HUB 生产基地 40 | JNA May/June 2025 Riding on the popularity of ‘everything Korean’ – from dramas to music, beauty and fashion, the country’s jewellery sector is targeting overseas markets while embracing evolving consumer trends. 从电视剧到音乐、美容到时装，韩流席卷全球。 韩国的珠宝行业正瞄准海外市场，同时拥抱不断变化的消费趋势。 KOREAN jewellery manufacturers eye overseas opportunities 韩国珠宝制造商开拓海外机遇 | Sharon Kwok 郭芷雯 | Rhodium-plated 18-karat gold jewellery by Jewel Jinyong Jewel Jinyong的18K金镀铑首饰 On-trend and affordable, South Koreanmade jewellery is gradually gaining traction in the international market. According to manufacturers, the country is striving to enhance its competitiveness in the global jewellery scene through product innovations and market expansion. ‘K-jewellery’ on the global stage According to research conducted by Korea-based Wolgok Jewelry Research Center (WJRC), the Korean jewellery market reached approximately KRW8.77 trillion (around US$591.93 million) in 2024, representing a 13.5 per cent year-on-year increase. WJRC noted that this is a nominal growth, driven by rising gold prices rather than an actual increase in transaction volume. Jiyeon Cha, principal researcher at WJRC, said there was a significant drop in jewellery purchases among Korean consumers over the last two years due to economic uncertainties. “This decline reached a record low, even worse than Covid in 2020. This trend indicates that consumers tend to deprioritise purchasing jewellery during periods of economic instability,” she stated. Despite a lacklustre domestic demand, jewellery exports were on an upward trajectory, increasing by 31.4 per cent year on year to US$565.03 million in 2024, data from the Korea International Trade Association showed. Cha attributed the growth to the rise in gold prices and Korean jewellery companies’ expansion into new markets such as Türkiye. “In times of stagnant domestic demand and intensified import competition, the industry must focus on overseas expansion and product innovation to drive growth,” she remarked. Cha pointed out that the widespread influence of the Korean cultural phenomena is shaping consumer preferences. She added, “Just as ‘K-pop’ and ‘K-fashion’ achieved remarkable global success, it is time for ‘K-jewellery’ to establish a stronger presence in the international market.” As such, Korean jewellery companies must strategically adopt a brand-centred approach. “Strengthening brand value through design differentiation and compelling brand storytelling is increasingly crucial,” explained Cha. “Leveraging tactics that communicate the distinct beauty and emotional value of jewellery to buyers is essential to stand out in the global market.”
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