K-cosmetics production, shipments hit record highs, ranking S. Korea third largest exporter

Korea's cosmetic production and exports hit new highs last year soaring over 20 percent on year.

According to the Drug Safety Ministry on this Tuesday shipments overseas amounted to 10-point-2 billion U.S. dollars raising Korea's ranking to third place for exports of cosmetics right after France and the U.S. respectively.

Korea outperformed Germany which previously ranked third.