It is estimated that by 2022, the cosmetics market in Thailand will exceed 8bn

Rich body beauty is the largest ASEAN cosmetics export market in South Korea, with an average growth rate of 32% in the past five years. It is a potential market actively developed by South Korea, such as amore Pacific and LG life health. Recently, Cheon Chunu, former director of Bangkok trade Museum, said that "Thailand is the base of Korean wave upsurge. We are looking forward to the market expansion of Korean wave beneficiary categories such as cosmetics." He pointed out that Thailand is the largest ASEAN cosmetics export market in South Korea, with an average growth rate of 32% in the past five years. It is a potential market actively developed by major cosmetics enterprises in South Korea such as amore Pacific and LG life health. As a mobile first country, the penetration rate of mobile phones reached 135.4% in 2017, and the Thai government promoted 5g commercialization from 2020, which are good news. According to Euromonitor's statistics, the cosmetics market in Thailand reached US $5.838 billion in 2017, an increase of 11% over the previous year, and it is estimated that by 2022, the market size will reach US $8.045 billion. In terms of geopolitics, Thailand is becoming the distribution center of logistics in India and China.

It is believed that Thailand is becoming a potential logistics market through the ASEAN's general plan for interconnection (MPAC), achieving ASEAN integration, building the ASEAN regional production network (RPN) and building China's "one belt along the way" and economic corridor construction, border trade and electricity supplier market. More than 20 Korean enterprises, such as CJ Korea express, modern merchant shipping and CIC, have entered the Thai market. In 2017, the number of foreign tourists in Thailand reached 35.38 million, accounting for 10% of the GDP. Therefore, Korean enterprises are expanding their scale of entering the catering industry for tourists, attracting plastic medical tourism and other mace (exhibitions, conferences) and other fields. In addition, after the Asian foreign exchange crisis in 1997, Thailand's economic growth slowed down. The "Thailand 4.0" policy and the Eastern Economic Corridor (EEC) development project promoted to get rid of the middle-income trap promoted the tourism and urbanization of high-speed rail, airport and port, and also improved the investment environment for foreigners. However, the concentration of manufacturing investment in Japan, known as "small Japan", coupled with the high household debt ratio, Alibaba and other multinational enterprises entering the market one after another, has become the obstacle for Korean enterprises to enter the market.