Korean Men's Spending on Cosmetics Rose 12% in Four Years
Korea's men's cosmetics market has grown from KRW 1.07 trillion in 2020 to roughly KRW 1.2 trillion in 2024. At Olive Young, sales of men's grooming products purchased directly by male members rose about 40% year-on-year as of the end of June this year, across some 1,800 product lines.
At a glance: Around 110 "global tourist district" flagship stores nationwide, including Olive Young's Myeongdong Town branch, staffed with English-, Japanese- and Chinese-speaking employees · Foreign shoppers with a passport get an instant tax deduction on purchases over KRW 15,000 (some hygiene items excluded)
Olive Young separately manages about 110 stores in areas frequented by foreign visitors, such as Myeongdong, Hongdae and Gangnam in Seoul, staffing them with employees who speak English, Japanese and Chinese. Industry data suggests nine out of ten foreign shoppers buying cosmetics in Korea shop at Olive Young.
Male travelers might look at product categories built around fewer steps, such as cushion sunscreens or all-in-one skincare — categories domestic brands have expanded recently to target male consumers.
With a passport, purchases over KRW 15,000 can be settled instantly at the tax-excluded price, skipping the process of collecting receipts for a refund at the airport. Some hygiene items or shopping bags may be excluded from the refund, so it's worth checking at the register.