One of the companies responsible for taking those beauty innovations beyond South Korea`s borders is Amorepacific, which counts brands such as Sulwhasoo, Laneige, Innisfree and Etude House among its portfolio.
Suh Kyung-Bae, the company`s chairman and CEO, now has his sights set on global expansion.
"Our company is operating in the Korean market, the Chinese market and the ASEAN market. market will be our fourth pillar for our business, so we are very much committed to developing the U. market," Suh told CNBC`s "Managing Asia."
China was one of the markets Suh spearheaded the push into. The world`s second largest economy is currently a major market for Amorepacific, amounting for around 20 percent of the company`s sales.
Part of the secret of breaking into the lucrative market involved paying attention to the tastes of Chinese consumers.
"The Chinese customers are quite concerned about the dryness of their skin, so we developed a sleeping mask for these customers. We studied which color tones, shades and beauty routines most interest them," Suh explained.
"In China, there are many dynamic young people who are busy trying to build a career for themselves, so their main concern was how to effectively put on cosmetics in the most convenient way, in the shortest period of time.
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