South Korean Beauty Milestone: Cosmetics Exports Exceed $10 Billion

South Korean cosmetics exports exceeded $10 billion for the first time in history, reaching $10.2 billion in 2024, up 20.6% year-on-year.

The Ministry of Trade, Industry and Energy announced export data on January 5, attributing the growth to the recovery of product innovation after the epidemic and the growing global demand for high-quality Korean cosmetics with functional ingredients. The United States became the largest importer of Korean beauty products, surpassing France, with imports reaching $1.405 billion and accounting for 22.2% of the US market share. In Japan, Korean cosmetics maintained their import leadership for the third consecutive year with a market share of 28.8%.

The success of the Korean beauty industry in the United States stems from its functional products such as anti-aging skin care, while in Japan, bright makeup inspired by Korean trends attracted young consumers. This cross-market adaptability highlights the strategic approach of the Korean beauty industry to meet different consumer preferences.

The Korean beauty industry continues to thrive due to its innovation, quality and fit with the trend culture industry.