Whether you’re already selling in Korea or just exploring it, understanding the retail landscape and how it shapes consumer behavior is critical.
Last weekend, during a meeting with a 9-figure FMCG brand, the international director asked me this exact question “What’s the #1 retailer in Korea?”
And I realized — even brands already in the Korean market often don’t fully understand how fast things shift here, or which retailers are truly driving traction today.
- who’s leading the market right now,
- who’s falling behind, and
- who’s rising fast.
Let’s get into it.
How Coupang Stays #1 in Korea
Even though Coupang recently increased the fee of its Wow Membership, their revenue continues to grow.
Its fast delivery service, along with additional benefits like Coupang Eats and Coupang Play, plays a significant role in boosting revenue.
Right now, Coupang generates US$22.4 billion in revenue (2024).
Brick-and-Mortar Retail (2024 Ranking)
- E-Mart
- Hanaro Mart
- Costco
- Homeplus
- Lotte Mart
If you’d like to learn more about how Costco conquered global markets, read more here.
Retailer in Crisis: Homeplus
Homeplus recently faced financial struggles and a bankruptcy crisis by filing for corporate rehabilitation (court receivership) on March 4, 2025.
They continue to execute massive discount events to sell off inventory, attract customers, and survive. The court’s decision on rehabilitation is still pending.
Uprising Retailer: Daiso
Daiso generated ₩4 trillion (approximately US$2.9 billion) in revenue last year, and is now seen as a rising retail giant.
Following its success, Daiso announced it will focus more on online mall sales and has started holiday-delivery services to all regions of Korea — with same-day delivery under consideration, just like Coupang.
They also had a brief hit with supplements at extremely affordable prices, which disrupted the pharmaceutical market. However, sales were paused due to strong criticism from pharmacists questioning the pricing and ingredient quality.
Strategic Alliance: Naver Shopping x Market Kurly
In April 2025, Naver Shopping and Market Kurly announced a strategic partnership.
- Netflix subscription
- Free delivery via Yogiyo (food delivery app)
- 5% mileage points for Naver Shopping purchases
- Free returns and more
The Unbeatable H&B Retailer: Olive Young
Olive Young remains the #1 health & beauty retailer in Korea.
Although Beauty Kurly is trying to catch up, Korean consumers still love Olive Young’s discount events and monthly curated promotions — they’re just too irresistible.
(And yes — I’m planning to go deeper into Olive Young’s marketing strategies in a future post. Stay tuned!)
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Hyein
At HY MARKETING, we help international brands succeed in South Korea, Japan, and English-speaking markets by specializing in tailored social media strategies and local insights.
Feel free to follow us on other social platforms or connect with us for more tailored guidance.
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