Last Year, South Korea's Cosmetics Exports Surpassed $10 Billion... "Record High"

MFDS Reports Export Scale: China, USA, Japan Leading
Popular Items Include Basic and Color Cosmetics, Personal Cleansing Products

Last year, South Korea's cosmetics export volume surpassed $10 billion, approximately 14.7 trillion won, setting a record high.

According to the Ministry of Food and Drug Safety on the 6th, South Korea's cosmetics export volume in 2024 reached $10.2 billion, a 20.6% increase compared to the previous year. This surpassed the previous record of $9.2 billion in 2021 by 10.9%, marking the highest performance ever.

Domestic cosmetics exports have shown continuous growth since first surpassing $1 billion in 2012, reaching $10 billion in just 12 years.

By country, China accounted for the largest export amount at $2.5 billion, followed by the United States with $1.9 billion, and Japan with $1 billion. The top 10 countries accounted for 77% of total exports. Although China remains South Korea's number one cosmetics export destination, its export volume decreased, causing its share of total cosmetics exports to fall into the 20% range for the first time. Meanwhile, exports to the United Arab Emirates (UAE) have steadily increased, entering the top 10 export destinations for the first time.

By product type, exports were approximately $7.7 billion for basic cosmetics, $1.4 billion for color cosmetics, and $500 million for personal cleansing products. Basic cosmetics continue to show strong export performance, with the largest export growth seen in personal cleansing products.

To celebrate reaching $10 billion in cosmetics exports, various events will be held in the related industry. Olive Young Global Mall will hold a discount event in January for 100 Korean cosmetics products that were popular overseas last year. The Korea Cosmetic Association will also conduct consumer participation events and related commemorative ceremonies. In February, the government, industry, and the Korea Cosmetic Association plan to hold a ceremony to honor major companies and contributors who have helped boost cosmetics exports.

Oh Yu-kyung, head of the Ministry of Food and Drug Safety, said, "The Ministry will strengthen international cooperation through regulatory diplomacy to help our industry maintain the growth trend in cosmetics exports. We will support our companies to enhance international-level quality competitiveness in response to safety evaluations in countries such as China and the United States."

This content was produced with the assistance of AI translation services.