Tariffs Bite: Korean Food, K-Beauty and Fashion Feel the Heat as Buldak Ramen Price Rises
Creatrip Team
4 months ago
U.S. tariffs are beginning to hit Korean exporters hard in Q3–Q4, undermining growth in food, K-beauty and fashion sectors that had relied on American demand. Analysts estimate K-beauty has lost about 8% of operating profit to tariffs. OEM/ODM suppliers are especially squeezed as brand owners push cost cuts while passing on higher input costs, leading to production slowdowns and order delays. Food exporters faced higher tariff rates and rising logistics costs; Samyang raised the U.S. retail price of Buldak Bokkeum-myeon (spicy chicken ramen) by about 9% to offset a 15% reciprocal tariff, with Walmart’s price moving from $6.88 to $7.84. Companies are diversifying exports to Europe and the Middle East and boosting local production in the U.S. and Hungary to mitigate risk, but firms warn tariff pressure may worsen into year-end if measures are not eased.
