Korea Consumer Goods Exports to China Rebound
South Korean consumer goods exports to the Chinese market have rebounded for the first time in three years, raising expectations for an annual performance recovery. Driven by steep growth in the fashion and food sectors, the export value of consumer goods to China in the first half of this year reac
South Korean consumer goods exports to China have seen a significant rebound, marking the first increase in three years. This surge in exports is attributed to a strong performance in the fashion and food sectors, with fashion apparel experiencing a substantial 33.4% growth and food items increasing by 17.7%. The cosmetics sector also made a positive turnaround, registering a 23.8% increase year-on-year.
The export value to China reached $3.44 billion in the first half of the year, an 8.7% increase compared to the same period last year.
The Ministry of Trade, Industry and Energy convened a review meeting on August 21 to address the downward trend of exports to China, which had fallen after peaking at $9.3 billion in 2021. The meeting aimed to strengthen performance management in the upcoming half of the year. The growth in export value was observed across various regions in China, with particular surges in Hubei Province (378%), Liaoning Province (69%), Hainan Province (62%), and Beijing Municipality (46%).
To sustain this positive trend, the government plans to implement marketing strategies that reflect the latest local trends. This includes expanding live commerce broadcasts on platforms like TikTok (Douyin) and Xiaohongshu, as well as opening K-consumer goods pop-up stores in major cities to provide more offline experiences. Additionally, expanding distribution networks and establishing logistics systems are part of the strategy.
Through the 'One Trade Center-One Distribution Network Cooperation Project', the government intends to secure 10 new local distribution networks alongside existing platforms like JD.com and Alibaba. The 'K-Consumer Goods Logistics Desk' will be established in inland regions like Chengdu and Xi'an to complete a logistics support system connecting the coast to the inland.
The Ministry of Trade, Industry and Energy is also focusing on preemptively addressing corporate difficulties, such as export regulations, by solidifying networks with major Chinese local governments. An official from the ministry emphasized the goal of making this year a V-shaped rebound in exports to China.
Written by urgent.news from BusinessKorea's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
