As K-pop and other aspects of Korean pop culture take root around the world, so-called 'reverse direct purchases'?the sale of secondhand goods overseas, mainly K-pop-related items?are experiencing explosive growth.
On July 20, Yonhap News, citing the secondhand trading platform Bungaejangter, reported that the platform's global transaction volume in the first half of this year increased by 333% compared to the same period last year. The number of transactions jumped by 345%.
The most frequently traded items were idol photo cards. In addition, K-pop-related goods such as dolls and figures, albums and videos, posters and photobooks, clothing and fashion accessories, and cheering tools dominated the top ranks.
The recent global success of the Netflix animated film 'Kpop Demon Hunters' has also contributed to the surge in reverse direct purchases.
This is due to the traditional folk paintings that inspired the characters Tiger (Duffy) and Magpie (Soo-ssi) in Kpop Demon Hunters. Music boxes, bucket hats, and AirPods cases from the National Museum of Korea, featuring these motifs, were traded in the United States, Canada, and Singapore, respectively. Additionally, official souvenirs from the National Museum of Korea, such as pens inspired by the traditional gat, are enjoying unexpected popularity, with sales in countries like the Netherlands.
Riding this trend, Bungaejangter is turning its attention to overseas markets. The company is currently operating the 'Global BunJang' website for international customers and appears to be planning an expansion.
It is also expanding collaborations with global partners in each region, including Japan's popular secondhand trading platform Mercari and eBay, the top player in the US market.
In key regions where transactions are increasing, such as Singapore, the company is reportedly pursuing strategies to reach consumers through media exposure and other means.
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