Could Beauty Products Be Korea’s New Export Engine?

“As South Korea suffers from a prolonged drop in exports, one industry is posting double-digit growth in shipments and grabbing the attention of policy makers searching for a new growth engine—cosmetics. Overseas sales for the cosmetics industry rose 73 percent this year through July, compared with a 4.9 percent decline for all industries. Beauty products outperformed Korea’s so-called 13 flagship items like cars, chemicals and steel, most of which have seen their sales drop.” Read more at Bloomberg.