South Korea's K‑beauty exports reach $57.3 bn record in first half 2024

South Korean cosmetics exports surged 25.1% year‑on‑year to $57.28 billion (8.5 trillion won) in the January‑June period, the highest first‑half figure since customs data collection began in 2000. The United States remained the top market with $11.12 bn in sales, while the United Kingdom posted a 130% jump to $1.95 bn, boosted by Amazon Prime Day activity that added $2.18 bn – a 45.6% increase over the same month last year. The export surge was aided by a stronger won‑dollar exchange rate and heightened online retail promotion.

Exports to China continued to decline, falling 5.1% to $8.5 bn, marking the second consecutive year the market slipped below the $10 bn threshold. Industry analysts expect the strong overseas performance to lift second‑quarter earnings for major Korean beauty groups: APR forecast a 133% rise in sales to 7.63 trillion won, Amorepacific projects an 8.45% increase, while LG Household forecasts a profit rise despite a 2.55% sales dip. Companies are also expanding product lines to deepen their presence in the U.S. and European markets.