K-wave goes mainstream in SEA but consumers now surf for localised K-products

Singapore – Consumers in Southeast Asia are avid consumers of ‘Korean-wave’ (K-wave) products but ultimately surf for localised K-products, according to data analytics firm Euromonitor International.

With growing consumer demand, brands are increasingly embracing K-wave in product development, promotion and local engagement. Consumer brands, particularly food, drinks and beauty, see K-wave as a tide driving key growth.

According to the report, Singaporeans saw a significant 52% growth in outbound travel to South Korea in 2024 compared to 2019. Visitors from Indonesia (10%) and Taiwan region (13%) also increasingly travel to the home of K-Wave, driven by strong outbound travel recovery.

For instance, Soju, South Korea’s popular alcoholic drink, has become an affordable drink for locals nowadays, thanks to it featuring in K-drama. Soju has seen impressive growth in major Southeast Asian countries with CAGR of 121% growth from 2019 to 2023 in total volume sales, particularly in Malaysia (241%), Indonesia (182%) and Thailand (100%).

However, consumers are now opting for locally produced Soju, rather than imported Soju. Indonesia and Malaysia have introduced Halal Soju, a non-alcoholic Soju but in Soju’s iconic green bottle. This caters to the Halal consumer’s demand, as well as a rapid growth for Soju in these markets.

Sunny Moon, research manager at Euromonitor International, said, “Beyond watching Korean content and travelling to Korea, consumers also incorporate K-products into their daily lives. However, they eventually prefer local products that align with local preference.”

She added, “Consumers’ Korean-craze consumption continues in their home countries. To meet growing consumer demand, brands are embracing the K-wave by appointing K-pop stars as brand ambassadors, even featuring Hangeul, the Korean alphabet, on product labels.”