War 60 years ago
South Korea is one of the poorest countries in the world.
Today, China is already the 13 largest economy in the world, attracting a large number of luxury goods, not only for tourists, but also for the rich open their wallets.
In fact, this country
The end of the label led to the baptism of Louis Vuitton (LVMH. PA)
It is everywhere, and every few seconds one is found on the streets of the capital, Seoul.
A survey by McKinsey, management consultant
This shows that Koreans are less shy than other Asians in showing off their golden glitter.
Only 26% of respondents said they felt guilty about showing off luxury goods, compared with 49% in Japan and 38% in China.
Now, the fashion awareness of this country with a population of 50 million will be able to buy designer supplies and instant noodles in their 7 local stores
Eleven convenience stores during the New Year holiday.
This is not the first time.
The familiar green and red facade of Eleven offers luxury on every corner.
The chain stocked Gucci shoulder bags and wallets during Thanksgiving in South Korea in September and sold more than expected for the third time.
\"This is a huge success and we are considering extending our luxury gift collection to other accessories in the new year,\" VII-
Zhao Yun, marketing officer-jung. Other mass-
The market also began to enter the game.
In order to meet the needs, the local branch of the British supermarket Tesco Plc (TSCO. L)
Lotte Shopping (part of Lotte Shopping)023530. KS)
Sell Chanel, Prada, Ferragamo and Balenciaga brands.
Gina Ryu, 31, said: \"Many of my friends received one or more Chanel bags as wedding gifts and saw them with one, and I wanted one too
The one-year-old restaurant owner already owns Fendi and Vuitton totes and names Chanel models at Tesco\'s home plus.
The price of Chanel\'s classic flip bag ranges from 5 million won to nearly 7 million won ($6,200)
At the local department store, the groom\'s family often gives new brides.
Chanel boutique by high-end retailer Shinsegae\'s (004170. KS)
A store in the luxury area of south Seoul sells goods worth 0. 46 billion won ($406,557)
On the opening day of last year, the secondbiggest single-
Japanese store sales in Korean fashion retail history.
Homeplus caters to some shoppers who are willing to ignore inconvenience such as long wait times and limited ranges.
Retailers get inventory from intermediaries who go to Europe to restockstock.
Homeplus official Ku Do said: \"Our luxury business is small in size and is a secondary participant in the larger luxury market, with the goal of a specific consumer groupyun.
Officials at Gucci, filigamo and Louis Vuitton in Seoul declined to comment like seven-Eleven.
A spokesman for LVMH in Paris also declined to comment.
Luxury sales in South Korea have grown at least 12% a year, estimated at $4.
According to McKinsey, 5 billion in 2010.
In contrast, China takes its 1.
Population 3 billion, sales 80 billion yuan ($12. 57 billion)
In the same year.
Part of the reason for this healthy growth is also the boom in South Korea\'s cheap currency and pop drama culture, which has swept across Asia and contributed to the influx of foreign tourists.
The demographic structure also played a role.
Amy King, partner at McKinsey\'s Seoul office, said: \"There are more working women in Korea, higher disposable income, and the emergence of male luxury shoppers who have just opened their eyes . \".
Major department stores such as Lotte and new gae have hired Sino-Japanese translators, and typical Chinese tourists spend about $1,000 on new gae visits, mainly designer goods and designer cosmetics, according to South Korea\'s No. 2 retailer.
\"There are many Chinese tourists --handed.
A salesperson at Lotte department store said: \"Some of them came in, such as what was shown on the model and bought the whole outfit,\" because she was not authorized to talk to the media, so she asked not to be named.
\"Sometimes Chinese tourists come in with a suitcase and fill up the purchases at once,\" she added . \".
Prospects for more tourists from the fast-growing
More and more Asian countries have made Louis Vuitton open its only airport duty free store at Incheon International Airport in South Korea, the main gateway to Seoul.
The average daily sales is about 0. 4 billion won, accounting for 10% of the total daily sales at the airportfree shops.
The number of tourists from mainland China has increased by 16.
From a year ago to October, this year was 5%, while the number of Japanese tourists increased by 5.
6%, according to the Korean Tourism Organization.
\"Considering the quality and price compared to China, Korea is a great place to shop.
I\'m willing to pay.
I spent $1,200 shopping here, even though I feel guilty about it, \"Guo, 53, said on June.
A one-year-old banker from Henan
Koreans are also expanding their luxury habits online, and local banks are more than happy to provide them with special credit cards to fund purchases, raising concerns that the country may get another 2003 credit
A debt crisis. During the so-
In November, Americans spent $7 on what was called the \"Black Friday\" weekend.
Over the same weekend, stores in South Korea increased by 4 billion over 2010, with Koreans flocking to online department stores and boutiques using American goods. S.
Address of friends and family
\"I have a good deal on the shoes and womens tote bags
bags in the USA. S.
Shop online, \"31-
Autumn, who works in the publishing industry, refers to the United States. S.
Designer Brand of iconic cross buckle ring.
\"I had to tighten my belt when the bill arrived next month, but they were cheaper than local stores.
\"In a country where debt and income levels are higher than those in the US before the 2008 credit crisis, Kim will not wait for bills for crazy foreign shopping alone.
South Korea third-
The largest bank with assets, Youli bank 053000.
KS, credit card rewards for more peopleend U. S.
Shopbop retailers are the same.
As part of the Membership Rewards program.
Modern card aged 31
Hyundai Motor has a 5% stake (005380. KS)
Offers \"black\" and \"purple\" for a variety of luxurious lifestyles\"
Black is an invitation-
Only membership cards with an annual fee of 2 million won and additional benefits including brand gift certificates such as Ermenegildo Zegna and Giorgio Armani.
\"I think, as long as you don\'t spend too much (Luxury shopping)is fine.
This is a personal choice . \"ran Kim, a 30-
A government researcher believes
Tank sets aside about 3 million won a year for luxury shopping. ($1 = 1,126. Won 1000)($1 = 6.
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