Asian consumers make up about 50 per cent of Blackmores' total sales.
Blackmores says its Korean stumble in 2015-16 was a once-off and caused by factors completely outside its control, after consumer confidence in the broader vitamins and health supplements took a hit in South Korea following a menopause product recall from a rival.Blackmores chief executive Christine Holgate referred to Korea as a "challenging" market in the second half in particular during briefings with investors when Blackmores announced its full-year results in late August.
A big home-grown operator, Korea Ginseng Corp, is the market leader in South Korea with about 20 per cent market share, analysts say.
Still, Blackmores Asia managing director Peter Osborne said things were looking better now. "The market has now moved forward since this event," Mr Osborne said.
"We see good opportunities for the health products market and for our business in Korea."
