The import of refrigerators and freezers into South Korea has shown a general upward trend from 2013, fluctuating but primarily increasing year-on-year. As of 2023, the import value stands at 600.5 million USD. The trend shows moderate growth with significant increases between 2013 and 2023, particularly notable in 2016 and 2021. The recent CAGR over the last five years is 3.69%. Forecasted data from 2024 onwards predict a steady growth, reaching approximately 709.21 million USD by 2028 with an average annual growth rate of 2.59%.
In the short term, key factors include global supply chain stability, technological advancements in energy-efficient appliances, and potential economic shifts affecting consumer demand. Market players should watch for changes in import regulations and evolving consumer preferences towards smart appliances.
