In May, shares of Korean cosmetics companies that produce FDA-approved sunscreen products and materials experienced a significant surge, attributed to the expectation of stricter regulations on sunscreen products in the US. The US government is planning to introduce new guidelines and requirements under the Modernization of Cosmetics Regulation Act of 2022, which has prompted increased investor interest in Korean companies that have already met the FDA standards. Sunjin Beauty Science, Englewood Lab, Cosmecca Korea, and Kolmar Korea were among the companies that saw substantial increases in their stock prices in May, with Sunjin Beauty Science's stock price rising by 112 percent. This positive trend in the stock market is seen as a reflection of the recovering investor sentiment towards the K-beauty industry, which has been bolstered by the diversification of export destinations and improved performance of Korean cosmetics firms. The growth in Korean cosmetics exports is also noteworthy, with a 21.7 percent increase in the first quarter of this year, reaching $2.3 billion. While China remains the top export destination for Korean cosmetics, there has been a significant decrease in reliance on China, with increased exports to the US and Japan. The global interest in Korean sun protection products has been on the rise, particularly in countries like Japan and the US, with the success of Korea's indie sunscreen brands on international online shopping platforms contributing to this trend. However, concerns have been raised about the potential impact of the Modernization of Cosmetics Regulation Act on Korean sunscreen products' success in overseas markets, as companies that fail to meet the FDA requirements could face challenges in maintaining their market share and stock prices, especially in the US sun protection market, which represents almost 20 percent of the global market valued at over $11 billion.