Selling in South Korea through e-commerce, possibilities and prospects

Did you know that in 2022, Italy's digital export reached a value of 18.7 billion euros, with a growth of +20.3% than in 2021, reaching a share of 8.8% of total Italian exports?

Thanks in part to the pandemic, the digital transition has undoubtedly been accelerated: the ability to sell online worldwide has been one of the main means of reducing the effects of the crisis.

And in this time marked by the boom of e-commerce, the following are becoming increasingly popular markets aimed at Southeast Asia, particularly the one represented by the South Korea.

Selling in South Korea is now an opportunity with excellent prospects, mainly due to the country's strong digitalization. Suffice it to say that the percentage of Population shopping online exceeds 80%, and that this trend appears to be steadily upward.

How then to capture a slice of this market? We explain it in this article.

E-commerce to sell in South Korea, the conveniences

The fastest growing business sectors in South Korea include the’clothing, i foodstuffs (like wine), the personal care and the’furniture.

South Korea is considered the litmus test. to assess the strength of certain goods on the Asian continent: if the responses, in terms of sales, are positive in the Korean market, this can be the springboard for entry into other neighboring countries, such as Japan and China. In other words, testing a product in South Korea means getting a useful evaluation to decide whether or not to expand into other territories.

One of the main advantages of selling in this country is then the Lack of export taxation by the European Union. For almost all types of goods, there are no customs fees but only The mandatory nature of a “declaration of origin”, namely the requirement to specify the “economic nationality” of the goods to be sold.

Italian products, conforming to the style of exclusivity still connected with Made in Italy, are highly sought after in South Korea. Therefore, an e-commerce that turns its attention to the Korean market has very good prospects of achieving good results even in the short term. 

A good strategy may be to place the products to be sold Both on dedicated e-commerce, either on a marketplace as widely used in South Korea as Gmarket, owned by Ebay. On Gmarket, payments are handled directly by sellers, who must pay a commission on each purchase. 

In both cases, it is strongly recommended to rely on Of market experts in the country, to optimize the presence of the products you want to sell. This includes una digital communication strategy that knows how to emphasize the characteristics of the goods, based on the demand for goods in South Korea. This strategy should also include social media, channels for large-scale dissemination of new brands.

South Korea, a steadily growing online market

South Korea is one Among the most digitized countries in the world and among the most open to technological innovations. Despite its small size, its establishment as an export country continues to grow. Suffice it to say that it is the country with the fastest mobile network, and thehis economy is the fourth largest in Asia.

Setting up an e-commerce business that sells in this nation means facing a thriving market, especially on the digital front. Indeed, in South Korea, online sales have surpassed traditional ways of selling.

Selling in that country is certainly an excellent opportunity, which can lead to considerable expansion of one's online business. But Korea is also a nation picky about online products, which must be of excellent quality and be delivered quickly. As mentioned earlier, it is therefore of paramount importance to have a business partner who can identify the best strategies to optimize sales, depending on the target audience.