HONG KONG — Like many of her classmates, Xie Roumei, a 28-year-old accountant from China’s Fujian province, started using Korean cosmetics in high school — a preference she carried into her 20s. Most of the eye makeup and beauty products she uses are still Korean, Xie said. Such loyalty has helped turn the country’s cosmetics industry into a global powerhouse, with exports rivaling those of semiconductors and cars. Fueled by the global appeal of K-pop, K-dramas and the “glass skin” ideal, the industry has logged record growth in recent years, making Korea the world’s second-largest cosmetics exporter behind France. But it may still be too early to pop the champagne. Recent data and analysis suggest that China is quietly expanding its own footprint in global markets, supported by strong domestic demand in the sector and a more aggressive push overseas. According to customs data, China’s cosmetics exports totaled $3.99 billion in the first 11 months of 2025, an 8.7 percent increase from a year earlier. That still trailed Korea, whose exports reached a record $10.3 billion ov