The Korea Trade-Investment Promotion Agency (KOTRA) said on the 19th that it is hosting "On-the-Road K-Consumer Goods Export Consultation" events in Daegu on Oct. 19 and in Cheongju on Oct. 22, inviting 10 major Chinese buyers with online distribution networks, including Douyin and Fosun Group. The agency said it worked with Daegu, North Gyeongsang Province and the Osong Bio Foundation to spread the gains from consumer goods exports to regional economies.
In China, new types of distribution channels such as live commerce and membership-based retail networks are growing, and these platforms are increasingly looking at Korean consumer goods.
Exports of Korean consumer goods are also rising. From January through August this year, exports to China of the five main consumer goods categories — cosmetics, food, fashion, pharmaceuticals and household goods — rose 8.4% from a year earlier, returning to growth for the first time in five years since 2021.
Chinese online distributors expressed interest in a wide range of Korean products. Douyin is focusing on Korean health functional foods in line with Chinese consumers' growing emphasis on wellness. Fosun Group, a major Chinese conglomerate, is visiting Korea to find cosmetics that can capitalize on the Korean Wave. Whalelink, which distributes overseas products mainly online, is seeking to import waterproof sunscreen.
There is demand from offline channels as well. Chunfeng, which operates membership-based supermarkets with 300,000 members in northeastern China, is looking for Korean makers of snacks and beverages. Hechuntang, a distributor in Qingdao, is searching for hair-loss care and hair-dye products.
KOTRA said it plans to use the events to strengthen links between the needs of major Chinese consumer goods buyers and regional exporters. In Daegu on the 19th, cosmetics, food and fashion companies will hold export talks with the Chinese firms, while in Cheongju on the 22nd, beauty and beauty-device companies will do so in conjunction with the Osong Cosmetics and Beauty Expo.
"Korea-China business cooperation has become more active since last year, and the effects are showing up first in consumer goods exports," KOTRA Executive Vice President Kang Sang-yeop said. "KOTRA is supporting cooperation with Chinese distribution networks and joint overseas expansion by Korean distributors and consumer goods companies, and we will do our best to spread these results to regional companies."