S. Korea records highest cosmetics trade surplus in 2017

By Park Sae-jin Posted : July 5, 2018, 14:58 Updated : July 5, 2018, 14:58

[Yonhap Photo]



SEOUL -- Helped by the popularity of Hallyu (Korean cultural wave) abroad, South Korea's cosmetics trade surplus hit a record high of more than 4.2 trillion won ($3.7 billion) in 2017.

The Ministry of Food and Drug Safety said in a statement on Thursday that the trade surplus of cosmetics products in 2017 was up 8.5 percent from a year ago.

Despite a diplomatic feud over the deployment of an American defense missile system in South Korea last year, China imported $1.9 billion worth of beauty products, followed by Hong Kong with $1.2 and the United States with $400 million.

Last year's cosmetics exports to Vietnam increased 96.9 percent on-year to $140 million and Indonesia imported beauty products worth $24 million, up 60.8 percent from a year ago.

 

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