Mark-up on beauty imports slammed in South Korea
Imported cosmetics sold in South Korea can be 6.5 times higher than their duty-added import prices
Some imported cosmetics are sold in South Korea up to 6.5 times higher than their duty-added import prices, according to a Ministry of Food and Drug Safety report.
For example, the retail price of SK-II’s Facial Treatment Essence in Korea is South Korean Won (KRW)199,000, although its duty-added import price is KRW51,000, according to the report. In another instance, Korean consumers buying Emulsion Ecologique by the French brand Sisley pay KRW220,000, which is nearly four times the duty-added price of KRW56,826.
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