South Korea's cosmetics exports reached $11.449 billion last year, driven by the popularity of K-beauty. Seaweed, a leading K-food product alongside instant noodles, recorded exports of $1.133 billion. According to calculations by The Hankyoreh using data from the Korea International Trade Association (K-STAT), cosmetics and seaweed accounted for 1.61% and 0.16% of total exports, respectively. The Ministry of Trade, Industry and Energy announced on May 6 that it will expand the existing 15 major export items to 20, the first such reorganization in six years since 2020. Newly added items include electrical equipment (2.4% export share), non-ferrous metals (2.1%), agricultural and fisheries products (1.7%), cosmetics (1.6%), and household goods (1.3%). The 20 major export items accounted for 86.3% of total exports last year, compared to 77.2% for the previous 15 items. The ministry explained, "The expansion was made considering export diversification trends, export volume, and industrial status. This will allow us to provide more detailed information on overall export trends." The ministry also created, merged, and adjusted MTI (Ministry of Trade, Industry and Energy) codes, which are detailed item codes for existing major export items such as semiconductors, automobiles, and batteries. South Korea uses MTI codes, a reclassification of the global HS (Harmonized System) codes tailored to its industrial structure, for export-import statistics. With this code adjustment, semiconductors—a key export item—will now be subdivided into DRAM, NAND, and system categories, whereas previously memory and system semiconductors were grouped under a single "integrated circuit" code. According to the new classification, first-quarter semiconductor exports were $35.79 billion for DRAM, $5.39 billion for NAND, and $12.11 billion for system semiconductors.
For automobiles, which previously mixed vehicle types and powertrains under the same code, the new system categorizes them by vehicle type into internal combustion engine vehicles, hybrid vehicles, and electric vehicles. It further distinguishes between new and used cars to facilitate export trend analysis. For batteries, lithium-ion batteries, previously included under other storage batteries, have been assigned a separate code. Battery materials such as cathode materials, electrolytes, and separators, which were scattered across different codes, have been unified under a new code. The ministry stated that to prevent statistical distortion from the MTI code revision, it will retroactively apply the changes to data from 2022 onward to maintain consistency. Statistics under the new codes will be available on the Korea International Trade Association's export-import statistics system starting June 1.
Source: Read the original report | Published: May 06, 2026