SEOUL — In a positive sign for the Korean beauty industry, South Korea’s cosmetics exports enjoyed a 16.1 percent year-on-year increase last year despite the coronavirus pandemic.
Korea’s total cosmetics exports reached $7.57 billion in 2020, the latest data from the Korea Customs Service and the Korea Cosmetic Association revealed on Sunday.
The country’s cosmetics exports had enjoyed double-digit growth rates every year since 2012 until the figure dipped to 4.2 percent in 2019.
When broken down by country, $3.81 billion was generated in China, up 24.5 percent, followed by the US, Japan and Vietnam, where exports grew by 21.6, 59.2 and 18 percent, respectively.
The jum…
Keep on reading: K-beauty gains ground despite pandemic as Korea’s cosmetics exports rise 16%