Footwear is expected to see relatively flat sales over the forecast period, with sales supported by baseline demand, but with challenges coming from the rise of counterfeit products. It is noted that “must-have” footwear brands can sell out, thus consumers who cannot wait for new official stock to arrive can fall foul to the fraud of counterfeit alternatives.
Competition is expected to become more intense over the forecast period, with brands opening flagship stores to connect with consumers, showcase their brand identity, and display their latest designs. For example, New Balance opened its Sungsu Flagship Store in Seoul in November 2024, which is promoted as a place where consumers can “feel the New Balance brand heritage and craftsmanship” and see “the largest collection of New Balance shoes in Korea”.
South Korea is a key fashion market in the Asia-Pacific territory and, as a result, international brands which used to be retailed through local distributors or via licensing are directly entering South Korea to better communicate directly with consumers, maximise profits, and become more agile in the territory. Birkenstock is one such brand cited in this context, with the Swiss On brand being another.
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Understand the latest market trends and future growth opportunities for the Footwear industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Footwear industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Footwear
This is the aggregation of children's footwear, men's footwear and women's footwear. Includes all men’s, women’s and children’s outdoor and indoor shoes made of materials as leather, fabric or plastic. Outdoor shoes includes all dress shoes, trainers, sports shoes, sandals, boots, pumps, and high heels. Indoor shoes includes house-shoes and slippers. Items must be new when sold to the consumer; second-hand/used footwear is excluded. Antique and/or vintage footwear is also excluded. Sports footwear (broken out as a separate category) is included in total footwear figure. One pair of footwear constitutes one volume unit.
See all of our definitionsThis report originates from Passport, our Footwear research and analysis database.
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