South Korean Cosmetics Exports Hit New Heights

In an unprecedented achievement, South Korean cosmetics exports have soared to a record-breaking $10 billion, marking a significant milestone from the $1 billion mark first achieved in 2012. Despite facing setbacks in 2022 and 2023, the industry has shown remarkable resilience and consistent growth, as reported by The Korean Herald citing data from the Ministry of Food and Drug Safety.

Skincare Leads the Charge

Skincare products have dominated the export scene, generating a whopping $7.67 billion in revenue. Make-up and cleansing products followed, contributing $1.35 billion and $470 million, respectively.

China: The Largest Importer

China has emerged as the largest importer of South Korean cosmetics, accounting for a quarter of the total exports with $2.5 billion. The United States and Japan trail behind, with the U.S. witnessing a notable 57% year-on-year increase, adding $690 million to the export figures.

Global Reach

Other significant importers include Hong Kong, Vietnam, Russia, Taiwan, and the United Arab Emirates, which has recently entered the top 10 list, replacing Malaysia.