Lee Gyu-lee is a business writer at The Korea Times, focusing primarily on IT & telecommunications, the Ministry of Trade, Industry and Energy and KOTRA. Prior to this, she has covered a wide range of cultural news, from film, television and K-pop to lifestyle and fashion.
'Korea will lead next wave in consumer goods with K-culture boom,' KOTRA CEO says
Korea Trade-Investment Promotion Agency (KOTRA) CEO Kang Kyung-sung, center, speaks during a press conference for its Korea Brand & Entertainment Expo 2025 New York, in New Jersey, Thursday (local time). Courtesy of KOTRA
By Lee Gyu-lee
NEW JERSEY — Korea Trade-Investment Promotion Agency (KOTRA) CEO Kang Kyung-sung said Korea is entering a new phase of export-led growth, redefining its position in the global market by harnessing rising demand for consumer goods and the influence of K-culture.
"Until now, Korea has been a powerhouse in manufacturing — excelling in this field more than any other country," the CEO said during a press conference for the Korea Brand & Entertainment Expo 2025 New York hosted by the state-run agency in New Jersey on Thursday (local time).
"But now, I believe Korea has once again seized an opportunity in consumer goods."
Kang said the country’s export performance is regaining momentum with growing export diversification and robust demand in consumer goods, raising optimism for a potential record-breaking year-end outlook in the sector.
The country's consumer goods exports, which include agri-food products, cosmetics, household goods, fashion and pharmaceuticals, grew 6.6 percent from January to September from a year earlier, the CEO noted, adding that he expects the growth rate of consumer goods exports will reach an all-time high by the end of the year.
“Considering that last year marked the lowest export performance in history amid trade wars and rising protectionism, achieving 2.4 percent year-on-year growth in exports (from January) to October is truly remarkable,” he said.
Kang described this growth as a sign that Korea’s export portfolio is evolving beyond heavy industries into higher-value consumer sectors with culture-based branding.
“Consumer goods exports is not merely about shipping products; it involves items that people eat, wear and use in their daily lives. In other words, consumer exports succeed only when people open their hearts and embrace these products,” he said. “Hallyu (Korean wave) is now clearly translating into tangible growth in these exports."
Participants attend the business-to-business meeting session at Korea Trade-Investment Promotion Agency's (KOTRA) Korea Brand & Entertainment Expo 2025 New York, in New Jersey, Thursday (local time). Courtesy of KOTRA
In line with this shift, KOTRA has ramped up efforts to facilitate business-to-business connections abroad and expand e-commerce opportunities for small- and medium-sized Korean brands, expanding its annual expo from twice a year to four times this year and holding it in the United States for the first time.
“New York is leading global trends and is considered the most influential city in the world. Hosting this expo here holds even greater significance,” Kang said.
The expo brings together leading Korean consumer goods companies and global buyers, offering a dynamic showcase of K-culture through K-pop concerts, beauty and food shows and interactive experiences to help foster business partnerships, as well as export consulting.
At the expo, held from Thursday through Saturday (local time), 100 domestic companies are taking part to meet over 230 global buyers from key retail and distribution platforms such as Walmart and eBay.
The CEO further emphasized that the state-run agency aims to break the $1 trillion mark in annual exports by building synergy between hard industry and cultural soft power.
“KOTRA is fully committed to ensuring the success of the New York Expo, further spreading Korean culture and expanding its reach into the consumer goods sector, and driving a virtuous cycle between culture and industry to help Korea achieve an era of $1 trillion in annual exports even sooner,” he said.