South Korean cosmetics exports reach new peak of $10B

By Dat Nguyen January 7, 2025 | 11:53 pm PT

South Korean beauty product exports reached US$10.2 billion for the first time last year, marking a 21% rise from 2023.

This represents a significant leap from the US$1 billion milestone first achieved in 2012, reflecting consistent growth despite setbacks in 2022 and 2023, according to data from the Ministry of Food and Drug Safety as cited by The Korean Herald.

A person applies foundation shade during a demonstration at Amore Seongsu in Seoul, South Korea, June 7, 2024. Photo by Reuters

The previous high of US$9.2 billion was recorded in 2021.

Skincare products led exports with a US$7.67 billion revenue, followed by make-up products at US$1.35 billion and cleansing products at US$470 million.

China remained the largest importer, accounting for a quarter of exports (US$2.5 billion).

It was followed by the U.S. and Japan.

Other notable importers included Hong Kong, Vietnam, Russia, and Taiwan, while the United Arab Emirates, which replaced Malaysia in the top 10.

Exports to the U.S. experienced notable growth, rising by US$690 million for a 57% year-on-year increase.