The South Korea Watch Market is projected to reach market size of more than USD 6 Billion by 2029, solar-powered options.

In 2023, the clock and watch market in South Korea was worth approximately **** trillion South Korean won, increased from around **** trillion South Korean won in 2014.

The revenue in the 'Watches & Jewelry' segment of the accessories market in South Korea was modeled to stand at ************ U.S. dollars in 2024. Between 2018 and 2024, the revenue rose by *********** U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The revenue will steadily rise by ************ U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Watches & Jewelry.

The revenue is forecast to experience significant growth in all segments in 2029. As part of the positive trend, the revenue achieve the maximum value across all two different segments by the end of the comparison period. Notably, the segment Luxury Watches stands out with the highest value of *** billion U.S. dollars. Find further statistics on other topics such as a comparison of the revenue in France and a comparison of the average revenue per capita in Singapore. The Statista Market Insights cover a broad range of additional markets.

Clocks or Watch Parts Market Size Value Per Capita in South Korea, 2021 Discover more data with ReportLinker!

Forecast: Clocks or Watch Parts Market Size Value in South Korea 2022 - 2026 Discover more data with ReportLinker!

The South Korean market for plastic or non-precious metal watches was finally on the rise to reach $531M in 2024, after five years of decline. Overall, consumption recorded a noticeable descent. Over the period under review, the market hit record highs at $736M in 2018; however, from 2019 to 2024, consumption remained at a lower figure.

Access Asia Pacific Wrist Watch Industry Overview which includes Asia Pacific country analysis of (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC), market split by Products, End Use, Material, Distribution Channel, Functionality, Age Group

South Korea Luxury Goods Market size was valued at USD 7.2 Billion in 2024 and is projected to reach USD 10.2 Billion by 2032, growing at a CAGR of 4.6% from 2025 to 2032Key Market Drivers:Young Consumers' Growing Purchasing Power: South Korea's youthful customers, notably those in their 20s and 30s (known as the MZ generation), are driving luxury purchases. According to Bank of Korea statistics from 2023, the average monthly spending on luxury products by consumers in their twenties climbed by 41% over 2019. According to the Korea Chamber of Commerce and Industry, buyers aged 25 to 34 accounted for 29% of all luxury purchases in 2023.Growth In Single-Person Households: The surge in single-person homes has resulted in more discretionary expenditure on luxury products. According to Statistics Korea, single-person homes accounted for 33.4% of all households in 2023, with these consumers spending 31% more on luxury personal products than persons living in multi-person households.

Watches with Case of Precious Metal or of Metal Clad with Precious Metal Market Size Value Per Capita in South Korea, 2021 Discover more data with ReportLinker!

With ** percent, ******* is the most popular brand for personal smart watches and eHealth or fitness trackers among South Korean consumers. In second place follows ***** with ** percent of respondents. These results are based on a representative online survey conducted in 2025 among 1,169 consumers in South Korea. Looking to gain valuable insights about smartwatch users worldwide? Check out our reports about smartwatch owners across the globe. These reports provide readers with a detailed understanding into smartwatch users, highlighting their demographics, preferences, opinions, and ways to engage with them effectively.

Statistics illustrates market overview of clock or watch parts; plates and bridges in South Korea from 2007 to 2024.

Statistics illustrates market overview of clock or watch parts; springs, including hairsprings in South Korea from 2007 to 2024.

In 2024, the South Korean rough watch movements market decreased by -57.4% to $2.9K, falling for the third year in a row after six years of growth. Overall, consumption, however, posted a modest expansion. Over the period under review, the market attained the maximum level at $48K in 2021; however, from 2022 to 2024, consumption remained at a lower figure.

Luxury Wrist Watch Market Outlook

The global luxury wrist watch market size was valued at approximately USD 25 billion in 2023 and is projected to reach USD 40 billion by 2032, growing at a compound annual growth rate (CAGR) of around 5%. One of the primary growth factors driving this market is the increasing consumer preference for high-quality, aesthetically appealing, and technologically advanced timepieces. The intersection of luxury and technology has rejuvenated the industry, appealing to both traditional watch enthusiasts and a younger, tech-savvy audience.

Growth in the luxury wrist watch market can be attributed to several key factors. Firstly, the increasing disposable income and changing lifestyles of consumers across the globe have led to a higher demand for luxury products, including wristwatches. Consumers are now more inclined towards purchasing luxury items as a symbol of status and personal achievement. Additionally, the rising popularity of limited-edition and bespoke watches has fueled market growth, as collectors and enthusiasts are willing to pay a premium for exclusive timepieces. Furthermore, the integration of advanced technologies such as smart features, augmented reality, and blockchain for authenticity verification has created new growth avenues for the market.

Moreover, the market has benefited from the strong demand in emerging economies. The rising middle-class population and rapid urbanization in countries like China, India, and Brazil have significantly contributed to the market's expansion. These regions are witnessing a shift in consumer behavior, with an increased focus on luxury and aspirational products. Additionally, the growing influence of social media and digital marketing has played a crucial role in creating awareness and driving demand for luxury wristwatches. Influencers and celebrities endorsing luxury watch brands have further propelled market growth by creating aspirational value among consumers.

The evolving preferences of consumers towards sustainable and eco-friendly products have also influenced the luxury wrist watch market. Several luxury watch brands are now focusing on sustainability by using ethically sourced materials, recycling initiatives, and adopting environmentally friendly manufacturing processes. This shift towards sustainability has resonated well with conscious consumers, thereby driving market growth. Additionally, the increasing trend of personalization and customization in luxury watches has gained traction, offering consumers the opportunity to create unique timepieces that reflect their individuality and style.

The intricate details of a luxury wristwatch often lie in its watch movement, which is the heart of the timepiece. Watch movements, also known as calibers, are responsible for the accurate timekeeping and functionality of the watch. There are primarily three types of movements: mechanical, quartz, and automatic. Each type offers distinct advantages and appeals to different segments of watch enthusiasts. Mechanical movements, for instance, are celebrated for their craftsmanship and the skill required to assemble them, often involving hundreds of tiny parts. On the other hand, quartz movements are prized for their precision and low maintenance. The choice of movement can significantly influence a watch's value, functionality, and appeal, making it a crucial consideration for both manufacturers and consumers.

Regionally, North America and Europe have traditionally been the dominant markets for luxury wristwatches, driven by high disposable incomes and a strong affinity for luxury products. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period. The increasing number of affluent consumers, coupled with the growing influence of Western culture, has fueled the demand for luxury wristwatches in countries like China, Japan, and South Korea. Additionally, the presence of a large number of high-net-worth individuals and the expanding retail infrastructure in the region are further driving market growth.

Product Type Analysis

The luxury wrist watch market is segmented by product type into mechanical watches, quartz watches, smart watches, and others. Mechanical watches have long been considered the epitome of luxury due to their intricate craftsmanship and timeless appeal. These watches are often favored by collectors and enthusiasts who appreciate the artistry and precision involved in their creation. The market for

In 2017, imports of watch and clock cases and parts in South Korea amounted to X units, coming down by -X% against the previous year. In general, imports of watch and clock cases and parts continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016, when the imports increased by X% against the previous year.