Exports drive South Korea’s C&T market
Defying the country\'s downward economic trend, South Korea\'s cosmetics market has been helped by inbound tourists and growing export sales particularly to China
Despite a weak economy, South Korea’s major cosmetics makers performed well in 2012, helped by inbound tourists and growing export sales, particularly to China.
Market leader AmorePacific achieved record sales of South Korean won KRW2,849.5bn, up 11.5% on the prior year. Meanwhile, product innovation and overseas expansion enabled the cosmetics sector of LG Household and Health Care to achieve a 2012 sales increase of 20.5% to KRW1,480bn, while operating profit increased 25.3% to KRW212bn.
