The flourishing bread market in South Korea: Is bread the new staple food?
Rice has traditionally been a staple in Korean cuisine for centuries. However, in recent years, there has been a significant shift in consuming bread, reflecting changing dietary preferences and lifestyle trends. This shift has led to the emergence of a vibrant bread market in South Korea, alongside the rice market. Read our Korea’s MZ Generation […]
Gentle Monster: A local eyewear brand goes global with creative luxury experimentation
Established in 2011 by Hankook Kim, Gentle Monster has swiftly ascended as a South Korean brand acclaimed worldwide for its chic eyewear and groundbreaking designs. Featuring surreal, exclusive, and futuristic eyewear, the brand has garnered a diverse array of consumers both domestically and internationally. While originally crafted to cater to Asian facial features, its innovative […]
Decathlon in Korea: varied offerings, strategic store locations, and affordability
Decathlon is a French sporting goods retailer that has found success not only in its home country but also internationally, including in China. It entered Korea’s athleisure market by opening their first 7,800 square meter store in September 2018. It opened their store in Seongdo, a sports city west of Seoul known for its numerous […]
Webtoons market in South Korea: Expanding into Netflix series, games, and beyond
South Korea, renowned for its diverse cultural exports ranging from K-pop and K-dramas to cuisine and beauty products, has another sector gaining global attention: the webtoons market. Webtoons, digital web comics originating from South Korea, have been increasingly popular both domestically and globally. With the digitalization of various industries and the widespread use of smartphones, […]
The hotel industry in South Korea: A haven of experiential delights for locals and visitors
The hotel industry in South Korea has been significantly shaped by the fascination with South Korea’s Hallyu. Initially bolstered by a surge in tourist interest, hotel businesses flourished, only to face a substantial setback following the COVID-19 outbreak, resulting in a sharp decline in revenue from KRW 9.19 trillion in 2019 to KRW 5.98 trillion […]
South Korea’s health functional foods market: becoming daily essentials
Amid South Korea’s aging population and growing health consciousness, health functional foods (건강식품) have significantly influenced the nation’s dietary landscape. Health functional foods (건강식품), as defined by the Ministry of Food and Drug Safety, are dietary supplements containing functional ingredients beneficial or nutritious for the body. These products are witnessing rapid growth as consumers prioritize […]
Generative AI in South Korea: How companies are tapping into the uncertain yet lucrative services frontier
Generative AI, especially OpenAI’s ChatGPT, gained remarkable attention in 2023. GPT-4, a high-capacity language model released in March 2023, exceeded USD 1.6 billion in revenue, indicating a lucrative market attracting globa interest. While OpenAI has initially held a strong market presence, other high-tech companies are beginning to enter the AI market. Read our Korea’s MZ […]
Is there a future for AliExpress and Temu in South Korea?
South Korea stands tall among the top ten e-commerce markets in the world. Joining this dynamic landscape are AliExpress and Temu, relatively new e-commerce entities stemming from Alibaba Group Holding and Pinduoduo (PPD), respectively—two of China’s largest e-commerce companies. These platforms aggregate small businesses in China, providing them with opportunities to reach international e-commerce markets […]
Exploring South Korea’s fragmented e-commerce platforms landscape
South Korea’s e-commerce landscape, expected to reach USD 160.4 billion by 2027, has firmly established itself as a robust platform facilitating transactions across diverse sectors and platforms. With the advancement of e-commerce and logistics infrastructure, delivery services have significantly improved in speed and efficiency. Notably, South Korea’s delivery and logistics companies rank seventh globally. Companies […]
Jewelry market in Korea: “good” jewelry is trendy, simple, and affordable
The jewelry market in Korea is a thriving and essential part of the fashion landscape. Whether for work or special events, jewelry is a must-have accessory, contributing to the country’s reputation for being home to one of the world’s largest jewelry markets. In 2023, the overall revenue in the Korean jewelry market reached an impressive […]
Valentine’s Day in Korea: Celebrating love the Korean way
Valentine’s Day holds a significant place among the numerous romantic occasions celebrated in Korea. Although it falls on February 14th like in many other countries, it’s typically a day for women to give gifts to men, not the other way around. However, when it comes to celebrating, it’s a time for couples to come together […]
How Seollal shopping in South Korea is becoming more diversified
Seollal (설날) is one of the most important traditional celebrations in Korea. While it is still a family-centered holiday, it is slowly shifting away from family and diversifying into a day to celebrate with friends, romantic partners, and oneself. As a result, Seollal shopping consumption patterns, are changing, notably when it comes to gifting. Read […]