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South Korean cosmetics exports on a tear

Data released by the South Korean Customs Service on Wednesday revealed that in the first quarter of this year, South Korea's cosmetics exports increased by 21.7% YoY, reaching $2.3 billion, marking a historical high for the same period. Overseas sales of South Korean cosmetics reached an annual peak of $9.22 billion in 2021, but dropped to $7.98 billion in 2022, rebounding to $8.49 billion last year. China emerged as the top destination for South Korean cosmetics exports in the first quarter of this year, with exports reaching $610 million, accounting for approximately 26.5 percent of the total. The US followed closely with exports worth $380 million, Japan with $240 million, and Vietnam with $150 million.

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