It’s no secret that South Korean cosmetics brands are a hot item in the Chinese-speaking world, riding a wave of buzz around Korean products that extends to music, dramas and fried chicken.

But there’s still lots of room to grow, says market researcher Nielsen. In a report published Wednesday, Nielsen found that six of ten consumers in China, Hong Kong, Taiwan and Singapore have only just "discovered" Korean beauty brands in the past two years. Of the respondents who bought Korean beauty brands, 40% were planning...