Korean skincare products, or K-beauty as it’s colloquially named, have been taking over the world for the past 10 years. The origins of the K-beauty boom go back to the early 2010s. It flowered in tandem with other South Korean popular cultural exports, such as K-pop and K-drama. As 2024 approached, South Korea cemented its status as a trendsetter in the international cosmetics industry. Its exports reached a record $10.3 billion (£7.7 billion). This is a record-breaking number, with record exports up by 20% over last year.
Despite the booming market, K-beauty finds itself at the center of major authenticity challenges. In sharing her journey as an entrepreneur, Gracie Tulio, founder of PureSeoul, highlighted a critical concern. She tells us that up to 90% of K-beauty products purchased online could be fake. Just in 2024, Marqvision has already detected $280 million in counterfeit K-beauty products in the US market. Tulio expressed her concern about the dangers of shopping online for K-beauty products, stating, “Shopping online for K-beauty was a really scary experience.”
Mark Lee, CEO of MarqVision, stressed the importance of staying one step ahead of counterfeits to protect the industry. He noted that companies must take proactive measures to identify and remove fake products from sale to protect consumers and brand integrity.
Seoul Ceuticals, a brand founded in Finland but with Korean origins, uses only ingredients that are 100% South Korean grown and produced. Company members are mostly Korean, ensuring adherence to authentic K-beauty principles. Elisa Ahonpää-Kim, a team member, said, “From the beginning, there was something mysterious about what exactly K-beauty is supposed to be.” I guess it’s a very vague concept because on the market you will find a lot of brands that are made by Koreans who live abroad,” she stated.
The Korea Association of Cosmetic Manufacturers has instituted tough guidelines for their members to maintain authenticity. These steps have included registration with the South Korean government, as well as official testing and approval by the Korea Food & Drug Administration. Seung Gu Kim, a representative of the association, asserted that “the products should be manufactured by a Korean manufacturer.” He further stated that brands must develop their concepts and products with a “Korean perspective” to be recognized as genuine K-beauty.
While some brands have attempted to navigate this landscape by incorporating Korean ingredients or manufacturing their products in Korea, the question remains: what truly defines K-beauty? Ahonpää-Ki further pointed out that well-known international brands like Lancôme and Clinique could produce goods in Korea. That doesn’t necessarily mean they’re K-beauty brands.
Our very own Gracie Tulio gave an impassioned talk on what consumers really think about counterfeit products. “Even our customers can be sometimes tempted by the lower price [of online fakes]. It’s so tempting for them just to give it a go and see, and nine times out of ten, it’s not real,” she explained. The allure of affordability often blinds consumers to the risks associated with purchasing counterfeit products that may lack proper regulation or quality assurance.
Chang Nam Jang, another industry representative, emphasized the importance of remaining focused on promoting and expanding K-beauty while maintaining authenticity. He emphasized that without a product developed to Korea’s climate, a product has little hope of receiving serious notices in the home market. If it does come to fruition, it will be hailed as another K-beauty success story.
K-beauty is a global phenomenon. Today more than ever, consumers need help finding a safe harbor of authentic products amidst a dangerous sea of deceptive counterfeits. The industry’s rapid growth is a reflection of consumers’ growing demand for effective, high-quality skincare. Importantly, it highlights the continued effort needed to root out product fakes and forgeries in today’s digital marketplace.