Snail creams lead Korean export push into China’s cosmetics market

SEOUL - Korea Customs Service for January-November 2015 show that exports of Korean-made cosmetics were worth more than US$2.64 billion for the period, the highest level yet. Cosmetics imports over the same period totalled US$1.56 billion.

Growth in Korea’s skincare and cosmetics industries is reflected in trade figures since 2012. In that year, Korea exported products worth just over US$1.02 billion. This rose to US$1.27 billion in 2013 and to US$1.91 billion in 2014.

Makeup exports to China accounted for more than 40% of the total. In 2013, Korea exported only US$0.31 billion worth of cosmetics to China. That figure rose to US$0.59 billion in 2014, and jumped more than 70% to US$1.05 billion in 2015.

Hong Kong has become the second largest export destination for Korean skincare and cosmetics, importing some US$ 0.62 billion worth, followed by the US with about US$0.21 billion. Japan and Taiwan were the fourth and fifth largest export destinations, at US$0.13 billion and US$0.12 billion, respectively.

Other countries importing Korean cosmetics include Thailand, Vietnam, Malaysia and Russia.

Korean-made so-called snail creams are popular with Chinese customers because they are a high-quality skincare product, despite their economical price. Snail cream is made from a special thick, slippery ingredient extracted from snails that "firms" and moisturises the skin.

Thanks to its various functions - moisturising, firming, whitening, and soothing - Chinese users have dubbed it a “multifunctional skincare cream”. It is one of the must-buy items for many Chinese tourists visiting Korea. www.korea.net (ATI).