Korean Cosmetics Export Surpasses France in US Market
Creatrip Team
a year ago
In 2022, South Korea's export of cosmetics to the US reached $1.71 billion, surpassing France and solidifying its status in the market. This surge is attributed to strategic online promotions via platforms like TikTok and partnerships with Costco and Amazon. The global export of Korean cosmetics grew by 20.6%, marking the first time it surpassed $10 billion. Korean companies like Kolmar and CJ Olive Young are expanding US operations, with planned store openings and increased manufacturing capabilities. International firms, including L'Oreal, are showing interest in acquiring Korean beauty brands.
