Global Market Dynamics of Korean Cosmetics: Network Analysis of International Trade

Abstract

As the global market for cosmetic products continues to expand, South Korea serves as a leader among countries in the cosmetics industry. The purpose of this study is to define the global patterns of the international trade of cosmetic products from the perspective of network analysis. Its design examines South Korea’s centralities within the international network of cosmetic products trade. This study analyzed the international trade of cosmetic products using network analysis. Countries are nodes and trade flows are network links. For comparison, global trade data (i.e., beauty, make-up, skin care, and manicure) in 2006 and 2016 were collected and used for analysis. UCINET and NetDraw software were used for analyzing networks. According to countries in the network, in/out degree, eigenvector centrality and betweenness centrality were calculated. As result, south Korea’s world export value accounted for 16th place in 2006, and it rose to third place in 2016. However, Korea’s influence on the network overall remained about the same in terms of eigenvector centrality in 2006 and 2016. From the perspective of Korean cosmetic products, this study offered dynamic perspectives for analyzing international trade using network analysis.