SEOUL, Sept. 10 (Korea Bizwire) — Korean brands cosmetics showed off their peak popularity at the beauty fair “Sephoria,” which was held by Sephora, the world’s largest cosmetics select shop. AmorePacific Corp. was the only Korean company to participate in this year’s two-day event held at the Shrine Auditorium and Expo Hall, Los Angeles on [...]
SEOUL, Jun. 17 (Korea Bizwire) — The Korea Trade-Investment Promotion Agency (KOTRA), jointly with other South Korean government agencies, held a K-beauty promotion event in Belgium on Friday. The event, titled ‘K-Beauty in Belgium’, took place to promote the South Korean cosmetics industry in the European market. Nature Republic Co. and 11 other South Korean [...]
SEOUL, Jun. 17 (Korea Bizwire) — Cosmetics shops in South Korea that have been leading the K-beauty industry over the last 15 years are facing a harsh financial reckoning due to excessive competition and plunging Chinese demand. Cosmetics shops, after reaching a market size of 2.8 trillion won (US$2.3 billion) in 2016, have been on [...]
SEOUL, Feb. 26 (Korea Bizwire) — Men wearing makeup, once a practice unique to TV stars and celebrities, is becoming a part of the popular culture we see in our everyday lives. As an increasing number of South Korean men are purchasing clothes, cosmetics, and other beauty products to take care of their looks, cosmetics [...]
SEOUL, Jan. 28 (Korea Bizwire) — Retail cosmetics shops that have been the drivers of the ‘K-Beauty’ industry for the past 15 years are facing a crisis, exposing their limitations. The cosmetics industry is undergoing a series of transformations due to decreased demand from China and a change in distribution structure resulting from stagnant domestic [...]
SEOUL, Jan. 17 (Korea Bizwire) — Choson Sinbo, a North Korean news media based in Japan, reported on Wednesday that cosmetic products manufactured in Sinuiju, North Korea are gaining popularity among North Koreans. “As soon as the store opens, people rush in looking for ‘Bomhyangki (Spring Fragrance)’, a series of cosmetic products very popular these [...]
SEOUL, Dec. 3 (Korea Bizwire) — Tourists visiting Seoul are buying more fashion products than last year, according to a recent survey. The Seoul Metropolitan Government and the Seoul Tourism Organization announced on Sunday that compared to last year, tourists in Seoul purchased fewer cosmetics and more fashion products. Querying 1,500 tourists who visited South [...]
SEOUL, Nov. 23 (Korea Bizwire) — Managers of brick and mortar cosmetics shops are taking to the streets amid cutthroat competition with online stores. Some twenty managers staged a rally in front of the LG office building in Gwanghwamun on Thursday, complaining that online price competition is making their business intolerably difficult. “We want to [...]
SEOUL, Oct. 22 (Korea Bizwire) — Beauty products are becoming a very important export driver, with shipments growing by leaps and bounds, a report by a local trade promotion agency said Monday. According to the Korea Trade-Investment Promotion Agency (KOTRA), South Korea exported US$4.96 billion worth of cosmetics last year, four times more than in [...]
SEOUL, May 25 (Korea Bizwire) — South Korea’s cosmetics and tourism industries have yet to benefit much from China’s lifting of a ban on group tours to Seoul despite a recent gain in the number of Chinese visitors, sources said Friday. In March last year, China took a set of retaliatory measures against Seoul, including [...]