"Is It Really This Big?" World Number One in Sight... K-Beauty’s Surge Captivates Foreign Consumers with Trusted Korean Products

Korean Exports Up 25% in First Half, France Down 0.6%
Monthly Turnaround in April and May, Skincare Gap Narrows to 27.2 Billion Won
Already Surpassed France in the U.S.; Eyes on World's No. 1 for Basic and Color Cosmetics This Year

Attention is focused on whether K-beauty will surpass France, the so-called "homeland of cosmetics," to become the world’s largest cosmetics exporter this year. While France maintained the lead in export volume in the first half of the year, K-beauty is rapidly closing the gap with steep growth.

According to an analysis conducted on August 21 based on data from the Korea Customs Service and French customs, using the same commodity category (HS Code 3304), Korea's cosmetics exports—including skincare and color cosmetics—in the first half of the year amounted to approximately 7.9857 trillion won (USD 5.72453 billion). France, during the same period, recorded around 9.2798 trillion won (EUR 5.69401 billion), remaining slightly ahead. The calculations applied the exchange rates as of August 20 (USD 1 = KRW 1,395; EUR 1 = KRW 1,629.75).

Korea Catches Up to France

Although France led by about 1.2941 trillion won as of the first half, Korea is rapidly narrowing the gap. Korea's export value in the first half increased by 25.0%, from approximately 6.3862 trillion won (USD 4.5791 billion) in the same period last year to about 7.9857 trillion won (USD 5.72453 billion) this year. In contrast, France saw a 0.6% decrease in exports over the same period, from around 9.3361 trillion won (EUR 5.72855 billion) to approximately 9.2798 trillion won (EUR 5.69401 billion).

The monthly data highlight an even more remarkable shift. In April, Korea’s monthly exports reached about 1.5272 trillion won (USD 1.09479 billion), surpassing France’s figure of 1.51 trillion won (EUR 926.55 million). The trend continued in May, when Korea posted about 1.366 trillion won (USD 979.2 million) in exports, exceeding France’s approximate 1.3112 trillion won (EUR 804.52 million). Although France’s cumulative first-half total was higher, Korea outpaced France in monthly exports for two consecutive months.

In the skincare sector where K-beauty excels, the gap with France has effectively disappeared. The category of “other beauty, makeup, and skin care preparations” (HS Code 330499)—which includes skincare products—accounted for 92.8% of Korea’s total HS 3304 exports and 80.1% of France’s, making it the largest export category for both countries in the first half. Korea exported about 7.4074 trillion won (USD 5.30996 billion) in this category, while France exported around 7.4346 trillion won (EUR 4.56178 billion)—a difference of only 27.2 billion won.

The growth trajectories diverged even more significantly. Korea increased exports in this category by 28.9%, from approximately 5.7471 trillion won (USD 4.12015 billion) in the first half of last year to about 7.4074 trillion won this year. France, meanwhile, decreased by 1.9%, from around 7.5788 trillion won (EUR 4.65004 billion) to roughly 7.4346 trillion won. On a monthly basis, Korea outpaced France for three straight months from April through June.

Kim Kyung-ok, Head of Global Cooperation at the Korea Cosmetics Association, said, "Korean cosmetics show particular strength in skincare products such as mask packs and sunscreens, rather than makeup or perfumes. These product categories also enjoy high levels of preference overseas."

Korea Already Outpaced France in the U.S.

The trend of Korea catching up with France first appeared in the United States—the world's largest cosmetics market. In 2023, Korea’s cosmetics exports to the U.S. (HS Code 3304) reached about 1.4271 trillion won (USD 1.02304 billion), which was lower than France’s approximately 1.6345 trillion won (USD 1.17167 billion).

However, the tables turned in 2024. Korea’s exports to the U.S. surged to about 2.1589 trillion won (USD 1.54759 billion), surpassing France’s roughly 1.8598 trillion won (USD 1.33319 billion). Last year, Korea’s exports to the U.S. had already risen by 13% to approximately 2.4396 trillion won (USD 1.74881 billion) year-on-year, while France’s had decreased by 20.3% to around 1.4819 trillion won (USD 1.06228 billion). In 2023, France led Korea by about 207.4 billion won (USD 148.63 million), but within two years, Korea took the lead by about 957.7 billion won (USD 686.53 million).

K-beauty is also recognized as a formidable competitor in France itself. The French daily Le Monde reported that in 2023, France’s exports of cosmetics such as perfume and skincare declined for the first time in 20 years. U.S. tariff impositions were cited as a main cause. However, French media also analyzed that the rising competition from K-beauty—rapidly penetrating the U.S. skincare market—was another reason for the drop in French exports.

This content was produced with the assistance of AI translation services.