New Delhi, 17 October 2024: The Industrial Front has started the K-Front to meet the growing demand for South Korean trends in India. From K-pop to K-dramas, Korean noodles to Korean cuisine, and Korean soft toys to Korean clothing, India increasingly shows interest in Korean culture. This Korean wave or Hallyu shows a significant gap between demand and supply of Korean products in India. In this way, K-Front can open doors for development for many Korean MSMEs or startups in India. However, it is easier said than done. As you work on a small scale, expanding becomes equally challenging. K-Front will help these Korean MSMEs or startups overcome expansion challenges in India.
Editors of the Industrial Front had discussions with several MSMEs and startups in Korea. From there, they learned about some of the main challenges faced by Korean businesses in India. One of these challenges is understanding and balancing the Indian-Korean cultural differences. While there is demand for Korean cultural products in India, Korean MSMEs often struggle to take them to a high level in Indian markets due to language barriers. Additionally, they often have to deal with high production costs and low margins, reducing their profitability levels in India.
Due to high costs, Korean startups and MSMEs often face challenges in entering the market. Along with this, hiring skilled talent and establishing strong supply chain management is also challenging. K-Front tackles these challenges and helps Korean startups with cost-effective strategies for market entry. Additionally, K-Front aims to build strong relationships between Korean and Indian businesses. It provides cost-effective solutions to enhance the profitability of Korean business partners.
If we talk about Current Korean trends in India, the following MSMEs can have the most benefit in Indian markets:
- Food industry: The Korean food industry is growing in India. People are showing interest in various dishes and Korean cuisine across the country.
- Makeup: A lot of people over social media try doing Korean makeup. Indian people show more interest in knowing about Korean makeup and fashion techniques.
- Clothing: Indian dresses for women are following a trend now. Along with this, K-pop’s dressing style is already prominent among the audience.
There are many more on the list. K-Front is addressing the needs of:
- the individuals/companies/organisations who have an existing growing businesses in Korea and looking for expansion in India.
- individuals/companies/organizations in India who wish to expand in Korea.
About Industrial Front
Industrial Front is a leading business newspaper in India. It is not just a newspaper, but a commitment to provide tips that will help you grow in business. Industrial Front strives to cover all new government policies and their impact on businesses. It discusses topics such as textiles, paints and chemicals, technology, artificial intelligence, and more. Industrial Front keeps updating MSMEs with the latest schemes and benefits that will help accelerate their business.