SEOUL, June 29 (AJP) -South Korea is stepping up support for K-beauty companies seeking to enter Saudi Arabia, betting the kingdom's rapidly expanding consumer market will become the industry's next major growth engine as Korean cosmetics exports continue to break records.
The Ministry of SMEs and Startups said Monday it will launch a new program to help small and medium-sized cosmetics companies expand into Saudi Arabia, one of the Middle East's fastest-growing beauty markets, as Seoul seeks to diversify export destinations beyond its traditional markets.
Applications will be accepted through July 23 from Korean cosmetics manufacturers and authorized distributors.
Selected companies will receive support to meet Saudi retailers and government agencies, secure shelf space in online and offline stores, promote their products and receive consultations on local regulations.
The initiative will be carried out jointly with the South Korean Embassy in Saudi Arabia and more than 20 Saudi distributors and retailers, including Whites, one of the kingdom's largest beauty and wellness retail chains.
Following the application process, Saudi buyers will travel to South Korea to evaluate applicants through document screening and interviews before selecting participating brands.
The ministry said Saudi Arabia has become an increasingly attractive destination for Korean cosmetics as the kingdom presses ahead with its Vision 2030 economic diversification strategy.
The reforms have expanded women's participation in the workforce, opened more sectors of the economy and encouraged higher consumer spending, fueling demand for beauty and personal care products. Female labor-force participation has more than doubled over the past decade, exceeding the government's original Vision 2030 target.
Despite the growing interest, many smaller Korean brands have struggled to enter the Saudi market because of limited local business networks and complex regulatory requirements, the ministry said.
"K-beauty remains South Korea's leading export category among SME products, but securing new customers and diversifying export destinations are essential to sustaining growth," Shim Jae-yoon, director general for global growth policy at the ministry, said in a statement.
"We hope this initiative will serve as a stepping stone for expanding the K-beauty boom across the broader Middle East."
South Korean Ambassador to Saudi Arabia Kang Shin-chul said rising Saudi interest in Korean cosmetics reflects demand not only for beauty products but also for the healthy and confident lifestyle associated with Korean culture.
The ministry and the embassy will hold a briefing in Seoul on July 2 to explain Saudi market trends, application procedures and program details.
The latest initiative comes as Korean cosmetics have emerged as one of the country's fastest-growing export industries.
South Korea exported a record $11.37 billion worth of cosmetics in 2025, with small and medium-sized companies accounting for $8.32 billion, or 73 percent of the total. Industry estimates project exports could reach $15 billion within the next few years, supported by annual growth of around 11 to 13 percent across major overseas markets.
K-beauty has continued to gain recognition abroad. In April, The New York Times included Torriden's Dive-In Serum and Hanyul's Red Rice Hydrating Serum among its five best hydrating serums.
Retail expansion has also accelerated. Olive Young recently opened its first U.S. store in Pasadena, near Los Angeles, followed by a second outlet in Los Angeles. Shoppers lined up for four city blocks on opening day in Pasadena, while about 300 customers were waiting before the doors opened at the second location.
The ministry has designated K-beauty as one of its strategic export industries and has expanded support for overseas sales through both online and offline channels.
Minister Han Sung-sook has made K-beauty exports a priority since taking office last year, visiting cosmetics distributor Silicon2 shortly after assuming office, announcing measures to expand online exports in November and hosting the "K-Beauty Glow Week in Shanghai" promotion during last month's South Korea-China summit to showcase smaller Korean brands.
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