18:45 6 June 2025
Korean Companies Conquer Europe Through Culture and Commerce
South Korea’s growing influence in Europe extends far beyond K-pop and K-dramas. The global success of the “Hallyu” wave is now reinforced by robust economic cooperation between South Korea and the European Union, turning Europe into a key strategic market for Korean companies.
Cultural exports such as Korean beauty products (K-beauty) and entertainment have opened doors for consumer goods, while electronics and advanced technologies continue to strengthen South Korea’s economic footprint. According to Grand View Research, the European K-beauty market reached $17.3 billion in 2022 and is expected to grow to $32.5 billion by 2030.
Europe’s stability and regulatory predictability are increasingly attractive to Korean firms amid global uncertainties and U.S. protectionism. The 2011 EU-Korea Free Trade Agreement eliminated nearly all tariffs and expanded access to services and public contracts. A new digital trade deal, signed in March 2025, further boosts cooperation in AI, 5G, and quantum technologies.
As political tensions with North Korea and the U.S. persist, Europe emerges as a vital partner, both economically and culturally.
