To connect the enthusiasm of the Korean Wave with domestic consumer goods exports, an $18 million export contract and memorandum of understanding (MOU) were signed at the Korean Wave Expo held in Melbourne, Australia. A total of 101 domestic companies participated, exploring opportunities in the Oceania market.
The Ministry of Trade, Industry and Energy and the Ministry of Agriculture, Food and Rural Affairs announced on November 8 that they co-hosted the '2026 Melbourne Korean Wave Expo' and 'Australia K-Food Fair' from November 5 to 7 at the Melbourne Showgrounds. The event, organized by the Korea Trade-Investment Promotion Agency (KOTRA) and the Korea Agro-Fisheries & Food Trade Corporation (aT), combined Korean Wave performances with export consultations and product experience events to support the overseas market entry of domestic small and medium-sized enterprises.
First held in 2010, the Korean Wave Expo is now in its 28th iteration and was hosted in Oceania for the first time this year. The export consultation event featured 101 domestic companies from the food, cosmetics, household goods, and fashion sectors, along with 144 buyers from Oceania and Southeast Asia.
These companies conducted a total of 1,235 export consultations, resulting in 32 contracts and MOUs worth $18 million. Approximately 10,000 visitors attended the exhibition and promotional events aimed at local consumers.
Australia is emerging as a key export market for Korean consumer goods. According to the Ministry of Industry, Korea's cosmetics exports to Australia increased from $73 million in 2023 to $112 million in 2024, up from $166 million last year. This marks a 2.3-fold increase in export volume over two years. Since the Korea-Australia Free Trade Agreement (FTA) took effect on December 12, 2014, the two countries have gradually eliminated tariffs on goods, expanding their trade base.
Analysts attribute the growing interest in Korean cosmetics and food to Australia's high purchasing power, increasing consumption related to health and beauty, and the spread of the Korean Wave. The reduction of tariff barriers through the FTA is also seen as supporting the rise in consumer goods.
Domestic retail companies such as E-Mart, Shinsegae, Lotte Home Shopping, Hyundai Department Store, and Musinsa participated in the event to showcase Korean products. Performances by K-pop group WINNER and the Australian dance team Age Squad, along with K-food and K-fashion experience programs, were also held.
During the expo, the Ministry of Industry held a meeting with domestic companies that have entered the Australian market to listen to their challenges and discuss support measures.
Na Sung-hwa, Director of Trade Policy at the Ministry of Industry, stated, "As we approach the goal of $1 trillion in exports, discovering new growth engines for our exports is crucial. We will actively support the Korean Wave's influence to translate it into tangible export results, allowing K-consumer goods to emerge as a new export leader."
* This article has been translated by AI.
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