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In focus
- The C- vs. K-beauty war escalates
- DBS hikes custodian fees, piling pressure on fintech firms
- Is China training AI models on the US’ dime?
Hello reader,
For years, South Korean beauty products – known as K-beauty – have held a vice-like grip on Southeast Asian consumers. Now, it’s facing a formidable competitor: C-beauty.
As Nai Lun from The Business Times finds, the disruption by Chinese beauty brands and products is being fueled by digital-first marketing, rock-bottom prices, and an aesthetic shift popularized by TikTok and its Chinese counterpart, Douyin.
And while K-beauty brands bank on established trust – as well as the strong products they’ve consistently delivered, if K-pop stars are any indication – C-beauty players like Judydoll and Joocyee are leveraging China’s manufacturing hubs to compete.
Of course, there are still some headwinds for C-beauty. A big one is trust, as lingering consumer perceptions hold that “made in China” cosmetics lack the stringent safety standards of Japanese or Korean equivalents.
But judging by the numbers, the tailwinds seem to be stronger.
Speaking of headwinds, some fintech companies in Singapore could soon face increased fees for DBS’ custodian services. An industry player, speaking to my colleague Melissa, even called the move a step “away from international standards.”
Prepare for some shake-ups in the beauty and fintech industries.
Miguel Cordon, journalist
Top Stories
1️⃣ Makeup war unfolds in SEA as China takes on South Korea’s throne

Joy Group, the Chinese company behind beauty brands Judydoll and Joocyee, recorded US$43.4 million in retail sales from Southeast Asia in 2025.
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