SOUTH KOREAN COSMETICS BRANDS WILL NEED ALL THEIR INNOVATION AS CHINA MARKET TIGHTENS OVER THAAD ISSUE
March 1st, 2017
THE cosmetics sector of South Korea, evaluated at USD12 billion in sales during 2016 by market researcher Frost & Sullivan, has been enduring a tough crash course in political risk since its government agreed to host the US missile-defence system Terminal High-Altitude Area Defence (THAAD).
Although THAAD’s declared aim is to defend South Korea from North Korea’s missiles, China perceives itself the as the real target and opposes the deployment vehemently. Its government is not averse to using nationalism to whip up consumer reaction against countries it ...
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