Korean beauty exports shipped between January and May this year amounted to $4.4 billion, an increase of 20.8 percent from the same period last year, according to Statistics Korea on Thursday.
The Korean chemical firm signed an agreement with Summit Cosmetics of Japan on the sale of 2,3-Butanediol to the Japanese company.
Son&Park's "Color Balm," selling for 60,000 won cheaper than Chanel's equivalent, has become the new hot cosmetic online.
Sephora is exiting the Korean market after struggling to understand the preferences of the country's consumers. It has faced an uphill battle against domestic beauty chain CJ Olive Young.
Customers try cosmetics products at a mall in downtown Seoul on Sunday.
Korean cosmetics spending remains weak due to inflation and the popularity of 'natural' makeup looks, benefitting smaller, budget-friendly sellers like Daiso, Tony Moly and Missha.
Located in Myeongdong in central Seoul, Beauty Play draws beauty product lovers from worldwide. It provides visitors with a wide array of experiences related to the Korean beauty industry, all free of charge.
The renovated Olive Young 'Myeong-dong Town' branch draws tourists with its trendy K-beauty products, expanding its customer base to a global audience.
Cosmetics prices are on the rise as major companies like LG Household & Health Care try to boost profits. Other goods, including food and beverages, are also becoming more expensive.
Amorepacific is entering the Mexican cosmetics market with its mid-range skincare-focused brand Laneige.
Korea JoongAng Daily Sitemap