The Israel Economic and Trade Office in Korea and The Israel Export & International Cooperation Institute recently hosted a webinar, inviting experts to share their insights into South Korea's burgeoning cosmetics market. Held on January 15, 2025, at 10:00 a.m. Israel time, the session attracted over 40 Israeli cosmetics companies eager to understand the opportunities and challenges in one of the world’s most dynamic and competitive markets.
The event featured distinguished speakers, including Ms. Tamar Maron Kosher, Head of the Israel Economic and Trade Office (IETO) in Korea; Ms. Minhui Lee, Director of Business Development at IETO Korea; Mr. Eyal Victor Mamou, CEO of KOISRA; and Ms. Nitzan Paicov, Director of Lifestyle & Consumer Goods at The Israel Export & International Cooperation Institute. Each speaker brought unique perspectives and valuable expertise to the discussion.
Mr. Mamou provided a comprehensive analysis of South Korea’s cosmetics market, covering key aspects such as import and export volumes, dominant product categories, recent changes in sales and distribution structures, shifts in consumer preferences, compliance requirements for cosmetics imports, and recommended market entry strategies—including leveraging e-commerce platforms. He emphasized that while South Korea’s cosmetics market is one of the most challenging to penetrate, it remains highly attractive due to the world’s highest per capita spending on cosmetic products.
The webinar also highlighted the importance of focusing on niche markets and functional cosmetics. Mr. Mamou suggested that Israeli companies looking to gain a foothold in Korea should consider manufacturing partnerships with local firms, given the country’s advanced production facilities and over 4,500 top-quality cosmetics manufacturers.
Ms. Tamar Maron Kosher and Ms. Minhui Lee provided insights into the broader trade relationship between Israel and South Korea, detailing how Israeli companies can capitalize on growing economic ties. They shared practical advice for Israeli businesses looking to adapt their products and marketing strategies to fit the preferences of Korean consumers.
The session also addressed the potential challenges of entering the Korean market, from navigating regulatory compliance to understanding the intricate distribution networks. Despite these hurdles, the speakers underscored the lucrative opportunities available, particularly for innovative and high-quality products that cater to specific consumer needs.
KOISRA’s expertise in business matchmaking and market entry support to Korea was highlighted as a key resource for Israeli companies aiming to expand their presence in South Korea. Their services are tailored to help businesses navigate the complexities of the Korean market, ensuring a smoother entry process. On this matter, Mr. Mamou recommended for cosmetics companies who are looking for quick entry to go via local e-commerce platforms using KOISRA's import and logistics services.