(From Korea Times)
Exports of Korean cosmetics are increasing steeply on the popularity of the country’s pop culture abroad.
According to the Korea Customs Service, the country’s exports of cosmetics totaled $2.5 billion last year, up 53.1% from the previous year.
Exports have been growing sharply, marking a 350% increase from 2011 when they stood at $698 million.
This year is no exception, with shipments in the first quarter recorded $710 million, up 21.9% from a year ago.
“On top of the continuing popularity of Korea’s cultural products such as films, music and TV dramas, the strong competitive edge of the cosmetics brands themselves seems to be driving the exports,” the customs office noted in a media release.
China was the biggest importer of Korean cosmetics at $1 billion last year, or 40.6% of the total. Hong Kong followed, taking 24.8%, while the United States took 8.5 % and Japan 4.6%. Read More