(MENAFN) As the Korean Wave, or Hallyu, fueled solid demand from China and other Asian nations, exports of South Korea-made cosmetics more than tripled throughout the last five years.
According to the data by Korea Customs Service (KCS), outbound shipments of makeup products hit USD2.45 billion in 2015, growing 53.1 percent from USD1.56 billion registered a year earlier.
Specifically, the previous year's numbers surged more than threefold from USD698 million back in 2011, with an annual average progress of 36.9 percent through the 2011-2015 timeframe.
China is the biggest buyer of Korean beauty products, importing USD999.5mn last year; Hong Kong came in second, buying USD606.4mn worth of South Korea cosmetics followed by the US with usd207.3mn.
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