China Was South Korea's No.1 Export Market for Cosmetics Last Year
Yicai Global
/SOURCE : Yicai
China Was South Korea's No.1 Export Market for Cosmetics Last Year

(Yicai Global) Feb. 22 -- China was the top export market for South Korean cosmetics last year, accounting for 37.5 percent of all the make-up products shipped out of the country.

South Korea's cosmetics exports to China were worth USD1.57 billion in 2016, Yonhap News Agency reported today, citing statistics published by the South Korean government. The country's total cosmetics shipments surged nearly 44 percent to USD4.35 billion for the year.

Hong Kong was the second-largest market for South Korean cosmetics, making up almost 30 percent of the total, followed by the US (8.3 percent), Japan (4.4 percent) and Taiwan (3.3 percent).

There has been growing concern in South Korea that its deployment of the US's THAAD anti-ballistic missile system, which the Chinese government opposes, may cause problems for cosmetics exports to China. The US and South Korea recently reiterated their resolve to deploy the system in the Korean peninsula this year, as planned.

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