Korean Beauty Companies Target Mexico as Their Next Latin American Growth Market
Amorepacific and LG Household & Health Care are stepping up their push into Mexico, where strong demand for Korean cosmetics is colliding with higher tariffs and distribution challenges.
South Korea’s leading beauty companies are accelerating their expansion into Mexico, positioning the country as a strategic base for broader growth across Latin America despite higher import tariffs and complex distribution conditions.
The push was on display at the 2026 K-Expo Mexico in Mexico City, a four-day trade event attended by President Lee Jae Myung during his state visit. Amorepacific showcased an artificial intelligence-powered skin diagnostic device, while LG Household & Health Care presented products including a hair-loss treatment.
Amorepacific CEO Kim Seung-hwan said the company aims to increase its business in Mexico more than tenfold within five years. The ambition reflects the country’s scale and growth potential: Mexico is Latin America’s second-largest beauty market after Brazil, and market research firm Mordor Intelligence expects its value to rise from $17.64 billion this year to $22.36 billion by 2031.
Korean cosmetics are already gaining ground across the region. Korea Customs Service data showed that exports to Latin America exceeded $200 million for the first time last year. Shipments reached $168.06 million in the first half of this year alone, indicating that the market is becoming increasingly important to an industry that has built strong demand in North America.
LG Household & Health Care said its expo booth attracted about 5,000 visitors per day. The company is treating Mexico as a hub for its Latin American business and plans to use lessons from the market to support expansion into Brazil and other countries. It also intends to strengthen sales through Mercado Libre, the region’s leading e-commerce platform.
Other Korean companies are widening their local reach. Beauty distributor Silicon2 has operated its Mexican subsidiary at full capacity since June, while Amorepacific and APR have placed their brands in major retailers including Sephora and Ulta Beauty.
The growth opportunity comes with a significant trade obstacle. Mexico raised duties this year on imports from countries without a free trade agreement, including South Korea, leaving cosmetics subject to tariffs of roughly 25 percent. Kim told Lee that the rate had increased by about 10 percentage points, adding to the burden on Korean exporters. Companies said they were not currently considering price increases, but acknowledged that higher costs affect the industry broadly.
Lee said a bilateral trade agreement could lift economic cooperation between the two countries, whose industrial structures he described as complementary. Seoul and Mexico City agreed to begin a joint feasibility study, an initial step that could lead to formal negotiations. For Korean beauty groups, progress on trade rules could determine how quickly Mexico develops from a promising sales market into a durable regional platform.