Lee In-ho (pictured), Executive Vice Chairman of the Korea International Trade Association, made these remarks on the 18th at the “Korea Expo Paris” event held at the Expo Porte de Versailles exhibition center in Paris. He emphasized, “K-Culture is moving beyond a short-term craze and evolving into a consumer behavior where people actively purchase and use Korean products.” This indicates that K-Culture is deeply penetrating the daily lives of Europeans and establishing itself as a distinct genre within their consumer culture. Vice Chairman Lee explained, “In terms of ripple effects—including forward and backward linkages—it is incomparable to the Hallyu boom of the early 2000s,” adding, “Compared to markets such as Japan and Southeast Asia, the European market’s growth is overwhelming in terms of the consumer age demographic and purchasing power.”
Vice Chairman Lee explained that the association is hosting events under the “Korea” and “Premium” banners in Paris, France; Tokyo, Japan; Jakarta, Indonesia; and Ho Chi Minh City, Vietnam, to diversify its export market portfolio. He emphasized that “non-durable consumer goods”—such as cosmetics and food, for which demand is surging thanks to the recent popularity of K-Culture—should be used as a tool to strengthen the foundation of the export market. This is because non-durable consumer goods, which have a short consumption cycle of less than one year, are “essential goods” that consumers do not easily switch once they start using them, making them “demand-stable” items that are less affected by economic cycles.
In fact, cosmetics—a representative non-durable consumer good—have recently shown strong export performance in the European market. According to import-export statistics from the Korea Customs Service, exports of Korean cosmetics to the five major European countries (Germany, the United Kingdom, France, Italy, and Spain) totaled $447.13 million last year, a 2.8-fold increase over the past three years. From January through May of this year, export value reached $290.78 million, a 76% increase compared to the same period last year. Vice Chairman Lee explained, “This is why we strategically focused the product lineup of participating companies at this year’s Korea Expo Paris on non-durable goods such as cosmetics and food.”
He attributed the success of “Korea Expo Paris”—which concluded its three-day run on the 20th—to the event’s enhanced functionality as a business platform, enabling it to expand its reach and set a record for the highest attendance in its history despite challenging conditions such as high oil prices and a strong exchange rate. Vice Chairman Lee believes that the database and network of influential buyers—which the organization has consistently managed since the event’s inception—served as the catalyst for this record-breaking success. “Paris, France, is a hub that leads consumer goods market trends within Europe,” Vice Chairman Lee said, adding, “I expect the success of Korea Expo Paris to serve as an opportunity to raise awareness and demand for Korean products across Europe.”
