South Korean brands surge into India via JVs, investments in soju, beauty, foods amid K-wave boom

Core Insights - South Korea's Jinro has signed a distribution partnership in India with Monika Alcobev to capitalize on the growing Korean wave in the Indian market [1][4][6] - The K-beauty market in India is projected to grow significantly, from $0.4 billion in 2024 to $1.5 billion by 2030, with the buyer base expected to expand from 11.9 million to 27 million [5][6] Company Developments - Jinro, Korea's top-selling soju brand, reported global sales of 96.8 million cases last year and is entering the Indian market to tap into the influence of K-culture [4][6] - Cosmax is establishing a local corporation in Mumbai by the end of this year to develop color cosmetics targeting Gen Z consumers in India [1][6] - Lotte Wellfood plans to invest $300 million in India over the next three to five years to expand its capacity and supply chain following the merger of its Indian subsidiaries [4][6] Market Trends - The Korean wave is influencing Indian consumer choices across various categories, including alcohol, beauty, foods, and cigarettes [6] - The demand for soju, a low-alcohol vodka, is increasing as it becomes one of the fastest-growing premium spirit categories in India [4][6] - Major companies like ITC and Hindustan Unilever have already begun to capitalize on the Korean wave by introducing Korean-flavored food products [6]