Status of Cosmetics Regulations in Korea

Korea ranks amongst the top ten cosmetics markets in the world and represents about 2.8 percent of the global market 1 . Korea is considered as global center of innovations in cosmetics -"K-Beauty" is on the rise. South Korean products impress through their effectiveness, packaging and sensory appeal and by thus, inspire Western brands. Cosmetics in South Korea are defined as products applied or sprayed onto the human body in order to clean, beautify, change, brighten, maintain or promote the health of skin and hair. The South Korean Cosmetic market is valued about 10bn USD today with an estimated CAGR of 4.95% during 2017-2030 2 .