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K-beauty exports quadruple in four years to almost US$ 5 bil. in 2017 with more demand from Asian markets

Arirang News
Arirang News
9개월 전|조회수 2회
Exports of South Korean cosmetics, or K-beauty,increased last year on the back of constant popularity abroad, with China being the main market for the beauty products.
Yoon Jung-min has details.
South Korean cosmetics exports have been seeing steady growth over the past few years.

According to local trading promotion agency KOTRA on Monday, K-beauty exports quadrupled in four years to reach 4-point-96 billion U.S. dollars in 2017.

Cosmetics exports look strong this year too.
Total exports for the January to September period reached 4-point-6 billion dollars, up 31-point-4 percent on-year.

Greater China was the main market for Korean cosmetics with some 3-point-26 billion dollars of Korean beauty products exported to the region last year, up 12-point-5 percent from the previous year.
Southeast Asia was the second largest importer, with some 530 million dollars of K-beauty imports, followed by North America and Europe.
Shipments to all four regions saw double-digit increases.

KOTRA says the number of cosmetics manufacturers jumped from less than 2-and-a-half-thousand in 2012 to more than 11-thousand last year on the back of increasing popularity of K-beauty.

The agency added it expects the cosmetics industry to add new momentum to the domestic economy, creating more new jobs and opportunities.
Yoon Jung-min, Arirang News.


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