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Global Trendsetter
Backed by Innovative Technology
In 2022, Korea stood in ninth place in the global beauty & personal care market share, following traditional cosmetics leaders such as the US, UK, and Japan.
Korea is Suited to be a Test Bed for Cosmetics MakersKorean consumers are quick to respond to innovative technologies and new products, and have high standards for quality and safety. In that regard, Korea is suited to be a test bed for cosmetic makers looking to assess the viability of their newly-developed products.
Leading the Skincare
and Functional Products Market
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Cosmetics Companies
Across KoreaDomestic cosmetics companies are located in industrial complexes across the country, including Gyeonggi, Chungbuk, and Daejeon. The areas with several cosmetics companies and research institutes and having excellent research and settlement environments are designated as clusters to create production facilities, research institutes, human resource training institutions, and infrastructure.
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Establishment of Comprehensive Infrastructure
for Advancement of the
K-Beauty Industry
In July 2024, the government unveiled a plan to strengthen the private sector ecosystem, providing more opportunities for companies to expand their cosmetics exports and drive growth. The plan is based on three key strategies: (1) identifying and nurturing public-private partnerships for promising K-beauty companies, (2) systematically addressing overseas export regulations, and (3) elevating the K-beauty ecosystem to new heights.
Woomin Park
Key Industries Promotion Team
+82-2-3460-7888
wmpark@kotra.or.kr
Korean Companies
Attracting Foreign Investors
M (Swiss company)
M completely acquired Gowoonsesang Cosmetics, which had developed the derma cosmetics brand Dr.G for the past twenty-two years. The acquisition signifies that global players are highly interested in beauty products made with new technologies such as derma cosmetics. The case also shows the presence of Korean brands and companies that are already building global recognition in this segment based on innovative technologies.
E (US company)
Prior to the above case, an American global cosmetics group acquired Korea's Have & be, which owns the highly-recognized derma-cosmetics brand Dr. Jart. The case is another testament to the growing global interest in derma-cosmetics and the status of Korean tech companies showing clear strengths amidst the trend.