Group 1 - The core viewpoint is that while the Korean beauty (K-beauty) market in China is experiencing a downturn, the industry is shifting its focus towards global markets, particularly North America and Japan, where new entrants are gaining market share [1][9] - Established K-beauty companies like LG Household & Health and Amorepacific have seen significant declines in revenue, with LG's earnings halving, while new players like APR are experiencing substantial growth [1][3] - The rise of social media has enabled new K-beauty brands to capture market share from traditional giants, leading to a competitive landscape where established companies face challenges from emerging firms [1][8] Group 2 - Igongigong, a K-beauty startup, has announced plans for an initial public offering (IPO) and aims to complete it by the end of next year, having achieved significant sales growth [2][3] - The company, founded in 2019, focuses on distributing and marketing K-beauty brands in North America, with sales expected to reach 100 billion KRW (approximately 5.17 million RMB) this year, a 2.5-fold increase from last year [5][3] - APR has seen its stock price soar by 200% this year, surpassing the market capitalization of established players LG Household & Health and Amorepacific, becoming the top K-beauty company by market value [5][7] Group 3 - The North American market has become a key growth area for K-beauty, with companies like LG Household & Health and APR reporting significant revenue increases in this region [9][11] - The success of K-beauty brands in North America is attributed to effective marketing strategies, including social media engagement and a focus on ingredient-driven products that resonate with local consumer preferences [14][15] - Brands like KAHI and Medicube have leveraged social media platforms like TikTok to enhance their visibility and sales, with KAHI's multi-functional balm achieving over 5 million units sold globally [22][30] Group 4 - The rise of new K-beauty brands is reshaping the competitive landscape, moving from a monopoly of established players to a more diverse and innovative market [8][35] - These new entrants are characterized by younger leadership, which allows them to connect better with the core consumer demographic and adapt quickly to market trends [7][8] - The combination of ingredient-focused products, social media marketing, and strategic use of platforms like Amazon has proven to be a successful formula for K-beauty brands in overseas markets [30][34]