We use cookies to operate this website and to improve its usability. Full details of what cookies are, why we use them and how you can manage them can be found by reading our Privacy & Cookies page. Please note that by using this site you are consenting to the use of cookies.

Korea Country Focus: Current R&D And Herbal Medicine Cosmetic Trends In Korea

Korea Country Focus: Current R&D And Herbal Medicine Cosmetic Trends In Korea

30 Oct 2013, 13:00 - 13:30

Marketing Trends Theatre

Language:
English

The cosmetic industry in Korea is now faced with up and coming opportunities from overseas whilst struggling with a sharp reduction in sales mainly caused by the current domestic economic crisis. Exports of cosmetic products are growing at a higher rate than imports, mostly thanks to the increase of exports to China, Japan, Hong Kong and other Asian countries. Although the CAGR growth between 2008 and 2012 was 10.8%, domestic sales are showing a significant reduction this year. ‘Hanbang’ cosmetics produced based on Korean traditional medicinal herbal recipes and wisdom have recorded a 15.7% CAGR growth between 2009-2011 and enjoyed a 23.8% market share in 2011. Further details on the Korean market and research trends will also be presented. 

Contributors

  • Chang Seo Park

    Speaker

    Professor

    NCR

    Chang Seo Park is currently a professor in the Department of Chemical and Biochemical Engineering at Dongguk University, Seoul, Korea. He also holds...