South Korea Luxury Watch Market Size, Share, and COVID-19 Impact Analysis, By product (Mechanical and Electronic), By Distribution Channel (Online and Offline), and Japan Electrodeposited Copper Foils Market Insights, Industry Trend, Forecasts to 2035

South Korea Luxury Watch Market Size Insights Forecasts to 2035

• The South Korea Luxury Watch Market Size was estimated at USD 2,167.3 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 4.81% from 2025 to 2035
• The South Korea Luxury Watch Market Size Is Expected to Reach USD 3,632.4 Million by 2035

According to a Research Report Published by Spherical Insights & Consulting, the South Korea Luxury Watch Market Size is anticipated to reach USD 3,632.4 million by 2035, growing at a CAGR of 4.81% from 2025 to 2035. Some of the major market trends in the area include rising investment value, successful marketing, the introduction of cutting-edge technology, and product innovation.

Market Overview

The market for luxury watches in South Korea is the area of the retail sector devoted to expensive watches that blend exclusivity, prestige, and fine craftsmanship. This includes high-end models from domestic manufacturers as well as mechanical and electronic luxury timepieces, which are frequently made by well-known international brands like Hublot, TAG Heuer, Omega, and Rolex. Additionally, Rising South Korean watchmakers are becoming more well-known for their unique aesthetics, fine engineering, and affordable prices. By combining modern design with fine watchmaking, these companies are establishing a distinct market. Furthermore, customers who care about the environment will benefit from brands talking more about ethical sourcing and environmentally friendly production as a result of the growing significance of sustainable practices in luxury goods. Communities of watch enthusiasts and collector networks support the growing interest in unique models, fostering an exclusive culture. Personalized services and pop-up boutiques are examples of in-person experiential marketing strategies that further engage high-net-worth individuals. Demand is further fueled by the expansion of secondary markets where rare and vintage watches are becoming more popular.

Report Coverage

This research report categorizes the market for the South Korea luxury watch market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea luxury watch market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea luxury watch market.

Driving Factors

Luxury watches are becoming more and more popular as a way to display one's success, style, and social standing as more young professionals and business owners in South Korea, particularly millennials and Gen Z, see an increase in their disposable income. These watches, which combine craftsmanship, tradition, and modern design, are seen as lifestyle statements rather than merely accessories.

Restraining Factors

Online sales are increasing, but many luxury brands are still wary of digital platforms because of worries about counterfeiting and brand dilution, which limits accessibility for tech-savvy customers.

Market Segmentation

The South Korea luxury watch market share is classified into product and distribution channel.

• The electronic segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea luxury watch market is segmented by product into mechanical and electronic. Among these, the electronic segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. The rate of adoption of wearable technology and smartphones is among the highest in the world in South Korea. Luxury smartwatches, which combine cutting-edge features like GPS, health tracking, and mobile connectivity with elegant design, are attracting more and more customers.

• The offline segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea luxury watch market is segmented by distribution channel into online and offline. Among these, the offline segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. In-store experiences, such as trying on watches, getting individualized attention, and accessing exclusive collections in department stores or luxury boutiques, are frequently preferred by high-end customers. Particularly in affluent areas like gangnam and apgujeong, this tactile, immersive shopping environment continues to be a major factor in offline dominance.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea luxury watch market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Rolex Korea Ltd.
• Swatch Group Korea Ltd
• Richemont Korea
• LVMH Korea
• Samjung Watch Co., Ltd.
• Others

Recent Developments:

• In April 2024, Louis Vuitton announces that it opens its first Watches & Jewelry store in South Korea at the Shinsegae Department Store Gangnam location. The Watches & Jewelry store is located on the second floor of Shinsegae Gangnam, opposite the Louis Vuitton store.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea Luxury Watch Market based on the below-mentioned segments:

South Korea Luxury Watch Market, By product

• Mechanical
• Electronic

South Korea Luxury Watch Market, By Distribution Channel

• Online
• Offline