(C) KOTRA

As K-consumer goods emerge as a new growth engine for exports in terms of both direct performance and ripple effects, the Korea Trade-Investment Promotion Agency (KOTRA, President Kang Kyung-sung) and the Korea Chamber of Commerce and Industry (KCCI, Chairman Chey Tae-won) signed a Memorandum of Understanding (MOU) on January 14 at the KCCI headquarters to expand K-consumer goods exports.

Under this agreement, KOTRA plans to integrate its own databases with the consumer goods company and product information databases held by the KCCI. By combining this data with its extensive overseas network, KOTRA aims to accelerate the global market entry of K-consumer goods.

K-consumer goods exports, bolstered by the global Hallyu (Korean Wave) phenomenon, are currently entering a leap-forward phase and becoming key players in export diversification. In 2025, exports of the top five consumer goods reached a record high of $46.4 billion (provisional), an 8.5% increase from the previous year. This sector accounted for 6.5% of total exports, with expectations that its share could soon reach 10%.

According to Korea Customs Service statistics, K-Food surpassed $10 billion in exports in 2021, followed by Cosmetics in 2024. Pharmaceuticals also broke the $10 billion mark for the first time in 2025. K-Fashion continues its upward trend, gaining significant popularity in markets like Japan.

The "K-Consumer Goods Boom"—encompassing food, beauty, and fashion—has a profound impact across the entire industrial landscape, as it positively enhances the brand recognition of other Korean industries.

The Korea Article Numbering Center (GS1 Korea) under the KCCI serves as the local distribution agency for GS1 (Global Standard No. 1) international standard barcodes. It currently maintains and services a product information database of approximately 50,000 domestic companies. While this database was previously used by private companies for market research, new product planning, and blocking hazardous goods, this MOU will expand its utility to support the overseas exports of small and medium-sized enterprises (SMEs). KOTRA intends to use this product database to provide customized global marketing services for SMEs.

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