If you’re a sneakerhead or reseller, then you’re probably aware of the industry’s roots in the US. However, the world caught on to how valuable kicks are, and sneakers became an international phenomenon. Now, we already discussed European and Chinese markets that keep growing by the day. But another market is also on the rise. So today, we’re gonna see what’s poppin’ with sneaker reselling in Korea! The market is certainly growing steadily, so if you live there or wanna benefit from the market, read on.
Sneaker Reselling in Korea – Market Value Growth!
Let’s start with numbers, because who doesn’t like numbers? The sneaker industry in Korea is pretty big. Of course, it’s no US, but it certainly witnessed some interesting growth. According to Statista, the Korean sneaker market currently generates $0.96B in revenue. (Side note: The US generates around $22B.) Oh, and here’s the kicker, market projections show that the industry will witness yearly growth of %4.3 between 2023 and 2028.
But that’s just sneakers, and we didn’t tap into the resale market. In fact, the Korean resale market is worth about $346.2 million. Of course, that includes more than sneakers. So, now that we already have industry facts, let’s take a deep dive into sneaker reselling in Korea. How, you ask? Well, naturally by checking out the best sneaker resale platforms there!
Sneaker Resale Platforms in Korea
Before we start with our list, we gotta get something out of the way. If you live in Korea, you won’t have any problems with the platforms we’ll show you. However, if you live outside and would like to order, you’ll need a middleman or a plug. Some also call that shopping by proxy, because it’s the middle man that will hook you up with these babies. Another solution can be a reshipping service, so you choose whatever works for you. Now, let’s check out these platforms, shall we?
SoldOut
We’ll start our list with SoldOut, which falls under the umbrella of Musinsa. So, Musinsa itself started out in Korea as a platform for sneakerheads to reproduce the sneaker culture. However, it grew to expand beyond sneakers to become an all-around fashion platform. And in 2020, the company launched SoldOut, a re-commerce platform for all exclusive goods! That’s just a fancy name for resale if you ask us.
And in 2022, the platform raised $33 million to expand its segments. Now, if you’re worried about SoldOut’s legitimacy, don’t. With its professional inspectors, they make sure their goods are authentic. So, it’s pretty legit!
Kream
Naver Corp. started off as a tech company and went way beyond that. You see, the company grew and started investing in other industries. These investments led us to the Kream launch in 2020. Kream is a resale platform for exclusive sneakers and streetwear in South Korea. Although it’s only three years old, the platform quickly became the best in South Korea! In fact, as of 2023, Kream has a market value of $742 million.
Bunjang
So, Bunjang is the Korean equivalent of eBay! Whether you wanna buy used or new items, you’ll find them there. And for the sneakerheads out there, you can find all the kicks you want in different conditions! You can learn how to shop from Bunjang right here. Of course, there’s a wide variety of items beyond sneakers like electronics, K-Pop merch, clothing, collectibles, and more.
StockX
Last but not least, we can’t forget about StockX! The US-based resale platform took global expansion seriously. As part of that expansion, StockX launched in South Korea with an authentication center in 2021. The brick-and-mortar location certainly added to the authenticity of the platform in Korea. If you wanna learn more about StockX fees and so on, we have the answers here.
Now, before we leave, you could be here looking for more options than sneaker reselling in Korea. So, if you’re looking for StockX alternatives, check this out. And if you’re still wondering whether you wanna get into sneaker reselling or not, we get it. You gotta make sure you have what it takes to become a sneaker reseller! But if you’re way past all of that, then maybe you’d like to tap into sneaker botting. After all, sneaker botting and reselling work together to help you make the extra cash. Godspeed!
