The business ministry stated Thursday it should devise new help measures to increase Korea’s cosmetics exports amid the worldwide recognition of Korean beauty-related merchandise.
They’re anticipated to incorporate the institution of worldwide on-line malls for Korean-made cosmetics merchandise, in addition to specialised supply and fee options for international shoppers, in response to the Ministry of Commerce, Business and Sources.
The federal government additionally plans to help home cosmetics corporations’ of their abroad growth and assist them break into main abroad retail networks.
Such a imaginative and prescient was shared forward of Commerce Minister Yeo Han-koo’s go to to Silicon2, an organization that operates the nation’s greatest on-line platform for international purchases of Korean magnificence merchandise, in Seongnam, Gyeonggi Province.
Final yr, Korea’s cosmetics exports hit a document excessive of $10.2 billion as world demand for the merchandise elevated in keeping with the recognition of Korean tradition.
Within the first 10 months of this yr, outbound shipments of cosmetics reached $9.42 billion, up 11.9 p.c from a yr earlier.
