SEOUL, June 17 (Korea Bizwire) — South Korea’s cosmetics-related trade surplus surpassed the 6 trillion-won mark (US$4.9 billion) for the first time in 2019, data showed Wednesday. The trade surplus of locally made beauty products came to 6.15 trillion won last year, up 12.4 percent from 5.47 trillion won tallied the previous year, according to [...]
SEOUL, May 28 (Korea Bizwire) — South Korea’s exports of cosmetics grew at the slowest pace in eight years in 2019 amid a litany of unfavorable external factors, industry data showed Thursday. Overseas shipments of cosmetics stood at US$6.49 billion last year, up 3.6 percent from a year earlier, according to the data from the [...]
SEOUL, April 22 (Korea Bizwire) — South Korea’s exports of beauty products to Russia jumped nearly ninefold in 2019 from five years earlier on the back of the growing popularity of Korean pop culture, data showed Wednesday. South Korea’s exports of beauty products to Russia reached US$137.3 million in 2019, up from $15.5 million posted [...]
SEOUL, April 16 (Korea Bizwire) — South Korea’s exports of high-end consumer goods to Southeast Asia has increased sharply since 2010, data showed Thursday, led mostly by their strong demands for cosmetic goods. The country’s exports of high-end consumer goods, which include beauty and fashion items, along with luxury goods, to Singapore have been expanding [...]
SEOUL, March 6 (Korea Bizwire) — The outbreak of the novel coronavirus is changing the landscape of vanity tables across South Korea. While demand for makeup products generally increases during this time of the year, many so-called “trouble care” cosmetics are being sold this year as wearing a mask has become routine with the COVID-19 [...]
SEOUL, Feb. 27 (Korea Bizwire) – In the wake of the spread of the novel coronavirus outbreak, a growing number of people are buying clothes online. On the other hand, the cosmetics industry, which has suspended face-to-face services such as makeup demonstrations, is suffering from a sharp drop in sales. An online mall Handsome.com run [...]
SEOUL, Dec. 17 (Korea Bizwire) — China was the biggest buyer of South Korean beauty products last year, accounting for more than 60 percent, a report showed Tuesday. The report compiled by the Korea International Trade Association (KITA) showed that 65.6 percent of outbound shipments of locally made cosmetics products headed to China, Hong Kong [...]
SEOUL, Dec. 12 (Korea Bizwire) — Japan is threatening to overtake South Korea’s No. 1 status in China’s imported cosmetics market this year, industry data showed Thursday, mainly on the back of the growing popularity of low- to mid-priced “J-beauty” products. Japanese companies accounted for 25.2 percent of China’s imported cosmetics in the January-October period, [...]
SEOUL, Dec. 6 (Korea Bizwire) — As more Chinese consumers are taking an interest in the components contained in cosmetic products, South Korean cosmetic brands are infiltrating the Chinese market using their reputation for using ‘good recipes’. Venndata, a Chinese market research agency, reported that 45 percent of Chinese consumers were found to purchase cosmetics [...]
SEOUL, Dec. 5 (Korea Bizwire) — South Korea aims to become the third-largest cosmetics exporter in the world by 2022 through extensive investment in research and development (R&D) and concerted marketing efforts, the government said Thursday. The country’s makeup products are globally competitive, with growth buoyed by popularity of the Korean Wave and the growing [...]