Ministry selects 188 firms for K-export strategy program backed by CJ Olive Young, Musinsa

South Korea's Ministry of SMEs and Startups has selected 188 companies across four consumer goods sectors — beauty, fashion, lifestyle and food — for its K-export strategy product program targeting overseas markets. A total of 983 companies applied, a competition ratio of roughly 5.2 to 1, with 19.1 percent of applicants making the final cut.

The ministry announced Tuesday it had chosen the 188 firms as beneficiaries of its 2026 K-Export Strategy Product Development Program.

The program identifies domestic consumer goods with strong growth potential and rising overseas demand, then supports their entry into foreign distribution networks and export expansion.

The program has grown steadily since its launch. The ministry first selected 30 companies in the beauty and food sectors in 2024, expanded to 80 firms the following year by adding fashion and lifestyle categories, and has now reached 188 selections this year. The cumulative total across three years stands at 298 companies.

This year, foreign consumers and global distribution experts evaluated applicants on innovation, global scalability and local competitiveness to determine the final list of supported companies.

In the beauty category, Paquet — operator of the skincare brand Miksoon — was among those selected. The company has entered the United States, Japan and Southeast Asian markets with products including a fermented soybean extract essence, and plans to expand sales into Europe and Latin America.

In the lifestyle category, Cocodor made the list. The company exports home fragrance products such as diffusers to more than 60 countries, with annual exports of around 10 billion won ($7.38 million). It plans to deepen its push into the global home fragrance market, drawing on its proprietary fragrance-blending technology and automated production facilities.

Selected companies will receive sector-specific overseas expansion programs leveraging the infrastructure and networks of private retail partners. CJ Olive Young and Shinsegae department store will support the beauty category, Shinsegae and Musinsa the fashion category, G-market the lifestyle category, and Lotte Mart the food category.

Selected firms will also receive priority access to the K-Brand Global Expansion Project and preferential treatment in government export support programs, including export vouchers, overseas certification assistance, and participation in international trade fairs and business consultations.

"K-consumer goods, led by K-beauty, are establishing themselves as a new export engine," said Shim Jae-yun, the ministry's director general for global growth policy. "We will strengthen policy support so that the products of selected companies can grow into popular items representing Korea on the world stage."