[Graphic News] S. Korean cosmetics exports hit record high in H1

Korean cosmetics exports surpassed $4.8 billion in the first half of 2024, setting a new record for beauty product exports within the first six months of a year. The figure is an 18.1 percent increase from the same period last year, according to the Korea Customs Service.

This milestone surpasses the previous semiannual record of $4.63 billion set in the first half of 2021. During the first half of this year, cosmetics imports amounted to $850 million (1.2 trillion won), resulting in a trade surplus of $3.97 billion, also a record high. This trade surplus underscores the robust performance of the cosmetics sector, which continues to significantly outpace imports.

The volume of cosmetics exports in the first half of this year is 6.1 times larger than in the first half of 2014, which stood at $790 million. Last year, Korean cosmetics were exported to 195 countries, showcasing the global reach and popularity of Korean beauty trends.