The market is dominated by domestic suppliers, as imports account for 18.3% of total market size in 2023. B2B drives market demand, with B2B spending representing 56.6% of total demand in 2023. South Korea has the fourth largest market size for furniture regionally, with demand reaching USD18.3 billion in 2023. Das Corp is the largest company in South Korea, generating 16.1% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 37.1% of total production value in 2023. The total number of companies decreases in 2023, to 23,006 units. The costs of the industry increase by 3.9% in 2023, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 8.2% of production value in 2023, the 14th highest regionally. The industry’s exports share decreases in 2023 to 11.3% of total production output. With production value of USD14.6 billion, South Korea accounts for 3.9% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Furniture in South Korea: ISIC 361. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Furniture in South Korea: ISIC 361 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
Household Goods is an aggregation of Furniture, Jewellery and Related Articles, Musical Instruments; Imitation Jewellery, Brushes and Other Personal Items, Sports Goods, Toys and Games, Watches and Clocks.
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