Korea’s cosmetics exports reached a record high in the first quarter of this year, firmly establishing itself as a key export driver, the finance ministry said Monday. Outbound shipments of Korean beauty products rose 19 percent from a year earlier to a record $3.1 billion in the January–March period, according to the Ministry of Finance and Economy, which cited data compiled by the Ministry of Food and Drug Safety. “The K-beauty industry’s cosmetics exports are maintaining strong growth this year and have become one of the country’s leading export drivers,” the ministry said. In an effort to assess on-site conditions in the K-beauty industry and hear about business difficulties, the finance ministry inspected a cosmetics manufacturing facility Monday. During the inspection, the ministry said officials listened to industry concerns over global supply chain uncertainties stemming from the ongoing Middle East conflict and pledged to strengthen government support so that the K-beauty industry can continue to grow as a key export engine.
Exports of K-beauty products hit all-time high in Q1: data
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