K-beauty’s China retreat boosts Amorepacific and LG H&H profits

K-beauty giants are pivoting away from China and toward other global markets. Amorepacific and LG Household & Health Care (LG H&H) have posted double-digit profit gains for the second quarter of 2026, lifted by surging North American and European sales. Retail partnerships and regulatory openings are reinforcing the push — signaling that K-beauty’s global ambitions are still growing. 

The overseas growth reflected in Amorepacific and LG H&H’s latest earnings is not happening in a vacuum. In a coordinated wave of market debuts, multiple K-beauty brands and retailers are planting their flags deeper into the US through partnerships with Ulta Beauty and Sephora. K-beauty curator Olive Young, for example, is planning to roll out almost 20 new brands to Sephora shelves.

However, as the US market becomes increasingly crowded and China’s growth engines appear to be slowing down, Korean companies are turning to emerging markets to fortify global footholds.

Personal Care Insights takes a deeper look at K-beauty’s shifting geography, where industry players are betting their stakes, and which markets are poised to win.

US K-beauty demand overthrows China

For Q2 2026, Amorepacific Group reported a 14.6% revenue increase to ₩1.25 trillion (US$881.8 million), and a 53.3% jump in operating profit to ₩122.8 billion (US$86.6 million). The group’s main affiliate, Amorepacific, saw operating profit climb by 59%. 

The company attributes the bulk of that growth to overseas operations, where operating profit nearly doubled to ₩71.8 billion (US$50.7 million) — outpacing the 48% growth recorded back at home.

Amorepacific’s sales across the US, Europe, and Japan drove the gains, while China’s revenue continued to decline.

Meanwhile, LG H&H delivered even sharper profit growth. The company’s operating profit climbed 87.5% to ₩102.8 billion (US$72.5 million) compared to last year, on revenue of ₩1.66 trillion (US$1.17 billion).

K-beauty brands are expanding their reach across markets outside China.The beauty division drove the performance, with ₩818.4 billion (US$577.3 million) in revenue and an operating profit of ₩44.4 billion (US$31.3 million). According to LG H&H, its pivot came from North America, where revenue jumped 47.3% to ₩205.8 billion (US$145.2 million). 

The figure reportedly marks the first time in the company’s history that North America overshadows China, which recorded ₩176 billion (US$124.2 million).

Both companies are reaping the rewards of their respective multi-year rebalancing strategies. Amorepacific slashed its China exposure from 54% in 2019 to 23% by 2024.

US retail fortifies stay 

K-beauty is pushing further into North America, with a slew of retail expansions set to back its reach. The most significant move comes from CJ Olive Young, Korea’s leading beauty and health retailer. Later this month, the company is launching a curated selection of 19 K-beauty brands at over 500 Sephora stores and on its website.

The assortment features brands like Abib, Torriden, Banila Co, Manyo, and Rejuran Cosmetics. Olive Young says it selected the lineup based on proven performance, consumer popularity, and what is trending in Korea. 

“By combining Olive Young’s merchandising expertise and trend-driven curation with Sephora’s exceptional global retail platform and client experience, this partnership will make the very best of Korean beauty more accessible than ever before,” says Do-young Kim, executive VP of US Merchandising at Olive Young.

As part of the company’s rollout, it will also get a dedicated Olive Young K-beauty section at Sephora’s flagship location in Times Square, New York, US.

Major US beauty retailers are expanding their K-beauty assortments as consumer demand grows.Looking past the Big Apple, Olive Young plans to expand its partnership with Sephora for these dedicated zones across Hong Kong, Singapore, Malaysia, Thailand, and later the Middle East, UK, and Australia in 2027.

Alongside beauty giants and their mass-market plays, individual K-beauty brands are also making their US debuts through retail partnerships. Jungsaemmool Beauty, a celebrity-founded makeup and “glass skin” brand, will hop on Sephora shelves near the end of the month.

Meanwhile, Dr. Reju-All, a K-pharmacy skin care brand developed by pharmacists and dermatologists, yesterday launched in select Ulta Beauty stores and online.

Together, the moves indicate that consumers are actively seeking out Korean beauty, and major domestic US retailers are racing to meet that demand. 

“Our guests are highly engaged in discovering the global beauty trends, innovations, and brands shaping the future of their routines, and K-beauty continues to be an important source of inspiration,” says Penny Coy, senior VP of Merchandising at Ulta Beauty.

Open-armed trade borders?

With the US extending its welcome to more K-beauty brands, Korean companies are increasingly eyeing growth engines in less crowded markets. Brazil has emerged as a focus point, with numbers pointing to the reason why. Korean cosmetics exports to Brazil jumped 86.4% year-on-year to US$43.4 million in the first half of 2026, according to the Korea International Trade Association.

Jungsaemmool Beauty is expanding its US retail footprint with its Sephora debut.The ranking lifts Brazil from 33rd to 28th in exports, and the country is responding by easing regulatory barriers for Korean cosmetics.

In February, South Korea’s Ministry of Food and Drug Safety and Brazil’s National Health Surveillance Agency signed a memorandum of understanding to strengthen regulatory cooperation between the two countries.

Alongside Brazil, Personal Care Insights previously reported on the uptick of K-beauty brands making a play for India. Innova Market Insights’ project lead for Beauty Personal Care & Household division told us that there is a high demand for Korean cosmetics in India, particularly as the country undergoes an online-driven beauty boom. 

“India offers a high-growth potential for K-beauty expansion, which has not been penetrated yet but has strong capabilities of online expansion through e-commerce and quick-commerce channels,” she told us.