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 [...]
SEOUL, March 2 (Korea Bizwire) — Expectations for the normalization of economic activities are growing despite the spread of the omicron variant of the coronavirus and such expectations have lead to an increase in consumption of spring clothes and color cosmetics. According to Hyundai Department Store, a major department store chain, sales of women’s and [...]
ROME, Feb. 4 (Korea Bizwire) — SkinLabo, the first digitally native Italian cosmetics brand, already present in more than 20 countries worldwide, is ready to launch its own brand on the American beauty market. Since its constitution in 2016, SkinLabo has attracted €23 million in investments, thanks to 8a+ Real Innovation fund; Vertis SGR with its [...]
SEOUL, Feb. 3 (Korea Bizwire) — A growing number of men are buying leggings and cosmetics for their own use. Shinhan Card Co., a major credit card company in South Korea, analyzed purchases of leggings using the company’s credit cards between January and September of last year, which showed that purchases among men had jumped [...]
SEOUL, Nov. 24 (Korea Bizwire) — A variety of businesses from various sectors are making forays into the cosmetics market with entry barriers dropping, amid expectations that they could create a synergy effect through combination with their existing businesses. According to the Ministry of Food and Drug Safety, the number of cosmetics sellers that acquired [...]
SEOUL, July 2 (Korea Bizwire) — Starting Thursday, South Koreans will be able to bring bottles to cosmetics shops to refill them with shampoo, conditioner, body wash, and liquid soap. The Ministry of Food and Drug Safety, jointly with the Ministry of Environment, announced plans to promote cosmetics refill stores as part of efforts to [...]
SEOUL, April 25 (Korea Bizwire) — South Korea’s exports of cosmetics shot up 15 percent in 2020 from a year earlier, data showed Sunday, on the back of growing demand from the United States and Asian countries. Outbound shipments of cosmetics reached US$6.12 billion last year, according to the data compiled by the Korea Customs [...]
SEOUL, April 8 (Korea Bizwire) – South Korean cosmetics giant AmorePacific Corp. said Wednesday that it would launch a Base Picker service to provide customized foundation and cushion products to personal customers. Customers will be able to purchase customized foundation or cushion products after opting for a glow or semi-matte finish and selecting from 100 [...]