Following the recent principal agreement on the Comprehensive Economic Partnership Agreement (CEPA) between South Korea and Mongolia, South Korean brands, including K-beauty, are gaining significant momentum in penetrating the Mongolian market. This agreement is expected to bring tariff benefits and expand cooperation across various sectors.
In Mongolia, CU already operates approximately 600 stores and GS25 around 300, establishing themselves as essential local lifestyle infrastructure. The expansion of K-retail is further highlighted by E-Mart, which opened its first No Brand specialty store, the largest overseas, on July 10th.
This strong performance of K-beauty is attributed to a combination of factors: high brand recognition, excellent quality at reasonable prices, rapid trend adoption, strong skincare competitiveness, and effective SNS-based marketing.
The '2026 Korea-Mongolia K-Beauty & Culture Festival' is scheduled to be held in Ulaanbaatar this coming August. This event is expected to further contribute to K-beauty's local establishment and foster a foundation for long-term cultural exchange.