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World Traveler
Joined: 29 May 2009
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 Posted: Mon Dec 26, 2011 7:13 am Post subject: Demand for luxury goods still high in Korea |
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Koreans' fervor for luxury goods shows no sign of waning and some people appear willing to become tax dodgers to purchase high-end items at cheaper prices.
With luxury brands sticking to a premium pricing policy in the profiting Korean market, a growing number of local consumers are turning to their European outlets.
"Considering tax refunds I received at the airport in Paris, I feel I have earned a flight ticket to there," Lee said. There was almost a 1 million won difference in the prices of Lee's Chanel bag sold in Paris and those sold in Seoul. |
http://www.asiaone.com/News/Latest%2BNews/Plush/Story/A1Story20111226-318214.html
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| One of the newest tricks is reporting a fake item as their own before leaving the country. Then, the traveler purchases an original one abroad and passes through the customs in Korea without further checkups. |
These bags are expensive. This is madness!
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| In the case of the steady-seller 2.55 quilted bag, it sells for 6.07 million won in Korea, while its US and France prices stand at 4.85 million won and 4.71 million won, respectively. |
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cdninkorea
Joined: 27 Jan 2006
Location: Seoul
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| Posted: Tue Jan 03, 2012 6:55 am Post subject: |
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I'm surprised, with the Internet causing such a flow of information around the world, that Korean consumers tolerate such high prices for goods that are easily transportable (e.g. there's little they can do about the higher prices of Lexus in Korea compared to elsewhere, but a purse can be brought into the country easily). Or maybe pre-Internet luxury goods were even more expensive here compared to elsewhere?
Anyway, no surprise that there's still such a high demand for luxury goods in Korea. |
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Swampfox10mm
Joined: 24 Mar 2011
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| Posted: Tue Jan 03, 2012 8:08 pm Post subject: |
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| It is Chaebol milking of the population that causes the high prices. |
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