South Korean cosmetic exports more than triple in 2015

South Korean cosmetic exports more than triple in 2015

The demand for South Korean cosmetics from China and other Asian countries has driven export sales up by more than triple in 2015, with sales of exported make up reaching US$2.45 billion in 2015 up 53.1 percent from the previous year.

Indeed, according to data by the Korean Customs Service (KCS) the sector saw an annual growth rate of 36.9 per cent over the 2011 to 2015 period while the first three months of 2016 seeing growth of 21.9 percent year on year to $710 million.

China was the biggest importer of South Korean beauty products, making up 40.6 percent of the country’s cosmetic’s exports, importing $999.5million last year.

According to the KCS, “Korean-made cosmetics appeal to overseas consumers on the back of the rising popularity of South Korean movies, pop and TV series.”

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