SEOUL, Jan. 13 (Korea Bizwire) – The South Korean food and drug safety watchdog said Friday that it will officially add the category of children’s cosmetics later this year in an effort to better monitor such products. Starting in September, manufacturers of products for children such as lotion, cream and oil are mandated to label [...]
SEOUL, Jan. 10 (Korea Bizwire) – South Korean cosmetics makers hit 52-week lows on the local stock market Tuesday amid increased concerns over a standoff between South Korea and China over a U.S. missile defense system. AmorePacific Co., the country’s No. 1 cosmetics maker, and other companies dependent on the Chinese market have been under [...]
SEJONG, Dec. 20 (Korea Bizwire) – The popularity of “K-beauty” has officially found its place in the U.K. cosmetics market. POSCO DAEWOO, POSCO’s trading subsidiary, announced Tuesday that starting next year, Korean cosmetics brands Caolion Cosmetics and SKINFOOD will be featured at some 220 outlets and the online store of Boots, the largest pharmacy chain [...]
SEOUL, Dec. 8 (Korea Bizwire) – Annual exports from South Korea’s health care businesses are forecast to reach US$10 billion in 2016, the Ministry of Health and Welfare said Thursday. Outbound shipments of locally manufactured medicines, medical equipment and cosmetics products are expected to total $9.8 billion by the end of this year, up 19.1 [...]
SEOUL, Nov. 28 (Korea Bizwire) – South Korea will slap fines on manufacturers and retailers of cosmetics developed through tests on animals under a new regulation set to take effect in February, joining the global wave of bans on animal testing, the government said Monday. The Ministry of Food and Drug Safety (MFDS) said it [...]
SEOUL, Nov. 25 (Korea Bizwire) – The 2016 International Beauty Expo Korea has kicked off at COEX, marking its 14th anniversary. This year’s expo has attracted 200 companies from six countries, highlighting their latest beauty and cosmetics products ranging from home care devices to cosmetics, hair products, and health food and beverages. Some 1,200 buyers [...]
SEOUL, Nov. 21 (Korea Bizwire) – South Korean shares of cosmetics and entertainment companies closed lower on Monday amid concerns over Chinese state-sanctioned retaliatory measures against Korea’s deployment of an American THAAD battery. Big-name K-pop producers, including SM (-8.16 percent), YG (-6.9), and JYP Entertainment (-2.79); film distributors and producers such as Showbox (-14.57) and [...]
SEOUL, Nov. 2 (Korea Bizwire) – South Korea’s online sales of goods abroad have more than doubled over the past year, official data showed Wednesday. The amount came to 550.2 billion won (US$480 million) in the third quarter of 2016, up 105.4 percent from a year earlier, according to the Statistics Korea. The sharp growth [...]
SEOUL, Oct. 26 (Korea Bizwire) – The market for genetic testing is growing steadily in Korea, with the government easing regulations in June, allowing commercial businesses to offer genetic testing services. Prior to the revision, consumers could only receive DNA tests at medical institutions. There are still limitations, however, as to the number of tests [...]
GOYANG, South Korea, Oct. 13 (Korea Bizwire) – K-Beauty Expo 2016 kicked off Thursday for a four-day run at KINTEX, gathering 450 companies, overseas buyers, and experts in various sectors of the beauty industry. The event marks its eighth anniversary, and this year’s trade show will feature a wide range of beauty products, from skin [...]