Key Takeaways
- The South Korean fashion market was valued at approximately KRW 52.3 trillion in 2023, marking a 5.2% year-on-year growth driven by rising demand for sustainable apparel.
- Fashion e-commerce sales in South Korea reached KRW 18.7 trillion in 2022, accounting for 38% of total retail fashion sales.
- The luxury fashion segment in South Korea grew by 12% in 2023 to KRW 15.4 trillion, fueled by affluent millennials.
- South Korea's apparel manufacturing output was 1.2 billion units in 2022, with 65% from synthetic fibers.
- Fabric production for fashion reached 450 million meters in 2023, down 3% due to supply chain issues.
- Number of fashion factories in South Korea stood at 2,450 in 2023, concentrated in Seoul and Gyeonggi.
- South Korea's fashion exports totaled USD 13.2 billion in 2023, up 8.5% from 2022.
- Clothing exports to the US reached USD 4.1 billion in 2023, 31% of total fashion exports.
- Exports to China amounted to USD 3.8 billion in 2023 for apparel and textiles.
- Online fashion retail sales in South Korea hit KRW 22.4 trillion in 2023, 45% of total retail.
- Musinsa platform sales reached KRW 2.1 trillion in 2023, leading domestic e-fashion.
- Department store fashion sales KRW 12.3 trillion in 2023, down 1.2%.
- Fashion industry employed 1.2 million people in South Korea in 2023, 4.8% of total workforce.
- Apparel manufacturing jobs numbered 450,000 in 2023.
- Retail fashion sector employed 520,000 workers in 2023.
South Korea's fashion industry is thriving and diversifying both online and in luxury segments.
Domestic Consumption and Retail
Domestic Consumption and Retail Interpretation
Employment and Workforce
Employment and Workforce Interpretation
Exports and International Trade
Exports and International Trade Interpretation
Market Size and Revenue
Market Size and Revenue Interpretation
Production and Manufacturing
Production and Manufacturing Interpretation
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