Walmart eyes K-beauty as cosmetics exports hit record highs

As the global boom in K-beauty continues, Walmart, the world’s largest retailer, has stepped up efforts to explore collaboration opportunities with Korean beauty brands. The Korea Trade-Investment Promotion Agency (KOTRA) said Wednesday that a delegation of 12 Walmart executives, including six vice presidents and purchasing heads, arrived in Korea on Tuesday for business networking and sourcing events in Seoul. The visit came as Korea’s cosmetics exports rose 12.3 percent year over year last year, surpassing $10 billion for the second consecutive year to reach $11.4 billion. Since 2024, Korean cosmetics have ranked No. 1 in the U.S. import market, overtaking French products. Last year, the United States became Korea’s largest export destination for cosmetics. Amid the K-beauty boom, KOTRA approached Walmart to explore broader cooperation, as the retailer views the rapid growth of Korean beauty brands as a potential driver of its own beauty business. With support from KOTRA, Walmart held one-on-one business meetings with 57 Korean companies selected through a comprehensive review ofWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times