K-BEAUTY NEWS HEADLINES
Korea updates its visa-free entry list
- The government of Korea will remove temporary suspension of visa-free entry from Friday 1 April 2022 for 46 countries, including Australia and Canada. Applications will be possible from 31 March.
Cosmetics Import and Export Performance Analysis
- Korea's cosmetics exports totalled $9.225 billion last year, the largest ever, with a 21.8% year-on-year increase.
- Compared to $4.966 billion in 2017, the figure increased by 85.7%, and the average annual growth rate reached 16.7% during this period.
- The top five countries, excluding Hong Kong, have all seen double-digit growth.
- Excluding Hong Kong, the top countries, including China, the United States, Japan, Vietnam and Russia, recorded double-digit growth rates compared to the previous year.
- China, the largest export destination, was $4.94 billion, accounting for 53.2% of all cosmetics exports. The year-on-year growth rate was 28.8%.
- From 2017 ($1.943 billion) to last year, it increased by 152% over the past five years, during which the average annual growth rate reached 26.0%.
- Exports to the U.S. amounted to $843 million. The figure increased by 31.5 percent year-on-year.
- Hong Kong's decline is the most dramatic point. Last year, the figure fell 18.7 percent year-on-year.
QUESTION OF THE WEEK - Which Korean beauty brands used recycled plastic?
This is not a common claim by many Korean beauty brands that I know of. Instead, many brands do used recycled paper. Innisfree, Rovectin and Purito are three that come to mind.
Theprices of materials used to make recycled plastic are rising globally, including in Korea. Local companies are investing in plastic recycling plants. Some Korean companies are also stepping up their efforts to use recycled plastic, including Hyundai, Samsung, LG, Hanwha and Lotte.
In terms of Kbeauty companies, JSoop uses PCR plastic in its Clean J line, as does a new brand called The Phi. Aromatica claims to use recycled glass and post-consumer recycled (PCR) plastic.
AmorePacific Group announced last year that it would partner with GS Caltex to recycle 100 tons of Amore Pacific’s plastic bottles every year to turn them into compounded resin and apply them to cosmetics containers.
A search at offline stores here in Korea revealed that the brands that do use PCR plastic will usually say so next to their recycling symbol. They will say PCR - 25% or PCR 100%.
Some companies are also looking into paper tube packaging, to reduce their reliance on plastic. Amore Pacific is one of them.
Gcoop rolled out its vegan-approved lipstick line with paper-based packaging,
In January 2021, the Korea Cosmetic Association launched the 2030 Cosmetics Plastic Initiative. With this, they aim to do away with materials that are not recyclable by 2030. The initiative was joined by the likes of L`Oreal, LG Household & Health Care and Aekyung.
I think it is safe to say that while efforts towards sustainability are being made, this area of the industry is still very much in its infancy. At this stage, the big push I see is towards things like refill stations.
NEW K-BEAUTY RELEASES ON STYLE STORY
This eyelash serum is designed to strengthen, enhance and nourish your lashes. It provides intensive eyelash care for thin eyelashes. This serum contains peptides and essential amino acids to help thicken eyelash roots. It also adds hydration to dry eyelashes withHyaluronic Acid to promote strong and glossy eyelashes.
2 Types of peptides to provide moisture and nutrition to eyelash roots and surrounding skin. 17 Amino acids, including essential and non essential amino acids provide moisture and nutrition to the skin and eyelash roots.
Benton's red spot cream is ideal for skin that is blemished. It contains freshCentella asiatica extract, tea tree and skin protecting calamine. It delivers instant soothing hydration and can be used as a spot treatment on individual spots or in a full application
The key ingredients in Benton Goodbye Redness Centella Spot Cream include 42% of Centella asiatica extract, 10% calamine, tea tree oil and peppermint oil.
NEW K-BEAUTY REVIEWS ON STYLE STORY
"Cleansing yet so so hydrating
I was a little dubious when I first went to buy an oil cleanser. I really didn't want to overload my pores with too much oil and breakout. But this product does the complete opposite! It melts away make-up, sunscreen and all of the other pollutants that end up on my face everyday. I use it as the first step in cleansing and I love it. The scent isn't too overwhelming, and the texture feels silky and super hydrating. Love, love, love!"
"A must have moisturiser
I was so glad to get a sample of Jelly Ko moisturiser with a recent purchase of collagen cream. The first use already got me hooked. The texture is so smooth, my skin feels so soft and hydrated in the morning.
What more is my 25 years old daughter had a sniff and tried it too. Now we both love it. Just purchased a full size and looks like it'll be our regular item among others. Love your podcast too Lauren. A treasure and a pleasure to have KBeauty queen of our own in Australia."
RECOMMENDATION OF THE WEEK
Asian Boss
Asian Boss is a good resource to get a feel for what the average person on the street in Korea thinks about topical social and political issues. Basically, the premise of the Asian Boss Youtube channel is that a reporter and cameraperson stand on the street and ask people what they think about things in the news and burning social topics. They generally tend to speak to a range of people of varying ages. The people respond in Korean and there are English translations, so people are able to express themselves freely in their native language.
STYLE STORY - Your Go To for KBeauty
