Photographer: Woohae CHO/The Washington Post/Getty Images

Fancy Face Cream, South Korea's Next Economic Engine

Every week, hosts Dan Moss, Kate Smith and Scott Lanman bring you a jargon-free dive into the stories that drive the global economy.

This week the Benchmark team takes a look at one of South Korea’s most promising new exports: beauty products. Seoul is pivoting away from the country’s reliance on government-sponsored companies like Samsung and LG and instead attempting to capitalize on its multi-generation tradition of expensive, multi-step skincare regimens. Women - and men - around the world are buying into the trend, helping overseas beauty sales for Korean beauty products to rise 73 last year. Co-hosts Kate Smith and Scott Lanman are joined by Nina Bahadur, a senior editor at Conde Nast's SELF.com, and Alicia Yoon, founder of the cult K-beauty e-commerce company Peach and Lily, to see just how much fancy face creams are helping South Korea’s economy.

SoundCloud: 51: Fancy Face Cream, South Korea's Next Economic Engine by Bloomberg

 

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