According to the latest statistics from the Ministry of Trade, Industry and Resources of the Republic of Korea (MOTIR) and the Korea Importers Association (KOIMA), Korean imports increased by 20.8% year-on-year in May 2026 to USD 60.8 billion, confirming an acceleration compared to April’s pace. The main trend was a 15.9% increase in energy imports to USD 11.8 billion, reflecting primarily higher oil prices and tensions in the Middle East. Even more dynamic was non-energy import growth, which rose by 22% to USD 49.1 billion. The most significant increases were recorded in petroleum products and semiconductor manufacturing equipment, both up by 71%, indicating a combination of pricing pressures, replenishment of industrial inputs, and continued investment in the semiconductor sector. The overall import picture is therefore not merely a story of expensive energy, but also one of strong technological and manufacturing demand. According to data from the Korean Ministry of Data and Statistics, online sales in May 2026 increased by 10% year-on-year to approximately USD 16 billion. This was also the second-highest monthly figure since the statistics began to be compiled in 2017. The main driver of growth was consumer spending on everyday goods, particularly food and cosmetics. Spending on food products, including agricultural and fisheries products, rose by 12.5% to approximately USD 3.1 billion, while spending on cosmetics surged by 36.6% to around USD 1 billion.

To achieve genuine success in the South Korean market, it is essential to have a direct presence in the country, either through a local branch office or a trusted Korean partner. Foreign companies often face industry-specific standards, a less transparent regulatory environment, strong domestic competition, and pressure on pricing. Additional barriers include the language gap and time-consuming import procedures. Strict import regulations, testing requirements, and protectionist measures also represent significant challenges, particularly in the agricultural and food sectors. Nevertheless, Czech companies may find opportunities not only directly in the Korean market but also through cooperation with local partners when entering third-country markets. Finally, it is important to take into account the influence of local business associations, such as the Korea Importers Association (KOIMA), the Korea Chamber of Commerce and Industry (KCCI), and the Korea International Trade Association (KITA).

The 23rd edition of Korea Import Expo, formerly known as Korea Import Fair, welcomed nearly 170 stands and exhibitors from 36 countries this year. The event is traditionally organized by the Korea Importers Association and generally covers the full spectrum of imported products, although one of the most notable trends this year was the emphasis on premium food and beverages. Through an economic diplomacy project financed by the Ministry of Industry and Trade of the Czech Republic, the Embassy of the Czech Republic in Seoul, in cooperation with the CzechTrade office, organized a Czech national stand, which was presented as part of the European Union pavilion. The Czech section was the largest in the entire EU pavilion, thanks to the strong representation of nine Czech brands. Visitors could find products such as beer and soft drinks, chocolate and other confectionery, as well as supplements supporting a healthy lifestyle. The Czech participation was also supported by Ambassador Ivan Jančárek, who attended the event.

Further information on this topic may be obtained from the links below:

1. Korea Import Expo: https://www.koimakif.com/kr/index.do
2. Korea Importers Association: https://eng.koima.or.kr/koima_net/index.do
3. Korea Customs Service: https://www.customs.go.kr/english/main.do

Korea Import Expo 2026

Korea Import Expo

Companies interested in this market may contact the Commercial Section of the Embassy of the Czech Republic in Seoul at: seoul.commerce@mzv.gov.cz.

Jakub Kopecký, Economic Diplomat, Embassy of the Czech Republic in Seoul