Seoul Overtakes Paris in Beauty Boom With Dealmakers Rushing In
Customers browse Amorepacific cosmetics at the store inside the company's headquarters in Seoul, South Korea.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
As South Korean cosmetics gain popularity in the US, the world’s biggest market for beauty products, personal care startups in the east Asian country are seeing a surge in dealmaking demand.
Seoul, long a destination for beauty services, last year became the top exporter of cosmetics to America, overtaking France, according to the US International Trade Commission. In the same period, Korea’s total cosmetics shipments hit a record $10.2 billion, from $7.5 billion in 2020, according to the Korean Food Ministry.