Women’s Makeup is a Very Good Business.  Kiko is having success with its men’s line.  Is there an opportunity here?

It’s a trend that clashes with Western ideas about masculinity and gender, but Korean men are spending a ton of money on cosmetics products in order to improve their skin and appearance.

South Korean men are the world’s top per-capita consumers of skincare products, with four times the purchases of runner-up Denmark, according to Euromonitor. The grooming industry is worth more than $1 billion, with projected growth of nearly 50% over the next five years.

Korean men are not just buying aftershave and lotion, either. Demand is increasing for anti-aging products, masks and mists.

Alex Taek-Gwang Lee, a cultural analyst at Kyunghee University, said that men are using more cosmetics because in South Korea, appearance is everything.

“We have a proverb,” Lee said. “If you buy something, you must choose the one which has a good appearance.”

In South Korea’s ultra-competitive society, he said that kind of decision-making also applies to people. When employers are looking to hire, for example, many of the candidates will have come from excellent universities and have similar qualifications.

One thing that can set a candidate apart is their appearance.

“If you want to have a higher salary, you must do the best for your human capital,” he explained.

Chris Hong, an business executive about to hit the big 4-0 this year, is the industry’s ideal customer. His regimen includes twice-yearly Botox injections, as well as laser treatments to smooth out imperfections on his face.

Hong freely admits that he spends more time, money and effort on beauty than his wife.

“Whenever you do more grooming you feel better,” Hong said. “I don’t want to be looked at as older.”