How is South Korea’s K-Beauty industry hit by Trump’s rates

Cars and smartphones may be recorded in the largest exports of South Korea in the United States, but some items follow more dedicated to the beauty products of the Asian country.

K -Beauty – A wide range of skincare, makeup and cosmetics in South Korea – is appreciated for its quality and value, driving. Increasing demand in recent years??

The global appeal of South Korean culture has also helped to increase its cosmetics.

The US-based Pearl MAC tells the BBC that she was introduced to K-Beauty products by her friends. The 27 -year -old graphic designer says that South Korea’s serum is more suitable for her skin than some Western brands.

Now “95% of my skincare is made of K-Beauty products”, she continued.

Ms. Mak is not alone in her favorites of the South Korean Skincare brand. Industry estimates that the Americans spent $ 1.7 billion ($ 1.3 billion) on K-Beauty products in 224. This is a sign of greater growth of more than 50% compared to the previous year.

K -Beauty products are often more attractive than their Western parts – but not commonly found in the west – also characterized by heartfelt mucin.

US President Donald Trump now A 15% import tax on South Korean goods Trade between Soul and Washington.

Trump is less than 25% of the threatening, but many customers do not take any possibilities.

The US K-Beauty retailer Sant brand increased by about 30 percent in April, Trump unveiled US import taxes on most people in the world.

“When the rate announcement was hit, it was strategic to how the climate of the consumer storm was going,” Santa brand founder Cheenne Ware told the BBC.

“Customers are preparing against uncertainty.”

The manager Vinny Zong says another K-book retailer, Centy Centy, has been ordered by more products since Trump launched his rates threats.

This week, she appealed to the retailers to “stock up before prior to” from suppliers.

Both retailers said that prices of K-beauty products are likely to increase as the cost of the entire industry has increased in size.

“Anyone who tells you prices in the next two years is naive,” says Ms. Ware.

Munseob Lee, an economist of San Diego University at the University of California, says, especially for small sellers of beauty products on platforms like Amazon.

Despite the high prices, global popularity in South Korea’s culture is likely to be in the United States in K-beauty products, he says.

“Central buyers may be closed at high prices, but fans will not find a simple option.”

Ms. Zong is agreed. She thinks customers still want to buy K-beauty products, but the price rise means they buy less items than before.

Ms. Makala is unlikely to stop buying her favorite products.

She said, “It depends on how much the value is, but so far I am ready to pay more to buy the same products,” she says.

South Korea-based business adviser Ile Victor Mamo said that the Big K-Beauty brands are in a better position to embrace prices than their small competitors.

These big companies will be able to avoid the huge prices of their customers as they have more profit margins, they say.

But in South Korea, small K-beauty companies that make their products will struggle to cover up the expense, Shri Mamo further said.

“Most of the goods sold in a short time can take some time as it starts at the current prices, but we will soon see it while playing it.”

In recent days, President Trump has dealt with Japan and the European Union, which will be seen in the United States with their exports subject to 15% of the rates like South Korea.

That is, the country with some of the largest cosmetics brands in the world faces the same as the K-Beauty industry.

The center of Trump’s trade policies is his ambition to make more goods in the United States.

But that means that it means that American buyers switch to American beauty products.

Ms. Mak says that she does not see US-made products as an attractive alternative.

“I often look for American-made options, but I haven’t yet found it as effective as I use. So I will not go for American products yet.”