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Fashion Industry in Korea

Korea Fashion Market Size
Fashion market size by clothing type
Fashion market size by clothing type
men’s suits women’s suits casual clothes sport wear under wear children’s clothes clothing market Shoes Bags Fashion market
2021 performance 4.4536 trillion won 3.850 trillion won 17.4029 trillion won 5.7896 trillion won 2.668 trillion won 1.1247 trillion won 33.9227 trillion won 6.6681 trillion won 2.9385 trillion won 43.529.2 trillion won
※ Source : KFTI, 2nd half Statistical Report on Korea Fashion Market Trend 2022
General Status of Textile Fashion Industry(2020)
Number of companies(units) Employment(a thousand people)
Manufacturing 453,257 3,984,905
Textile and Fashion Industry 47,443 253,425
Importance 10.5% 6.4%
※ Source : KOFOTI (Korea Federation of Textile Industries)
Top 4 Korean Fashion Companies (2022)
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  • Samsung C&T : 20,010 billion won(13.2% increase from the previous year)
  • LF : 19,685 billion won(9.8% increase from the previous year)
  • F&F : 18,091 billion won(66.1% increase from the previous year)
  • Shinsegae International : 15,539 billion won(7.1% increase from the previous year)
※ Source : Korea Fashion Industry Association
Online Fashion Market Size

In 2022, the volume of online shopping mall transactions increased by 3.3% from the previous year.
Existing online shopping mall operators as well as offline operators are actively entering the E-commerce market and are experiencing rapid growth.

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A turnover trend of online fashion market (Unit: one hundred million won)
Division 2016 2017 2018 2019
Turnover 629,506 - - 1,083,106
YOY(*) 312,351 - - 511,278
(*YOY: year on year, 전년대비(증감률))
A turnover trend of online fashion market

(Unit: one hundred million won)

온라인 쇼핑몰 패션시장 연도별 거래액 추이 목록입니다.
Division 2018 2019 2020 2021 2022
Turnover 376,485 423,352 455,356 482,164 498,158
YOY(*) - 12.4% 7.6% 5.9% 3.3%
※ Source : Statistics Korea, Online Shopping Survey

Seoul Fashion Industry

Dongdaemun Fashion Cluster

Dongdaemun, located in the center of Seoul, is a cluster of all fashion-related services from fashion-related stores to subsidiary materials and sewing factories for manufacturing.

Seoul Fashion Week

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서울시가 주최하는 글로벌 패션 비즈니스 행사이며, 연 2회 매년 3월과 10월에 열린다. 대한민국 패션산업의 중심을 이루고 있는 서울 패션위크는 2000년에 시작된 국내 최대 컬렉션이다.

Support facilities for Fashion industry in Seoul

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  • Urban Fashion support Center (Seoul Fashion Creative Studio SFCS) - Support for creative space and provided customized programs such as marketing, education, and activity expenses
  • Northeast Fashion support Center - Support for production activities of sewing companies and support for various businesses
  • Southern Fashion Support Center - Space configuration and equipment support such as photo studios, conference rooms, and runways
  • Northwest Fashion Support Center - Various business support such as fashion education, system establishment and space operation of the clothing manufacturing industry

Korea’s Cosmetic Industry

Korea’s Cosmetic Market Size

The cosmetic industry is a high value-added industry with a value-added per production unit that is about 10% higher than other industries.
The domestic cosmetic market has grown steadily to the extent that it ranks 10th in the world in terms of per capita consumption.

(Unit: one hundred million won)

Korea’s Cosmetic Market Size
Division 2017 2018 2019 2020 2021
Production 13,515,507 15,502,800 16,263,316 15,161,717 16,653,313
Exports 5,589,815 1,420,038 1,458,314 1,378,367 1,493,988
Market size 9,255,399 10,032,996 10,113,008 7,604,934 7,635,695
※ Source : KOSIS, [Status of Domestic Cosmetic Industry] Statistics
Ranking of Sales of Domestic Cosmetic Companies

(Unit: one hundred million won)

Ranking of Sales of Domestic Cosmetic Companies
Ranking Division 2019 2020 2021
1 LG H&H 7,685,424 7,844,506 8,091,511
2 Amorepacific Group 6,284,255 4,930,083 5,326,080
3 Amorepacific 5,580,142 4,432,179 4,863,128
4 BASF Korea 1,634,347 1,905,257 2,713,964
5 CJ Oliveyoung 365,936 1,873,864 2,119,189
※ Source : Self analysis of Cosmorning(https://cosmorning.com/)

Seoul’s Strategy of Beauty Industry

The Seoul-type beauty industry aims to expand the concept of the beauty industry centered on cosmetics and beauty to the fashion and design industry, and to become a world-class beauty fashion city that includes culture, tourism, K-wave, and K-content.

Basic plan of ‘The Seoul, Global Beauty Hub’

11 core tasks in 4 sectors

  • Creating a cluster, the global beauty industry base

    Establishing a core base for the Dongdaemun beauty and fashion industry
    Vitalization of 6 major regional bases for beauty trends
    Promote innovative technology R&D
  • Creation of a virtuous cycle industrial ecosystem and high added value

    Creation of beauty startups
    Nurturing experts in the beauty industry
  • Reinforcing marketing and expanding global expansion

    Marketing support for promising SMEs
    Acceleration of online and digital transformation of the beauty and fashion industries
    Expansion of entry into the global market by beauty companies
  • Maximize the attractiveness of Seoul, the city of beauty, through K-culture convergence

    Holding the Seoul Beauty Week and Seoul Beauty Month
    Establishment of a virtuous cycle of tourism and expansion of contents
    Promoting the beauty city

Beauty Festival in Seoul

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  • Seoul International Cosmetics&Beauty Expo (CosmoBeauty Seoul) - Providing the customized B2B program and holding the professional seminars & conferences
  • Seoul Beauty Week - a global beauty festival that exhibits the latest beauty trends and brands with potential, together with an opportunity to enjoy Seoul's cultural assets and K-wave