How Second-Hand Trading Platforms Are Shaping K-Pop Fan Culture – What Agencies Are Missing

The cultural and economic activities of K-Pop fandoms are expanding to new levels through second-hand trading platforms. Official merchandise such as idol lightsticks, photo cards, dolls, and keychains has become central to these markets, fostering a self-driven ecosystem of consumption and reproduction among fans.

According to 2025 statistics from the second-hand trading service “Beonghwa Jangtore,” the category with the highest number of transactions in South Korea was “boy group goods.” This figure far exceeds those of “figurines” in second place and “men’s upper clothing” in third place. Interestingly, Beonghwa Jangtore’s favorite items feature often serves as a symbol of desire unrelated to actual transactions. The virtual boy group “PLAVE” rose from fifth place on the favorite items list in 2024 to third place in 2025, reflecting the growing momentum of virtual idols. In 2025, the boy group goods most frequently traded by users aged 20–30 were those related to PLAVE and the rock band “DAY6,” demonstrating a direct correlation between the popularity of K-bands and second-hand transaction volumes.

This growth is also spreading to global markets. Upon accessing Beonghwa Jangtore’s global service, “Beonjang Global,” a “K-Wiki” glossary designed for international users comes to the forefront. It includes terms commonly used by Korean fans in second-hand trading posts and online communities. Foreign fans learn about and experience Korean second-hand trading culture through terms such as “geupcheo” (urgent sale), “neutdeok” (fan who joins fandom later during an artist’s active period rather than at the debut stage), “kulgeo” (cool transaction), and “geopha” (cancellation of a transaction).

However, entertainment agencies are failing to properly grasp this growth in the fan market. SM Entertainment emphasized an IP business strategy as part of its 2026 future strategy announcement aimed at K-Pop fandoms. Key components included offering various events at concert venues, improving online queueing and pre-order functions, and enhancing convenience for purchasing artists’ MD (merchandise). SM defined MD as “not merely products but mediums through which fans can experience an artist’s worldview.”

An example of SM’s successful IP utilization is the character “We Little Rise,” designed by members of RIIZE. Over 12,000 people visited pop-up stores featuring this character, and it also appeared in the music video for a track from their subsequent album. Yet SM’s proposed future IP strategies remain focused solely from a supplier’s perspective, not that of fans. Although they discuss improving fan experiences, there is no attempt to analyze the current context or limitations of such experiences.

Today, Beonghwa Jangtore has become a space where fans voluntarily consume and reproduce IP, actively working to increase connections with international fandoms. In contrast, entertainment agencies still struggle to move beyond their traditional approach of mass-producing goods for the market. Agencies are yet to recognize the evolution in fan culture that second-hand trading services have already identified.