Korean Cosmetics: Popularity Of The K-Pop Culture
Chapter 2: Literature Review
2.1 Overview of Korean cosmetic
As the popularity of the K-pop culture hits the global, there is also an increase in the interest of Korean fashion and life style. Due to this interest, there is a positive perception towards related Korean products and Korean cosmetics are one of them (Han, 2011). Korean cosmetics are indeed widely known and appreciated worldwide with exports to 129 countries reaching $1.45 billion in 2014, according to the Korean Customs Service (Koreanet, 2014). Besides influencing by Korea culture, Korean cosmetics do more focus on Asian’s make-up style which other global cosmetic brands do not pay much attention to it. Hence, this can be one of the comparative advantages of Korean cosmetics
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The beauty and health market in Malaysia is growing fast. According the Malaysia department of statistics the total spending in in cosmetics and toiletries is about US$407 million in year 2013. Malaysian consumers tend to obtain beauty products from top name brands that are marketing specifically in term of enhancing youthful appearance. Furthermore, the price point for Korean cosmetics and personal care products that are available in-country are more affordable in comparison to the U.S., EU, Australian and Japanese products. AmorePacific Malaysia Sdn Bhd, which is the only fully-owned subsidiary among Korean cosmetics companies in Malaysia, is also the fastest growing cosmetics company in the country. Last year, it recorded sales growth of 78% from the year …show more content…
According to previous research, the number of foreigner visiting Korea because of Korean Wave has increased steadily (Hae Kyung Yu; Chan Ju Kim; Heera Kim, 2012). From the research, tourists from Japan and China, who account for more than 50 of all visitors to Korea, are likely to purchase cosmetics products, partly because of the so called Korean wave, a widely accepted form of Korean popular culture across Asia. The results indicated significant differences between the two groups. In general, Chinese respondents were more likely to be satisfied with and have a favourable view of Korean cosmetics products. Moreover, the Korean government has put effort to support Korean wave as industry such as using celebrities in tourism advertisement, by displaying their figure on foreign version of Korean Tourism Organization website, and even direct supports for Korean media companies (Ravina, 2009). For example, Lee Jong Suk, a Korean star has become a representative of Korea as he is named an Ambassador of Korean Tourism in year 2017. Hence, commercials which promoting Korea tourism is widely spread through online by the fans of the celebrity who is showed in the
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