From as early as 1940, South Korea has proven to be one of the fastest growing economies in the world. K-beauty companies such as Saengreen which was established during the year of 1987 paved the way for what is today’s phenomenon. The term K-beauty is an umbrella word for skin care products for both men and women coming from South Korea.
One would be pleased and excited to know that 80% of the global skincare revenue has come from Asia- with K-beauty playing a huge role. The k-beauty product market size in the year 2018 was equivalent to $9.3 Billion- with experts suggesting that the amount should go up to $21.8 Billion by the year 2026.
What is unique about K-beauty? Some may ask!
- The ingredients utilized (Bee venom, snail mucin, pig collagen, horse oil, royal honey, donkey milk, placenta just to name some.
- Appealing packaging ( interesting shapes, bright colors, nonsensical names)
K-beauty products include hair care, cosmetics, and skin care but not limited to the mentioned. K-beauty also includes spa +wellness products, personal care, organic and natural health and more.
Sheet masks, cleansers, moisturizers, make-up, toners and more comprise of the leading K-beauty selections. The mentioned products and more can be found in these local South African stores online: Superbalist, Your beauty box, Luxe Loft, Kawai Karu Kosmetics, Glow Theory, My Coco, Beautique SA and Seoul of Tokyo.
The great demand for high priced premium cosmetics is due to the rise of income levels, resulting in the growth of K-beauty products worldwide- South Africa included. In the U.S- one of the largest retailers Target launched a K-beauty section along with Wal-Mart, if this does not speak growth and volume, then what does?
Korea along with the rest of Asia has a rich history and culture of food. Food plays an important role in health, nutrition, lifestyle and taste. With more people travelling in an out of Korea- the amalgamation of Korean food to the outside world has taken place.
The food culture is alive and real in Korea, and the mission is to create the awareness and growth similar to K-beauty worldwide.
Rice is the Korean primary dish which is eaten with different dishes called (banchan). Korean barbeque is also very important. Below is a list of Korean food that is enjoyed in Korea and now all over the world- including South Africa.
- Kimchi (fermented spicy cabbage with amazing health benefits) https://www.seoul.com.sg/amazing-health-benefits-of-kimchi/)
- Tteokbokki (Rice cakes)
- Ramen (Spicy Noodles)
- Rice Dishes (https://theculturetrip.com/asia/south-korea/articles/14-mouth-watering-south-korean-foods-to-try/)
- Jjigae (Korean Stew)
- Gochujang (Red Chilli Paste)
- Meokbang (An eating show with an online audiovisual broadcast where large dishes are consumed while engaging with the audience. This is a popular trend that originated in Korea during the year of 2010- it has now influenced the rest of the world to follow this trend- including South Africa! Videos on YouTube can be found of this Korean food entertainment)
***Please note that Korea has a lot of dishes, snacks and drinks, the above mentioned are just a few to note.
Korea is also one of the countries in Asia that are known for its innovative technology and creativity. Some of the biggest brands such as Samsung, LG, KIA, Hyundai, Doosan and so much more come from Korea. The lifestyle portion of this event will consist of different products that do not fall into the K-beauty or food sector (similar to what one would find on the Onedayonly shopping app).
Kotra is excited to host this virtual online shopping experience along with the listed online stores!