SMEs ministry partners with Brazilian firms to expand K-beauty exports

The SMEs ministry said Tuesday it held talks with key Brazilian organizations to accelerate the entry of small and medium-sized K-beauty companies into the South American market, citing surging demand driven by the global popularity of K-pop and K-dramas as the primary driver for the push.

Officials visited the Brazilian Cosmetics Industry Association, known as ABIHPEC, whose members account for more than 90 percent of total cosmetics sales in the country. The two sides agreed to build networks for information exchange, cooperate on responding to export regulations, and pursue joint research projects combining Brazilian raw materials with Korean manufacturing technology.

The ministry also met with Mercado Libre, Latin America's largest e-commerce platform, to arrange financial and technical support for Korean brands listing products on the site. Under the agreement, the platform will visit South Korea to hold consultation meetings with promising K-beauty labels.

Cosmetics, the top export item for local small businesses, pushed total sector exports past $60 billion in the first half of 2026.

Noh Yong-seok, the first vice minister of the SMEs ministry, emphasized the need to strengthen the entire beauty industry ecosystem to achieve global leadership. "To leapfrog from current growth trends to becoming the global number one, we must fortify the beauty industry ecosystem and reinforce efforts to diversify export markets," he said.