Walmart eyes K-beauty as cosmetics exports hit record highs

Officials from the Korea Trade-Investment Promotion Agency (KOTRA), left, and Walmart discuss ways to expand Korean consumer goods in the United States at the agency’s headquarters in Seoul, Tuesday. Courtesy of KOTRA

As the global boom in K-beauty continues, Walmart, the world’s largest retailer, has stepped up efforts to explore collaboration opportunities with Korean beauty brands.

The Korea Trade-Investment Promotion Agency (KOTRA) said Wednesday that a delegation of 12 Walmart executives, including six vice presidents and purchasing heads, arrived in Korea on Tuesday for business networking and sourcing events in Seoul.

The visit came as Korea’s cosmetics exports rose 12.3 percent year over year last year, surpassing $10 billion for the second consecutive year to reach $11.4 billion.

Since 2024, Korean cosmetics have ranked No. 1 in the U.S. import market, overtaking French products. Last year, the United States became Korea’s largest export destination for cosmetics.

Amid the K-beauty boom, KOTRA approached Walmart to explore broader cooperation, as the retailer views the rapid growth of Korean beauty brands as a potential driver of its own beauty business.

With support from KOTRA, Walmart held one-on-one business meetings with 57 Korean companies selected through a comprehensive review of their products and profiles. About 12 delegations, including key executives and decision-makers from Walmart’s major business units, participated in the meeting, underscoring strong interest in Korean consumer goods.

Walmart plans to first test consumer reaction online before introducing the products for offline sales.

Building on this round of consultations, the agency plans to establish a long-term cooperation framework with Walmart for the expansion of Korean brands into its network. The two sides agreed to develop a systematic support model that leverages online marketplace performance to supply products to Walmart’s offline stores throughout the U.S.

“K-beauty products are becoming part of everyday life for consumers in the U.S., which is the world’s largest market,” KOTRA CEO Kang Kyung-sung said.

“We will actively support Korean companies in expanding their footprint in the U.S. by partnering with major distributors, such as Walmart and leveraging their global sales networks to boost exports.”