S. Korea's cosmetics output tops 6 tln won in 2010

SEOUL, Aug. 29 (Yonhap) -- South Korea's cosmetics production surged 16 percent on-year in 2010 mainly due to strong overseas demand, a government report showed Monday.
Output of makeup products reached 6.01 trillion won (US$5.57 billion) last year, with export growth soaring 43.5 percent to 1.35 trillion won, the report by the Korea Food & Drug Administration (KFDA) said.
"Production growth marks the highest levels reached so far, with overall numbers being fueled by a 31.2 percent hike in exports to China," the administration said.
It said exports to China and other countries were fueled by the spread of the "Korean Wave," also known as "Hallyu," across Asia. The phenomenon refers to the spread of South Korean popular culture, ranging from television shows to pop songs. This has led to a greater demand for locally made products that has contributed to exports in recent years.
The KFDA said production of washing and cleansing products rose 37.3 percent compared to the previous year, followed by bath and shaving-related products. Output of hair products also grew last year.
The report, meanwhile, showed South Korea's cosmetic products accounting for 2.1 percent of the global market. This placed the country as the 12th largest producer of makeup, up one notch from being ranked 13th in 2009.
yonngong@yna.co.kr