"Government to strengthen support for global expansion through retail platforms"
Yeo Han-koo, Korea’s Deputy Minister for Trade at the Ministry of Trade, Industry and Energy (MOTIE), announced on November 12 that the government will unveil a plan by the end of this year to boost exports of K-consumer goods by linking them with the global popularity of the Korean Wave (Hallyu).
During a visit to the Musinsa Standard store in Seongsu, Seoul, Yeo reviewed the current status of K-fashion exports and held a meeting with representatives from the retail industry. The visit was organized to explore ways to expand consumer goods exports by leveraging the growing influence of K-culture and the capabilities of domestic distribution platforms.
“To foster K-consumer goods linked with the Korean Wave as a new engine for export growth, the government will strengthen its support,” Yeo said. “We plan to expand marketing efforts connected to major global events such as K-Expo and K-pop concerts, while improving support systems to enable retail platform companies to proactively reflect global market trends.”
Yeo also emphasized that the government will work with the Korea Trade-Investment Promotion Agency (KOTRA) to address challenges faced by exporters in logistics, certification, and intellectual property rights. He noted that customized logistics infrastructure and consulting services, including information on country-specific certifications such as Halal, will be expanded to assist exporters.
In addition, the government aims to promote export growth through reverse direct purchasing (cross-border e-commerce) and online platforms. Initiatives include building and promoting global online malls, connecting local logistics partners, and supporting customs and certification processes to help domestic retailers evolve into global platforms.
“Our retail platforms serve as a crucial bridge connecting overseas consumers with K-consumer goods,” Yeo said. “By supporting capable retail companies’ overseas expansion, we will help small and medium-sized Korean enterprises bring their products closer to consumers around the world.”