L2 Digital IQ Index
With average growth of 9 percent year-on-year since 2008, the Korean Skin Care and Cosmetics industry remains a beacon in the Asian market. The Beauty industry in South Korea is highly concentrated, with half of the market controlled by AmorePacific Corp. and LG Household & Health Care. These domestic players outmaneuver their global rivals with product and packaging innovation and creative use of Korean celebrities to drive awareness and relevance. This local advantage extends online—AmorePacific averages the highest Digital IQ of all conglomerates, and local brands captured seven of the top 10 spots in the Korean Beauty Digital IQ Index.