In Trends

How are South Korea’s cosmetics doing?

cosmetics

South Korea’s cosmetics exports to Japan jumped more than 34 percent on-year in 2018 on their rising popularity among young Japanese women, government data showed.

SEE ALSO : How are Korea’s beauty brands doing in the industry?

Shipments of cosmetics to the neighboring country came to US$300 million last year, up 34.2 percent from US$230 million the previous year, according to the data from the Korea Customs Service and the Ministry of Health and Welfare.

The growth rate was the second highest recorded among the top five destinations for South Korean cosmetics.

South Korean exports to China rose at the highest on-year rate of 37.5 percent last year,trailed by the United States with 20.8 percent, Vietnam with 19.8 percent and Hong Kong with 7.7 percent.

Japan accounted for 4.8 percent of all South Korean cosmetics exports last year, up from 4.6 percent from the previous year. The ratio rose to 6.1 percent in the first five months of the year.

A recent industry report said South Korean cosmetics brands have been extremely popular among Japanese teens and women in their 20s.

The jump in cosmetics exports to Japan strikes a sharp contrast to Japanese brands’ high popularity in the global market.

According to recent data from the International Trade Center, Japan overtook South Korea as the top cosmetics exporter to China in the first quarter of this year.

SEE ALSO : South Koreans boycotting Japanese cosmetics

Japan shipped US$770 million worth of cosmetics to the world’s most populous country in the January-March period, trailed by France with US$730 million. South Korea, which was the leading exporter last year, ranked third with US$720 million.

(Source: Yonhap News)

Follow Retail in Asia on Facebook, Twitter and LinkedIn.

Get our top stories delivered to your inbox:

 

Stay ahead
Subscribe for free!
Register now
Stay ahead