Made in Korea, Loved in India
K-culture has seen a massive increase in popularity in India, especially over the last few years. From Korean skincare to cuisine, the enormous popularity and success of K-pop and K-dramas have heightened interest in all Korean things. Korea has had a significant impact not only in their own country but also around the world, including India, in terms of breaking down cultural, religious, traditional, and linguistic barriers making India a huge market for Korean brands.
The Korean Wave is an international phenomenon that started with the success of Korean dramas and movies in Asia and spread to other parts of the world. The term 'Korean Wave' was first coined by South Korean television actors and singers during the 1990s when they were asked about the popularity of South Korean entertainment abroad. Since then, the term has been used to describe the spread of South Korean pop culture across global markets, especially amongst fans and viewers who see it as a way to connect with their heritage or culture through entertainment and media.
Korean-pop music, culture, and dramas became a worldwide phenomenon, capturing the attention of people of all ages all over India and becoming a part of people's lives, particularly those of fans. Many Indian buyers prefer similar clothing options promoted by Korean actors and K-pop idols.
South Korea is a significant international East Asian country that is also a leader in many areas of technology and innovation. The developed country is India's fifth largest source of foreign investment, and South Korean companies such as LG, Samsung, and Kia have manufacturing facilities in India. Tata Motors also has a Daewoo Commercial Vehicles division in South Korea.
The increasing popularity of Korean dramas and Korean pop has also resulted in Korean becoming India's fastest-growing language. In a survey of 1,013 Indians conducted in December 2021 by Duo Lingo, a widely known language learning app, Korean has emerged as the country's fastest-growing foreign language. The sudden increase in language course enrolments can be attributed to Gen Z.
According to the Ministry of Commerce and Industry of India, "the rise in consumption of Korean food in India after the 2020 lockdown can be correlated to viewing figures of K-dramas and K-pop," according to a survey conducted by market research firm Euromonitor. Korean noodles in India grew by 162 percent in volume in 2020 and are expected to increase by 178 percent in 2022.
Crystal skin, sheet masks, snail mucin, and other products have helped to popularize K-beauty in India. Jamsu, a Korean beauty hack that involves dunking the face in ice water, has been very popularly growing on the internet, and celebrities like Katrina Kaif have been seen doing it. The K-beauty market has recently expanded, with Korean beauty products entering the Indian market. They are known for producing unique products that are made with natural ingredients. Their skincare line uses natural ingredients such as avocado oil and other oils from plants such as rosehip or camellia oil instead of synthetic chemicals. This helps consumers avoid harmful chemicals that can be found in other brands' products which may cause harm to your health when used regularly over long periods of time.
"People are eager to learn about new global beauty regimes and investing in personal care." This has created ample chances for brands in the category to innovate, with K-beauty leading the way. The 2020 pandemic has accelerated adoption. Pilgrim's sales have more than doubled in the last nine months.
Also, as per Amazon India, there has been an "increase of more than 3.5 times in the K-beauty category," and both platforms attribute the "surge in demand for Korean beauty products" to the rising popularity of K-dramas and K-pop instead of any marketing or distribution strategy.
India and South Korea have a long-standing relationship, marked by robust trade ties. The Indian government has recently released data showing that the top 20 Korean companies account for a staggering 95 percent of the $17.45 billion in trade relations between the two nations. It is the result of a free trade agreement that was settled between India and South Korea in 2010. According to this agreement, India is entitled to tariff-free South Korean food imports, with just a 5% duty on beauty products import. This information highlights the dominance of some of the biggest Korean companies in the Indian market and their significant contribution to the bilateral trade between the two countries. The data further emphasizes the strong economic relationship between India and South Korea and the potential for future growth in this partnership. It is also a testament to the competitiveness of Korean businesses and their ability to establish a strong presence in foreign markets. As the world moves towards greater economic integration, it will be interesting to see how this relationship between India and South Korea evolves and the impact it has on the global economy.
In conclusion,
We can def say that, Korean products have made a massive impact in India, offering consumers a unique blend of quality, affordability, and style. From electronics and beauty products to fashion and food, Korean brands have quickly become a household names in India, with consumers eager to try the latest and greatest from the Land of the Morning Calm. Whether you're a fan of Korean products or simply looking to try something new, be sure to check out the latest offerings from Korea, as they are sure to be loved in India.
So, see you in the next blog!
Author:
Rashmi Kotian