Seoul: South Korea's exports of cosmetics have reached an unprecedented high in the first nine months of the year, fueled by successful ventures into new markets. Outbound shipments of cosmetics totaled US$8.52 billion from January to September, reflecting a 15.4 percent increase compared to the previous year, as reported by the Korea Customs Service.
According to Yonhap News Agency, the third quarter alone saw cosmetics exports amount to $3 billion, marking a 17.6 percent rise from the same period last year. This represents the ninth straight quarter of growth and the highest third-quarter figure recorded to date, emphasizing the robust expansion of the industry.
The United States emerged as the leading market, comprising 19.7 percent of total exports, followed by China and Japan with 18.5 percent and 9.7 percent, respectively. Despite a decline in shipments to China, previously the top destination for South Korean cosmetics, the ongoing diversification efforts have supported continued growth in overseas sales.
Korean cosmetics have now reached 205 countries, the widest global reach ever achieved by the industry. Skin care products, including moisturizers, dominated the export categories, making up 41.7 percent of all sales. Other products like sunscreen and anti-aging solutions accounted for 25.5 percent, while color cosmetics such as lipsticks and eye shadows represented 1.4 percent.