday it has asked the Korea Cosmetics Association and the Korea Communications Commission to prevent access to and remove 155 online cosmetics advertisements that make claims about their effectiveness, like aiding with ‘diet’ or ‘body shape maintenance’. The ministry also requested that administrative bodies overseeing [...]
SEOUL, May 15 (Korea Bizwire) — South Korean cosmetics industry is increasing its focus on products for men due to the growing number of men wearing makeup. B.READY, a men’s cosmetics brand under Amorepacific Corp., has consistently achieved double-digit growth since its establishment in 2019. Last month, the brand’s sales were 173 percent higher than [...]
SEOUL, Feb. 2 (Korea Bizwire) — The number of consumers looking for cosmetics and perfumes is increasing rapidly as the government eased indoor mask-wearing restrictions. Fashion shopping platform ZigZag reported a 67 percent jump in lipstick sales between Jan. 20-30 compared to December 2022. Sales of lip balms and lip tints jumped by 23 percent [...]
SEOUL, Jan. 26 (Korea Bizwire) — Department store chains and cosmetics firms are holding various makeup shows to attract customers as the indoor mask mandate soon to be lifted. Lotte Department Store announced that it will open up a pop-up store for Yves-Saint Laurent Beauty at its main branch in central Seoul until Sunday. On [...]
SEOUL, July 7 (Korea Bizwire) — South Korea’s cosmetic exports posted a record-high amount, surpassing the 10 trillion-won mark for the first time in history, data showed Thursday. According to the Ministry of Food and Drug Safety, South Korea’s cosmetic exports grew 21.3 percent from the previous year and reached 10.5 trillion won (US$8.1 billion). [...]
SEOUL, June 16 (Korea Bizwire) — As China’s domestic market is facing fierce internal competition, South Korea’s cosmetics industry has found a new breakthrough in the global market, eyeing the North American region to expand its international presence. Top cosmetics maker Amorepacific Corp.’s North America sales in the first quarter of this year jumped by [...]
SEOUL, May 18 (Korea Bizwire) — Russia’s invasion of Ukraine and Indonesia’s ban on palm oil exports are leading to spiking prices of raw materials and raising the prices of essential goods like cosmetics and soap. South Korea’s top cosmetics maker AmorePacific Corp. reported that the import price of glycerin used to make cosmetic products [...]