THAAD may affect ROK cosmetics exports to China

By Gong Jie
0 Comment(s)Print E-mail China.org.cn, February 23, 2017
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Due to their growing popularity, the total exported volume of South Korean cosmetics has increased sharply recently, reaching nearly US$4.35 billion in 2016, a 43.7 percent increase year on year. The exported volume of South Korean cosmetics to China increased continuously and accounted for nearly 40 percent of total exported volume.

On the contrary, its total volume of imported cosmetics reached US$1.43 billion in 2016, a 2.58 percent increase than that in the previous year. Its trade surplus in cosmetics hit US$2.75 billion in 2016.

China is the biggest destination for exported South Korean cosmetics, and the South Korean media is worried about the possible influence to its cosmetics industry due to escalating tensions between Seoul and Beijing over the former's decision to deploy the U.S. Terminal High Altitude Area Defense anti-ballistic missile system in ROK.

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