SEOUL, Oct. 13 (Korea Bizwire) – China was the biggest buyer of South Korean beauty products, taking up almost half of the country’s cosmetics sold overseas last year, data showed Thursday. According to the data submitted by the Korea Health Industry Development Institute to the National Assembly, China accounted for 41.1 percent of South Korea’s [...]
SEOUL, Oct. 10 (Korea Bizwire) – South Korean cosmetics have seen a dramatic surge in demand in overseas markets as their innovative makeup and skincare products are attracting a global audience, the Korea Trade-Investment Promotion Agency (KOTRA) said Monday. According to KOTRA’s survey on overseas buyers in 55 nations, cosmetics were the most popular item [...]
SEOUL, Sept. 23 (Korea Bizwire) – South Korea’s small-scale cosmetics firms are targeting niche markets by launching made-to-order manufacturing for other firms, a way of expanding their businesses without the cost of having to develop their own brands and marketing them, industry officials said Friday. K-beauty has caught on globally, allowing these companies to gain [...]
SEOUL, Sept. 7 (Korea Bizwire) – Cosmetics companies are launching customized services, a new business area the government adopted in March, finding colors and ingredients based on individual needs. Amore Pacific, the leading cosmetics maker that was the first to jump into the business, said Wednesday its made-to-order lipstick service at its Myeongdong store in [...]
SEOUL, Aug. 29 (Korea Bizwire) – Outbound shipments of food, beauty, fashion and personal care products soared in the first half of the year on the back of the growing popularity of the Korean wave, or hallyu, industry data showed on Monday. According to the data compiled by the Korea International Trade Association (KITA), exports [...]
SEOUL, Aug. 10 (Korea Bizwire) – Sometimes we want to stay blind to what’s in the food, drinks, and other products like cosmetics that we consume or use on a daily basis. And perhaps to shatter some of this illusion, Korea’s Rural Development Administration (RDA) has just succeeded in commercializing cosmetics using an antibiotic substance [...]
SEJONG, Aug. 3 (Korea Bizwire) – South Koreans’ direct purchases from foreign countries edged up in the second quarter of this year, with online purchases of Korean products by overseas shoppers nearly doubling, government data showed Wednesday. Koreans’ direct purchases of foreign goods via overseas online shopping malls reached 411.8 billion won (US$369.3 million) during [...]
SEOUL, July 25 (Korea Bizwire) – CLIO, a Korean cosmetics maker, revealed Monday that it had successfully secured a $50 million investment from L Capital Asia, a private equity fund formed in 2009 by LVMH (Moet Hennessy Louis Vuitton). This marks the fund’s second venture with a Korean enterprise following its investment in YG Entertainment [...]
SEOUL, May 24 (Korea Bizwire) – South Korean cosmetics manufacturers have grown quickly in China on the back of their advanced production technology and K-beauty boom in the fast-rising market, industry officials said Tuesday. Chinese cosmetics brands have expanded their partnerships with Korean original design manufacturers (ODMs), which design and manufacture a product as specified and [...]
SEOUL, Feb. 16 (Korea Bizwire) – Diem Xuan Nguyen was instantly hooked on cushion foundations when a Korean friend of her mother gave one to her last year. “I love how light it felt, especially in the summer,” said the 27-year-old Vietnamese-American living in Seoul. “Foundations can be like a layer of ganache, but a [...]