South Korea has recently established a strong reputation for its beauty goods and introduced its own brand of innovation and excellence to the market. Products made in Korea are currently in high demand worldwide. What propelled South Korea to the top of this sector so quickly?
Beauty Standard in South Korea
Appearance and beauty are considered to be significant to Koreans, especially females. In Korean society, physical attractiveness and attractiveness are highly valued, to the extent that they may significantly affect the recruiting process and a candidate's chances of landing a job. Because of this, there is a huge demand for cosmetic procedures and beauty goods. The Korean skincare and cosmetics market is big, fragmented, and fiercely competitive. To survive, firms must continually study and create new products.
Unexpected Results
The goal of the Korean holistic approach to beauty is to improve skin from the inside out. Some think that treating the skin's surface layers won't produce a really glowing complexion overnight. Instead, for results that last a lifetime, Korean skincare focuses on maintaining a healthy, well-hydrated, and nourished skin environment.
Innovation
South Korea is known for its innovative and advanced cosmetic technology, which has allowed them to produce high-quality products at a lower cost. South Korean cosmetic companies invest heavily in research and development to create new and unique products that cater to the global market.
Korean cosmetic firms place a focus on employing natural and organic components like rose, lavender, and mint, as well as clean oils for skin hydration benefits and pleasant aromas, on meeting the need for healthy and sustainable goods. The environmentally friendly method is used for both ingredients and packaging.
Hallyu (Korean Wave)
In Korea, celebrity endorsements carry a lot of weight and are a major factor in the growth of the cosmetics industry. Everyone desires to use the same cosmetics their idols utilise
to appear like them. With the spread of the Korean wave, this impact is becoming more widespread, which is boosting demand for South Korean cosmetics throughout the world.
Government Support
The South Korean government has been supportive of the cosmetic industry, providing tax incentives and funding research and development to boost innovation and growth.
Reference:
Le Guay, B., & Gallon, V. (2021, October 18). K-Beauty: How did Korea make its mark in the world of cosmetics? Premium Beauty News. https://www.premiumbeautynews.com/en/k-beauty-how-did-korea-make-its,19204
South Korea cosmetics market report and forecast 2023-2028. (n.d.). Expertmarketresearch.com. Retrieved April 5, 2023, from https://www.expertmarketresearch.com/reports/south-korea-cosmetics-market
South Korea - cosmetics. (n.d.). International Trade Administration | Trade.gov. Retrieved April 5, 2023, from https://www.trade.gov/country-commercial-guides/south-korea-cosmetics
Yoon, S., Song, S., & Kang, M. (2020). The Growth and Change of Korean Cosmetics Market in
Distribution Structure. Journal of Distribution Science, 18(1), 5–13.
https://doi.org/10.15722/jds.18.1.202001.5
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