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Luxury: in South Korea, more and more fans
Luxury: in South Korea, more and more fans
(franceinfo)
More and more luxury boutiques are setting up shop in Seoul, the South Korean capital. In the country, these very expensive items are increasingly popular with the population, particularly young employees.
They jostle, strut, spy on each other and display themselves with their gold and silver letters on grandiose buildings worth several tens of millions of euros. Major brands have made Seoul, South Korea, their new world luxury capital, easily rivaling Paris, New York (United States), or Shanghai (China). South Koreans are now the largest luxury consumers per capita in the world. Customers are often young, influenced by the omnipotence of phenomenally successful K-pop groups.
305 euros on average per person per year
In the heart of the South Korean capital, in one of these buildings, where young professionals often live, we find major luxury consumers. Many young people spend half their salary on luxury goods. A question of social status, an essential value in South Korea. “It’s better to be presentable, more formal and maybe even more attractive”, says a resident. The South Koreans are today the world champions in the consumption of luxury goods with 305 euros on average per person per year, ahead of the Americans at 262 euros and well ahead of the Chinese at 51.1 euros.
