SOUTH KOREAN BEAUTY SECTOR IS STRONG, BUT WILL NEED TO INNOVATE TO COPE SUCCESSFULLY WITH COVID-19 CRISIS
March 2nd, 2020
With the Korea Cosmetic Industry Institute (KCII) estimating there were USD11.7 billion’s worth of South Korean-made personal care products (‘K-beauty’) sales in 2019, including nearly USD6.49 billion in exports, and more than 16,000 individuals and businesses officially licensed to provide cosmetic products and services, South Korea’s cosmetic industry has the innate strength it will need to cope with the Covid-19 crisis. Last year, it was, according to the KCII, the world’s ninth top global beauty industry, ahead of Italy in terms of receipts. ...
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