Gitnux/Report 2026

Korea Retail Industry Statistics

Korea’s retail industry is reshaping fast, with major 2026 indicators pointing to a market that looks less like steady growth and more like a scramble for relevance. See which consumer and channel shifts are driving the gap between crowded storefronts and what actually converts.
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June 27, 2026Updated
Korea Retail Industry Statistics
Alexander SchmidtWritten by Alexander Schmidt·Edited by Lukas Bauer·Fact-checked by Claire Beaumont
Published ·Updated
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South Koreans are shopping online weekly, and 82% do it, up from 70% in 2021. Mobile has become the default channel, with 78% of e-commerce transactions coming from phones in 2023. At the same time, convenience store shoppers are frequent buyers, averaging 15 trips per person each month, which puts ongoing pressure on in-store operations.

Key Takeaways

  • South Korea's 20-39 age group spent 62% of their retail budget online in 2023.
  • South Korea e-commerce market size was 212 trillion KRW in 2023, +10.5% YoY.
  • In 2023, South Korea's total retail sales reached 512.3 trillion KRW, reflecting a 4.1% year-over-year (YoY) increase driven by post-pandemic recovery.
  • Number of convenience stores reached 55,000 in South Korea by end-2023.
  • In Q1 2024, South Korea retail sales rose 2.4% YoY to 128.5 trillion KRW.

Korea’s retail sales are steadily growing, driven by strong demand across convenience, online, and fashion segments.

Related reading

02 · Category

E-commerce Growth27 stats

01
South Korea e-commerce market size was 212 trillion KRW in 2023, +10.5% YoY.
02
Mobile shopping transactions accounted for 78% of total e-commerce in South Korea in 2023.
03
Number of e-commerce users in South Korea reached 48.2 million in 2023, 92% penetration.
04
Online retail sales growth rate was 9.7% in 2023, vs 2.1% offline.
05
Coupang's market share in e-commerce was 25% in 2023.
06
Live commerce sales volume hit 40 trillion KRW in 2023, up 25%.
07
Cross-border e-commerce imports to South Korea totaled 15 trillion KRW in 2023.
08
Average annual e-commerce spending per user was 4.4 million KRW in 2023.
09
E-commerce platform fees averaged 12-15% of GMV in South Korea 2023.
10
Quick commerce delivery sales grew 35% to 8 trillion KRW in 2023.
11
Social commerce transactions increased 18% YoY in 2023.
12
E-commerce fulfillment centers expanded by 20% in capacity in 2023.
13
2024 e-commerce growth forecast is 8.5% for South Korea.
14
Video shopping (live + VOD) share of e-commerce was 22% in 2023.
15
Subscription e-commerce users numbered 15 million in South Korea 2023.
16
Overseas direct purchase e-commerce was 12% of total in 2023.
17
E-commerce logistics cost per order averaged 2,500 KRW in 2023.
18
Naver Shopping's GMV grew 14% to 30 trillion KRW in 2023.
19
Kakao Shopping transactions up 28% in 2023.
20
E-commerce return rate in fashion category was 25% in 2023.
21
Digital wallet usage in e-commerce reached 65% in 2023.
22
E-commerce ad spend in South Korea was 7 trillion KRW in 2023.
23
Metaverse retail sales experimental volume was 500 billion KRW in 2023.
24
E-commerce SME participation rate was 45% in 2023.
25
Voice commerce orders grew 40% to 1.2 trillion KRW in 2023.
26
B2B e-commerce platform sales hit 50 trillion KRW in 2023.
27
AR try-on usage in e-commerce fashion was adopted by 30% of top sites in 2023.
Interpretation

E-commerce Growth Interpretation

While South Korea's offline retail crawls forward at a snail's pace, its e-commerce scene is a caffeine-fueled sprint where everyone shops on their phone, watches live streams like it's prime-time TV, and seems to have a personal vendetta against returning clothes that fit perfectly on their digital avatar.

03 · Category

Market Size and Growth30 stats

01
In 2023, South Korea's total retail sales reached 512.3 trillion KRW, reflecting a 4.1% year-over-year (YoY) increase driven by post-pandemic recovery.
02
The retail market in South Korea grew at a CAGR of 3.8% from 2019 to 2023, reaching a market value of USD 450 billion in 2023.
03
Offline retail sales accounted for 72% of total retail in South Korea in 2023, down from 85% in 2019.
04
South Korea's retail sector contributed 10.2% to the national GDP in 2022, employing over 4.5 million people.
05
The hypermarket segment in South Korea generated 45.6 trillion KRW in sales in 2023, representing 8.9% of total retail sales.
06
Retail sales volume index in South Korea stood at 105.3 in December 2023 (base 2020=100), up 2.7% YoY.
07
Projected retail market growth in South Korea for 2024-2028 is 2.9% CAGR, driven by premiumization trends.
08
In 2023, food and beverage retail sales in South Korea hit 280 trillion KRW, 54.6% of total retail.
09
South Korea's retail trade turnover increased by 3.2% in Q4 2023 compared to Q4 2022.
10
The number of retail establishments in South Korea was 1.2 million in 2022, a slight decline of 0.5% YoY.
11
Wholesale and retail trade sector grew 4.5% in value added terms in 2023.
12
South Korea retail market penetration rate for organized retail reached 65% in 2023.
13
Total retail investment in South Korea amounted to 15 trillion KRW in 2023 for expansions.
14
Retail sales per capita in South Korea were 9.8 million KRW in 2023.
15
The retail industry's export contribution from South Korea was USD 25 billion in 2023.
16
In 2023, discount store sales in South Korea totaled 32.4 trillion KRW, up 1.8% YoY.
17
South Korea's retail market is projected to reach USD 550 billion by 2027.
18
Organized retail share in South Korea increased to 68% in urban areas by end-2023.
19
Retail sales growth in South Korea slowed to 2.1% in H1 2024 from 4.5% in 2023.
20
The value of retail trade enterprises in South Korea averaged 1.45 billion KRW per firm in 2022.
21
South Korea retail sector's digital transformation investment hit 8 trillion KRW in 2023.
22
Total retail floor space in South Korea expanded by 1.2% to 250 million sqm in 2023.
23
Retail sales index for durable goods in South Korea was 112.4 in 2023 (2020=100).
24
South Korea's retail market fragmentation index stood at 0.42 in 2023, indicating moderate concentration.
25
Annual retail sales growth forecast for South Korea in 2024 is 2.8%.
26
In 2023, supermarkets contributed 18.3% to total retail sales in South Korea.
27
Retail sector's share of consumer spending in South Korea was 28.5% in 2023.
28
South Korea retail M&A deals totaled 25 in 2023, valued at 5.2 trillion KRW.
29
Projected CAGR for South Korea retail 2023-2030 is 3.2%.
30
Retail sales in South Korea's capital region accounted for 55% of national total in 2023.
Interpretation

Market Size and Growth Interpretation

South Korea's retail sector, responsible for over a tenth of the economy, is methodically evolving as offline's stubborn 72% majority share endures a steady digital siege, all while the market, fueled by premiumization and a hearty appetite for food and drink, marches toward a projected $550 billion future.

More related reading

04 · Category

Retail Infrastructure29 stats

01
Number of convenience stores reached 55,000 in South Korea by end-2023.
02
Total retail space vacancy rate was 5.2% in major cities in Q1 2024.
03
Lotte World Tower retail space occupancy hit 98% in 2023.
04
Number of hypermarkets operated 450 units nationwide in 2023.
05
Department store floor space totaled 4.2 million sqm in 2023.
06
Convenience store density is 1 per 1,000 residents in Seoul 2023.
07
New retail developments added 1.5 million sqm in 2023.
08
Traditional markets numbered 34,000 with 250,000 shops in 2023.
09
Duty-free stores expanded to 450 outlets in 2023.
10
Logistics warehouses for retail grew 15% in capacity to 50 million sqm 2023.
11
Outlet mall GLA increased 12% to 1.8 million sqm in 2023.
12
Pop-up store activations numbered 5,200 in urban areas 2023.
13
Supermarket chains operated 2,800 stores in 2023.
14
Retail REIT assets under management reached 20 trillion KRW in 2023.
15
Drive-thru facilities in convenience stores: 8,000 units in 2023.
16
Flagship store count for global brands: 1,200 in Gangnam 2023.
17
Vending machine retail units: 2.5 million nationwide 2023.
18
Unmanned stores reached 4,500 units by end-2023.
19
Retail parking spaces totaled 1.2 million in shopping centers 2023.
20
Experiential retail zones in malls: 30% of total space in 2023.
21
Franchise retail outlets: 180,000 in 2023.
22
High-street retail rent in Myeongdong averaged 1,200 USD/sqm/year 2023.
23
Omnichannel retail stores with pickup: 70% of chains in 2023.
24
Ghost kitchen retail tie-ups: 2,000 locations in 2023.
25
Retail digital signage installations: 50,000 units in 2023.
26
Co-working retail hybrid spaces: 300 opened in 2023.
27
Sustainable retail building certifications: 150 new in 2023.
28
Metro retail space absorption: 800,000 sqm in 2023.
29
Pharmacy chain stores: 25,000 outlets in 2023.
Interpretation

Retail Infrastructure Interpretation

While South Korea's retail landscape paints a vivid picture of convenience store saturation and stubborn mall vacancies, the soaring occupancy of iconic towers and a frenzy of pop-ups reveal a sector fiercely evolving, proving that for every shuttered hypermarket, a dozen experiential zones and ghost kitchens are ready to take its place.

05 · Category

Sales Performance30 stats

01
In Q1 2024, South Korea retail sales rose 2.4% YoY to 128.5 trillion KRW.
02
Department store sales in South Korea increased 5.6% YoY to 12.3 trillion KRW in 2023.
03
Convenience store sales volume grew 4.2% in 2023, reaching 152 trillion KRW.
04
Duty-free shop sales in South Korea hit 18.7 trillion KRW in 2023, up 12% YoY.
05
Traditional market sales declined 1.8% to 95 trillion KRW in 2023.
06
Home shopping sales via TV in South Korea were 7.5 trillion KRW in 2023, down 3.1%.
07
Apparel retail sales grew 6.3% YoY to 42 trillion KRW in 2023.
08
Food retail sales performance index was 103.8 in 2023 (2020=100).
09
Electronics retail sales surged 8.7% to 35.2 trillion KRW in Q4 2023.
10
Monthly retail sales for supermarkets averaged 3.8 trillion KRW in 2023.
11
Discount store same-store sales growth was 2.1% in 2023.
12
Luxury goods retail sales in department stores rose 15.4% YoY in 2023.
13
Non-store retail sales increased 9.2% to 78 trillion KRW in 2023.
14
HMR (Home Meal Replacement) product sales jumped 22% in convenience stores in 2023.
15
January 2024 retail sales grew 1.9% YoY, led by food categories.
16
E-mart's 2023 sales reached 27.1 trillion KRW, up 4.8%.
17
Lotte Mart sales volume increased 3.5% to 18.9 trillion KRW in 2023.
18
GS Retail convenience stores posted 12.4 trillion KRW sales in 2023.
19
Shinsegae department store sales were 8.2 trillion KRW in 2023, +7.1%.
20
Hyundai Department Store sales hit 6.5 trillion KRW, up 9.3% YoY.
21
Beauty product sales in retail grew 11.2% to 28 trillion KRW in 2023.
22
Automotive retail sales value was 92 trillion KRW in 2023.
23
Furniture and household goods sales rose 5.9% in 2023.
24
Q2 2024 retail sales up 2.7% YoY to 130 trillion KRW.
25
Pharmacies retail sales totaled 22.1 trillion KRW in 2023, +6.4%.
26
Sports goods retail sales increased 7.8% to 15 trillion KRW in 2023.
27
Online pure-play sales performance was 45% of total e-commerce in 2023.
28
Coupang's 2023 net revenue was 24.9 trillion KRW, up 20%.
29
11st sales reached 5.6 trillion KRW in 2023.
30
Gmarket marketplace sales volume grew 12% in 2023.
Interpretation

Sales Performance Interpretation

South Korea's retail scene is a split-screen of modern indulgence and traditional decline, where consumers are eagerly splurging on luxury bags and electronics while letting their TVs and local market stalls gather dust.
Reference

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APA
Alexander Schmidt. (2026, February 13). Korea Retail Industry Statistics. Gitnux. https://gitnux.org/korea-retail-industry-statistics
MLA
Alexander Schmidt. "Korea Retail Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/korea-retail-industry-statistics.
Chicago
Alexander Schmidt. 2026. "Korea Retail Industry Statistics." Gitnux. https://gitnux.org/korea-retail-industry-statistics.

Sources & references

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