SEOUL, May 15 (Korea Bizwire) — Hyundai Department Store announced on May 13 that it will be releasing a new virtual makeup service on its official online store, thehyundai.com. The major department store chain partnered with Meitu, China’s top app developer, to accelerate its efforts to lead a retail tech trend in Korea by making [...]
SEOUL, Apr. 30 (Korea Bizwire) — Korean cosmetics producers are heading into the global market after success in China and Southeast Asia. Both manufacturers and distributors alike of Korean cosmetics are expanding their production facilities to more advanced markets such as the U.S. and Japan, while taking an aggressive stance via mergers or takeover of [...]
SEOUL, Apr. 24 (Korea Bizwire) — Cosmecca Korea Co., a local cosmetics maker, said Tuesday it has bought a U.S. original design manufacturer (ODM) in a 57.76 billion won (US$53.7 million) deal as it moves to expand its presence in the global market. The Korean company, listed on the country’s secondary bourse KOSDAQ, said it [...]
SEOUL, Mar. 14 (Korea Bizwire) — AmorePacific Group, a major cosmetics maker here, said it entered the Australian market Wednesday with one of its most popular brands, as the company accelerates its overseas push in the face of a sharp decline in the number of Chinese tourists. Products of AmorePacific’s mid-end Laneige are now available [...]
SEOUL, Jan. 25 (Korea Bizwire) — Nature Republic Co., a South Korean cosmetics firm, said Thursday that it has opened its first outlet in Indonesia, as it attempts to expand its presence in the Southeast Asian market. The store, at a shopping mall in Jakarta, posted about 100 million won (US$94,000) in sales on its [...]
SEOUL, Jan. 25 (Korea Bizwire) — South Korea’s beauty and fashion brands are leading a new round of hallyu, or the Korean Wave, in Japan, where the market for the products is growing, a local trade body said Thursday. Japan imported 2.68 billion yen (US$24.47 million) worth of cosmetics from South Korea in the January-September [...]
SEOUL, Dec. 28 (Korea Bizwire) — South Korea’s cosmetics industry is looking to regain growth in 2018 after taking a big hit from China’s retaliation against Seoul over a missile row this year, sources said Thursday. In March, China banned sales of group tours to South Korea in retaliation against Seoul’s decision to deploy an [...]
SEOUL, Dec. 7 (Korea Bizwire) – Health industry exports of pharmaceuticals, cosmetics, medical equipment will have grown by 14.3 percent compared to last year to reach $11.7 billion when 2017 draws to a close. The Ministry of Health and Welfare disclosed on December 7 that it had derived its estimates from canvassing experts’ opinions as [...]
SEOUL, May 4 (Korea Bizwire) – The United States ranked as the fourth-largest overseas market for South Korean cosmetic products in the first quarter of 2017 despite concerns of protectionism, a trade association said Thursday. In the January-March period, South Korean companies trailed French, Canadian and Chinese firms in terms of makeup products shipped to [...]
SEOUL, April 4 (Korea Bizwire) – Exports of South Korean beauty and cosmetics products to Europe have expanded by tenfold over the past seven years, largely driven by surging demand for locally made facial care and makeup items, a report showed Tuesday. The outbound shipments of Korean beauty products to Europe reached 92.5 million euros [...]