Cosmetics Exports

[Anchor Lead]

Korean exports of cosmetics now stand at more than double imports. Korean skincare and makeup product exports are growing at a phenomenal pace as the industry becomes a new national export engine.

[Pkg]

This cosmetics shop in Myeongdong, central Seoul, is packed with foreign tourists. The hottest item in the shop is a cushion-type foundation.

[Soundbite] (Chinese Tourist) : "It's clear, bright, and moist. It's not dry like other foundations."

[Soundbite] (Japanese Tourists) : "The price is reasonable. (I like the colors of Korean makeup products.)"

Some tourists even purchase facial skin care masks by the box.

[Soundbite] (Singaporean Tourist) : "I have sensitive skin. I cannot use just any product, so I use Korean cosmetics."

The popularity of Korean cosmetics leads to stellar export figures. Last year, Korea exported 2.58 billion dollars worth of cosmetics. Cosmetics exports outpaced imports for the first time in 2013. Since then, the gap between exports and imports of cosmetics has more than doubled. The annual rate of increase for cosmetics exports stands at 53%, making it second only to TV cameras in export growth.

[Soundbite] Shin Eun-yeong(Marketing Team, Cosmetics Company) : "Korean cosmetics have two competitive edges – exceptional quality and timely and trendy market release."

Exports to Europe and North America have also spiked recently, illustrating the spread of K-beauty fever to all parts of the globe.