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Is Kbeauty Getting More Expensive?

March 15, 2022

Is Kbeauty Getting More Expensive?

Is KBeauty Getting More Expensive?

 

Episode Description:

On this week’s news update episode of the Korean Beauty Show podcast, Lauren discusses the price of Kbeauty products rising and answers a listener’s question about what the new President of Korea might mean for visitors to Korea, foreigners and women. Lauren also introduces a new show segment “Recommendation of the Week”. 

 

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Kbeauty News Headlines - Price of Cosmetics is Rising Because Raw Material Prices Have Risen 

  • Prices of mid- to low-priced cosmetics in Korea such as Innisfree and Missha are rising because manufacturing costs have risen.
  • According to Innisfree, the prices of major products increased by 3 to 36 percent this month.
  • Able C&C's low-cost cosmetics brands Missha and Apeiu also raised prices.
  • Last year, LG Household & Health Care raised the price of products from three of its brands by an average of 5%. 
  • Other companies are likely to join 

 

Is Kbeauty Getting More Expensive?

Question of the Week - What does the new President mean for Korea?

  • New President Yoon Seok Yeol is a conservative from the People's Power Party
  • This was the eighth presidential election since democratic elections resumed in 1987, after decades of military rule.
  • Voter turnout was similar to the last vote five years ago.
  • He has expressed a desire to loosen COVID restrictions, which likely means opening Korea back up to international arrivals.
  • One of his pledges that attracted a lot of commentary was the plan to abolish the country's Ministry of Gender Equality and Family.
  • He has promised to build more housing and lower real estate taxes. 
  • He is not a fan of foreigners - last year he said he would solve the issue of foreigners “putting spoons on dinner tables prepared by Korean citizens" because he believes that foreign nationals are abusing South Korea’s health insurance system. He went on to single out Chinese nationals as a burden on the country’s health insurance system. This position is contrary to the data, which shows that foreigners contributed a surplus to the NHIS of about 571.5 billion won ($475.2 million) in 2020.
Is Kbeauty Getting More Expensive?

New K-Beauty Product Releases

  • Skinfood Salmon Dark Circle Concealer Cream 
    • New to STYLE STORY by popular request
    • Assists to conceal dark spots, under eye marks and fine lines.
    • Contains Norwegian salmon oil, to boost skin's immunity and fight the signs of aging. 
    • Offers full coverage for dull under eyes and creates a glossy skin tone that looks refreshed 
  •  Skinfood Peach Cotton Multi Finish Powder (5g) absorbs oil and sweat for a fresh and matte appearance all day long.
    • Skinfood's ultra-fine, translucent finishing powder sets foundation and BB Cream to give your skin a flawless, air-brushed finish.
    • If you find your makeup needs constant retouching throughout the day, then this is the product you need. 
    • Skinfood's Finish Powder uses the Air Jet Mill Method, which collects powder particles that are lighter and more even than regular powders. This helps to minimise product caking on your face.  


Kbeauty Product Reviews

Tosowoong Ovalicin Cream  

  • "Instant relief
  • Instantly soothe my currently irritated skin due to barrier comprised. The cream is thicker yet smooth and I can comfortably applying it generously though not needed over other serums and moisturiser without experiencing any pilling. I have even tried it over my makeup when my skin decided to flare up in the middle of a very long day and surprisingly it worked! I love the tea tree smells too as it reminded me of my childhood. Overall, I really love this product, it’s a gem."

APLB Derma Daily Repair Cream 

  • "Really like it
  • I've tried a lot of moisturisers and this is gorgeous. The texture is beautiful and it did a really good job of hydrating my really dry skin as it's quite thick but absorbs well"

Recommendation of the Week 

  • Drama Juvenile Justice on Netflix

  • A good watch to get an overview of some of the issues facing youth in Korea and how the criminal justice system works. 

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Kbeauty Tips for Reapplying Sunscreen Over Makeup
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Is Clean Beauty setting back the future of the Korean cosmetics industry?
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Skinfood Peach Cotton Multi Finish Powder 5g

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Unfortunately, we can expect to see the cost of not only Kbeauty products but other beauty products continue to rise for the time being due to the rising costs of raw materials. This is going to be more obvious at the mid-to-low end of the market because luxury beauty products tend to have more of a buffer with higher profit margins built in."

- Lauren Lee, Host of the Korean Beauty Show Podcast

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