The number of Japanese and Chinese tourists visiting Korea has been increasing rapidly and cosmetics is one of the most popular shopping items for tourists. The purpose of this study was to examine factors affecting the cosmetic purchase of Japanese and Chinese female tourists in Korea and compare their purchase behaviors. Questionnaires were collected from December 12, 2010 to February 15, 2011 from the tourists visiting Myeongdong and duty free shops in Seoul. 126 responses from Japanese and 163 from Chinese tourists were used in the final analysis. There were significant differences in many aspects between the two groups. Chinese tourists were satisfied with Korean cosmetics more and found them to be more favorable, and were more active in information searches than Japanese tourists except in a few aspects. Hallyu (Korean wave) had a powerful influence on Korean cosmetics purchase behavior for both Japanese and Chinese tourists, but its effect was stronger among Chinese tourists.