Seoul: Exports by South Korea's small and midsized enterprises (SMEs) through online channels reached an all-time high in the first quarter of this year, driven by strong global demand for cosmetic products, government data showed Thursday.
According to Yonhap News Agency, online exports by SMEs totaled US$300 million in the January-March period, marking a 38.2 percent increase from the previous year. This unprecedented growth set a new quarterly record, as revealed by data from the Ministry of SMEs and Startups.
The figure had hovered around $220 million in the first quarter of both 2024 and 2025 before it surged past the $300 million mark for the first time this year. This significant uptick is largely attributed to the burgeoning global demand for Korean-made cosmetics.
Cosmetics exports notably jumped 74.2 percent on-year, reaching a record $200 million in the first quarter. The rise is attributed to the increasing global appeal of Korean skincare and beauty products.
The Ministry of SMEs and Startups highlighted the sustained international popularity of K-beauty as a crucial factor, alongside policy measures introduced last year to bolster the domestic beauty industry, which have collectively driven the robust export growth.
"Online markets are an area where SMEs have strong competitiveness, and the effects of government policy support are leading to tangible overseas expansion results for domestic companies," stated Shim Jae-yoon, an official at the Ministry of SMEs and Startups.