The Korean home furnishing market is forecasted to reach €13.5 billion by 2023. The increase in disposable incomes and purchasing power has fuelled demand for design-oriented lifestyles.
Woodwork, matching sets, light and spatial design are in trend. The main consumer base are in their 20s and 40s, living in single-person households or single child families. Minimalism is trendy, along with demands for home decoration at reasonable prices.
European companies that offer small-scale customised production to meet specific needs of Korean consumers will find partnership opportunities.
EU Gateway | Business Avenues will select up to 50 companies to participate in a business mission to Seoul, from 25-29 May 2020.