Do not go gentle into that good night, old age should burn and rave at close of day; Rage, rage against the dying of the light, though wise men at their end know dark is right, because their words had forked no lightning they, do not go gentle into that good night.
KOTRA, Walmart to expand market access for Korean exporters
Exterior view of a Walmart store entrance with shoppers passing by / Korea Times file
By Jhoo Dong-chan
The Korea Trade-Investment Promotion Agency (KOTRA), the country’s state-run trade promotion agency, said it is teaming up with Walmart, the world's largest retailer, to help Korean consumer goods companies — particularly in the beauty and food sectors — expand their reach in the U.S. e-commerce market.
Through the newly launched Global Online Distribution Network Power Seller Development Program, KOTRA will offer step-by-step support for Korean companies, covering everything from setting up accounts on the Walmart Marketplace to logistics operations and local marketing.
The U.S. e-commerce market is projected to reach $1.22 trillion in 2026 and grow at an average annual rate of 5.51 percent through 2030, according to Statista Market Insights. Korean beauty products alone captured 24 percent of the U.S. beauty import market as of March, a share that has drawn growing interest from global retailers.
Walmart operates more than 4,600 physical stores across the U.S. in addition to its online Marketplace platform, which allows outside sellers to list and sell products directly to American consumers.
Under the new program, products that perform well and receive strong customer response on the Marketplace could also be considered for placement in Walmart's physical stores, KOTRA said.
While demand from Korean companies to enter the U.S. market through Walmart has been growing, smaller and mid-sized businesses have faced hurdles such as setting up seller accounts, managing logistics and building local marketing capacity on their own, according to KOTRA.
Companies selected for the program will receive practical training on setting up Walmart accounts and initial market entry, along with early-stage marketing funding to boost product visibility and build a sales base on the platform.
"The U.S. is a key market for Korean consumer goods exports and a market that leads global consumption trends," KOTRA CEO Kang Kyung-sung said.
"We will spare no support in helping promising Korean consumer goods companies enter the U.S. market steadily through major online and offline platforms such as Walmart and achieve tangible export results."
A Walmart Marketplace official said the retailer expects to continue expanding cooperation with Korean companies "as interest in Korean beauty, food and other consumer goods keeps growing among U.S. consumers."
The initiative follows a series of engagements between KOTRA and Walmart, including a first round of talks between Kang and a Walmart global senior manager at the Korean Wave Expo in New York last November, as well as a follow-up event in January in which KOTRA hosted a 14-member Walmart buying delegation — including seven vice presidents and purchasing heads — at its Seoul headquarters for a Walmart Marketplace Sourcing Plaza session.
KOTRA said it plans to gradually expand the program with more advanced advertising and marketing support, as well as opportunities for top-performing companies to participate in livestream commerce.
Applications for the program will be accepted from Monday through Aug. 23, with the program itself running through Oct. 30.
Companies must be registered corporations that do not already hold a Walmart account or have products listed on the platform. Selected companies will receive two rounds of introductory training and up to 300,000 won ($216) in marketing cost reimbursement, available to the first 10 companies per intake on a reimbursement basis. Each cohort will select roughly 150 companies.
Applications can be submitted through KOTRA's website.
This article was published with the assistance of generative AI and edited by The Korea Times.