The country’s cosmetics production and exports both hit record highs last year. 

According to the Ministry of Food and Drug Safety on Tuesday, in 2024 the country’s cosmetics production jumped by 20-point-nine percent from a year earlier to 17-point-54 trillion won, or about 12-point-eight billion U.S. dollars, while exports rose 20-point-three percent to ten-point-two billion dollars.

Both figures marked all-time highs. 

The country came in third in the world last year in cosmetics exports, trailing France and the United States but overtaking Germany, which held the No. 3 spot the previous year. 

South Korea exported cosmetics to 172 countries last year, up seven from a year earlier. 

The largest market was China, followed by the United States, Japan, Hong Kong and Vietnam.