S. Korea's SMEs' online exports hit record high in Q1 on strong cosmetics demand

SEOUL, May 14 (Yonhap) -- Exports by South Korea's small and midsized enterprises (SMEs) through online channels reached an all-time high in the first quarter of this year, driven by strong global demand for cosmetic products, government data showed Thursday. Online exports by SMEs totaled US$300 million in the January-March period, up 38.2 percent from a year earlier, setting a new quarterly record, according to data from the Ministry of SMEs and Startups. The figure had remained around $220 million in the first quarter of both 2024 and 2025 before surging past the $300 million mark for the first time this year. Notably, cosmetics exports jumped 74.2 percent on-year to a record $200 million in the first quarter, as Korean-made skincare and beauty products gained popularity worldwide. The ministry said the continued global popularity of K-beauty, along with policy measures announced last year to support the domestic beauty industry, contributed to the strong export growth. "Online markets are an area where SMEs have strong competitiveness, and the effects of government policy support are leading to tangible overseas expansion results for domestic companies," said Shim Jae-yoon, an official at the Ministry of SMEs and Startups.