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S. Korean Cosmetics Enjoy Strong Popularity in US Despite Protectionist Moves

Written: 2017-05-04 14:20:17Updated: 2017-05-05 14:08:54

S. Korean Cosmetics Enjoy Strong Popularity in US Despite Protectionist Moves

Despite the Trump administration’s protectionist measures, South Korean cosmetics saw growing popularity in the U.S.
 
According to the Korea Trade-Investment Promotion Agency’s branch office in Silicon Valley on Thursday, South Korea ranked fourth in the U.S.’s cosmetics import market in the first quarter. France came in first followed by Canada and China.
 
South Korea’s ranking last year stood at fifth after France, Canada, Britain and China.
 
That ranking moved up a notch after South Korean makeup products posted sharp growth of nearly 61 percent in the U.S. market compared to the fourth quarter of last year.
 
Such growth is 15 times higher than the average growth of four-point-one percent posted in overall cosmetic imports in the U.S. The growth rate was the second highest after Sweden’s.

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