South Korea’s beauty sector recorded 29 mergers and acquisitions in 2025 worth KRW 3.59 trillion, or about $2.59 billion, setting a record for the industry. According to MMP data cited in the source material, that surpassed the previous high from 2017, when total deal value reached about $2.39 billion.
Larger Deals Reshape the Sector
One of the biggest transactions was KKR’s acquisition of cosmetics packaging company Samhwa at a valuation of KRW 733 billion, or about $528 million. The deal showed that investor interest is moving beyond finished beauty brands into supply-chain assets tied to K-beauty’s international growth.
The market has also seen more consolidation among domestic beauty players. Gudae Global, the company behind Beauty of Joseon, expanded through a series of acquisitions, including Tirtir, Skin1004, Skinfood, and Round Lab, helping push annual revenue to KRW 1.47 trillion, or about $1.06 billion.
Exports Support Investment Case
The deal surge has been supported by export momentum. Data from the Ministry of SMEs and Startups showed cosmetics exports by small and medium-sized enterprises reached a record $8.32 billion in 2025, while the number of exporters rose above 10,000 for the first time.
First-quarter exports also reached $2.18 billion, the highest level recorded for that period. For Dewsia readers, the significance is structural: K-beauty is increasingly being treated as an investable industry platform, not only a brand story.
