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Here's Why Korean Cosmetics Are A Global Hit With Over US$1.44 Billion Exports

By January 29, 2016 at 4:05 am
Seoul International Cosmetics And Beauty Expo 2005 (Photo : Chung Sung-Jun/Getty Images)

The boom of Korean cosmetics reached a worldwide scale with approximately US$1.44 exports.

According to the data released by the Korea Customs Service, Korean cosmetics reached a higher export volume as compared to 2012 and 2014 data, which is at about US$700 million and US$707 million, respectively.

Bloomberg reported about the Asian cosmetics' magic ingredients that would make customers want to fall in line for vanity's sake.

A Korean cosmetic brand in the United States, K-Beauty, is one of the exports of such products. It is said to be sold by most young Korean and Americans who are willing to try different ingredients for a healthy glow.

"South Korea's beauty industry has seen phenomenal growth," said analyst Sarah Jindal of Mintel research firm.

One good example is the snail extract, which promises to stimulate elastin and collagen. It is now being infused in many products like moisturizers and even used in facial treatments.

In New York, Sarah Lee, 35, and Christine Chang, 34, are young entrepreneurs promoting Korean products like the "ultra-hydrating" mushroom that is effective in skincare. Both were former employees of L'Oreal in South Korea. One of their popular products is the hydrating serum priced at $14.

As for why and when did the Korean cosmetics became a trend, the paper noted that the BB Cream storm may have contributed to the craze. Back in 2011, the United States was presented with the then unknown BB Cream, and achieved a $164 million sales.

JK News USA previously published an article about the success of Korean cosmetics with a significant increase of 290 billion sales in 2005 to whooping 1.9 trillion won last year. Analysts believe that the increasing demands of the products are due to the recognition of Korean culture worldwide.

"Korea has a culture of taking care of your skin, and it's been that way for thousands of years," said Alicia Yoon, an e-retailer of Korean beauty products in New York.

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