"Fostering New Export Engines"—Expanding Exports of Hallyu-Linked K-Consumer Goods

[Financial News] The government has announced plans to unveil measures within the year to expand exports of Hallyu-linked K-Consumer Goods as a new growth engine for exports.
On the 12th, Yeo Han-koo, head of Trade Negotiations, visited the Musinsa Standard Seongsu Branch in Seongdong-gu, Seoul to review the current status of K-fashion exports. He also held a roundtable with distribution companies such as MUSINSA, Delivered Korea, Coupang, CJ Olive Young Corporation, and Kurly Inc., listening to industry challenges and discussing strategies to expand K-Consumer Goods exports.
This field visit and roundtable were organized to explore ways to expand consumer goods exports through distribution platforms with proven capabilities and experience, as exports of K-Consumer Goods continue to rise alongside the global spread of K-Culture.
The government plans to strengthen support to foster Hallyu-linked K-Consumer Goods as a new export engine. First, it will enhance Hallyu-linked marketing support to promote the premiumization of K-Consumer Goods.
The government will expand promotional opportunities in connection with major events such as the Korea Brand & Entertainment Expo (KBEE) and K-pop concerts. Support methods will also be improved so that leading distribution platform companies can take the initiative in planning according to market trends.
Additionally, the government will address challenges faced by export companies, such as logistics, certification, and intellectual property rights. In collaboration with the Korea Trade-Investment Promotion Agency (KOTRA), it will provide tailored logistics infrastructure suited to the characteristics of consumer goods and expand consulting and information on various overseas certifications, including halal.
Plans are also in place to vitalize online platforms such as cross-border e-commerce. The government will actively support the establishment and promotion of global malls, connect with local logistics partners, and assist with customs clearance and certification to help domestic distribution companies grow into global platforms.
Yeo Han-koo stated, "Our distribution platforms serve as a vital bridge connecting overseas consumers with K-Consumer Goods. As capable domestic distribution companies expand abroad, products from our small and medium-sized enterprises are reaching global consumers more closely." He added, "To create new growth engines for K-exports, we plan to announce measures to expand exports of Hallyu-linked K-Consumer Goods within the year, reflecting the discussions held."

aber@fnnews.com Park Ji-young Reporter