Korea's cosmetic exports reached a record $10.2 billion in 2024.
The new Olive Young N store in the trendy Seongsu neighborhood has it all, from experiences to expertise and even exclusive lounges.
Market Kurly held its first offline cosmetics trade show since launching its beauty business, hosting over 90 brands from Oct. 10 to 13.
Olive Young has been accused of threatening to pull products of suppliers that join Musinsa's beauty festival.
Cosmax, Korea's major cosmetics contract manufacturer, on Monday reported its second quarter net profit of 35.3 billion won ($25.8 million), up 28.9 percent from a year earlier.
Exports by Korea's small- and medium-sized enterprises rose to $57.1 billion in the January-June period, 4.4 percent more than last year.
Exports of Korean cosmetics in the first half of 2024 surpassed $4.8 billion, reaching a record high for beauty product exports shipped within the first six months of a year. This amount was a 18.1 percent increase from the same period last year.
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.
Korea JoongAng Daily Sitemap
