S. Korea's cosmetics exports up 15% in 2020

South Korea's exports of cosmetics shot up 15 percent in 2020 from the US$6.12 billion a year earlier, according to the data compiled by the Korea Customs Service and the Korea Cosmetic Association.

South Korea's first-quarter shipments were up 32.4 percent on-year to $1.88 billion.

Demand from South Korean cosmetics was primarily from the US and Asia, fueled by the popularity of South Korean-made entertainment, such as including pop music, movies, and TV dramas.

Meanwhile, South Korea's cosmetics imports dropped 10.7 percent on-year in 2020 to $1.07 billion.

The country's exports of cosmetics had been maintaining two-digit annual growth since 2012, until they temporarily slowed in 2019, only rising 4.2 percent.

Exports to Japan soared 58 percent, while those to China went up 24.6 percent and to Vietnam by 17.6 percent.