AmorePacific looks to Thailand as K-beauty seeks a ‘new China’

AmorePacific looks to Thailand as K-beauty seeks a ‘new China’

With its buoyant Chinese market under threat of sanctions, the K-beauty camp is looking elsewhere for growth, according to a report published by The Korea Times.

Cosmetics exports to Thailand have soared in the last three years, as Korean exports in general dropped in the same period; down 6 percent compared to an annual average growth of 10.6 percent for Korean food, cosmetics and clothing.

AmorePacific is said to be investing heavily in the Thai market, with a new research and innovation lab in Singapore aimed at strengthening its presence in south-east Asia, particularly Singapore, Malaysia and Thailand.

Korea’s trade investment agency KOTRA is gearing up to host the Hallyu Exhibition in Bangkok in the second half of the year in a bid to promote K-pop culture to a Thai audience, while K-Beauty Expo Bangkok is scheduled for September.

 

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