The market is dominated by domestic suppliers, as imports account for 19.1% of total market size in 2022. B2B drives market demand, with B2B spending representing 56.5% of total demand in 2022. South Korea has the fourth largest market size for furniture regionally, with demand reaching USD17.6 billion in 2022. Das Corp is the largest company in South Korea, generating 15.4% of the industry’s total production value in 2022. The industry is fragmented, with the top five companies generating 35.4% of total production value in 2022. The total number of companies decreases in 2022, to 23,174 units. The costs of the industry decrease by 22.8% in 2022, largely driven by declining B2B costs. The industry’s profitability increases and stands at 8.4% of production value in 2022, the 17th highest regionally. The industry’s exports share increases in 2022 to 12.3% of total production output. With production value of USD14.1 billion, South Korea accounts for 3.8% of the Asia Pacific total in 2022.
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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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