When it comes to innovation, technology and effectiveness, Korean beauty is the undisputed world leader. The country is home to thousands of beauty brands, with the leading players launching between 2030 new products every month.
R&D is at the heart of its success – AmorePacific spends more than US$100m per year on R&D alone – and beauty technology from Korea is estimated to be 12-14 years ahead of the US.
Domestically, demand for unique, new beauty products has never been higher, while Korean brands are also increasingly influencing the way women and men around the world care for their skin. According to Euromonitor International, the Korean beauty industry will be worth more than US$13bn by 2020, but its preeminence relies on innovation and that is what makes this year’s in-cosmetics Korea so important to the region’s manufacturers.
A platform for innovation
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