Last year, the domestic cosmetics export value surpassed $10 billion.
The Ministry of Food and Drug Safety noted on the 6th that as of the end of December last year, the export volume of Korean cosmetics reached $10.2 billion, a 20.6% increase from the previous year. This is a 10.9% increase from the previous record high of $9.2 billion in 2021, marking the largest export figure in the history of domestic cosmetics.
Cosmetics exports have shown continuous growth since exceeding $1 billion for the first time in 2012, and they crossed the $10 billion mark after 12 years. In October of last year alone, exports recorded over $1 billion.
By product type, the export value was recorded at $7.67 billion for basic cosmetics, $1.35 billion for color cosmetics, and $470 million for personal cleansing products.
By country, exports to China were the highest at $2.5 billion, followed by the United States at $1.9 billion and Japan at $1 billion. The top 10 countries accounted for 77% of total exports, with the United Arab Emirates showing a continuing upward trend in exports, marking its entry into the top 10 for the first time.
Exports to the United States increased for almost all product types, with basic cosmetics seeing a rise of $560 million compared to 2023, color cosmetics increasing by $500 million, and personal cleansing products also up by $500 million. During the same period, Japan saw increases of $150 million for basic cosmetics, $7,000 for color cosmetics, and $1,000 for personal cleansing products.
Oh Yu-kyung, head of the Ministry of Food and Drug Safety, expressed gratitude for the industry's efforts in achieving a record high export of $10 billion despite the difficult circumstances of tightening global regulations on cosmetics, stating, "This year, the Ministry will support our industry in continuing the growth trend in cosmetics exports through regulatory diplomacy to strengthen collaboration between countries and enhance international quality competitiveness in response to safety evaluations in China and the United States."
To celebrate the achievement of $10 billion in cosmetics exports, the industry will also hold events. Olive Young Global Mall, which plays a bridging role between domestic cosmetics and global customers, will conduct a discount event in January for 100 products that were well-received overseas last year.
Additionally, the Korea Cosmetic Association will conduct events that allow consumers to participate directly and host relevant commemorative events, including the ▲K-Beauty My Story Shines Brighter event ▲K-Beauty Quiz Challenge ▲Short-form Contest to Celebrate the Achievement of $10 Billion in Cosmetics Exports.
In February, a ceremony will be held to celebrate the export achievements of K-Beauty, with the government, industry representatives, and the Korea Cosmetic Association together, honoring major companies and individuals who contributed to cosmetics exports.