Korean Cosmetics Boom

Published on 2012/07/08 | Source

This is a duty free shop in Seoul.

Customers are swarming in the Korean cosmetic brands section seen on the left, while shoppers in the foreign brand section on the right are rather sparse.

The Korean cosmetics market has been growing by more than 10 percent annually since 2008 and sales of domestic cosmetics in duty free shops from January to April this year jumped by over 93 percent from the same period last year.

[Reporter : Yoo Li-an,Lian.yoo@arirang.co.kr] "This is one of Amore Pacific's Sulwhasoo cosmetic products from Korea. It took the number one spot in department store cosmetic sales in May, pushing Proctor and Gamble's SK-II and L'oreal's Kiehl's into second and third place".

Experts say that one of the LEADING factors separating Korean cosmetics from the international competition are that they are made of organic materials.

[Interview : Kim Ju-duck, ProfessorSookmyung Women's University] "After harmful chemical substances such as talc which contains asbestos were found in cosmetics in recent years, consumers are turning to safer products. Korean cosmetics companies meets consumers' needs by producing eco-friendly and plant-based products".

Korean products also offer greater value for their prices and various skin care products that are specifically designed for individual skin types according to a recent industry survey.

[Interview : Zejing Li, Foreign Exchange Student] "Korean cosmetics are famous worldwide. They are made of natural ingredients, so I feel safe using them".

[Interview : Kim So-yeon, Seoul Resident] "I used to use a lot of imported cosmetics, but they are extremely expensive. When considering price and quality, I think Korean cosmetic products are better since they have better results".

Experts say if the government seeks policies promoting research and development into the cosmetics industry to help companies make products that meet consumers' needs, cosmetics may well be Korea's next leading industry.
Yoo Li-an, Arirang News.

Reporter : Lian.yoo@arirang.co.kr