Even amidst Korea’s low birth rate, the Korean toy market has seen annual growth of 20 percent, and is now a lucrative market with overall annual sales of 700 billion won (US$ 637 million), according to industry experts. (image courtesy of Curiocity of Lenoma/Yonhap)
SEOUL, Feb. 08 (Korea Bizwire) – A pop-up store for ‘kidults’ opened at Lotte Department Store Main Branch in Sogong-dong, Seoul on February 6. The store offers products from Curiocity of Lenoma, a sub brand of the Korean clothing brand Lenoma, and a variety of toys and cutting-edge gadgets for adults looking for fun. Art figures, drones, headphones, perfumes and tool sets are among the products offered.
Even amidst Korea’s low birth rate, the Korean toy market has seen annual growth of 20 percent, and is now a lucrative market with overall annual sales of 700 billion won (US$ 637 million), according to industry experts.
Lego’s The Simpsons™ House, launched in celebration of the 25th anniversary of The Simpsons in 2014, was met with tremendous demand from Korean adults, even though one box was selling for more than 300,000 won (US$ 270).
Kidults’ love for Lego even led to the creation of a new investment tactic called Letech (Lego Investing Technique), a term coined amidst a growing fever for Korean adults to purchase vintage Lego blocks in limited editions as small investment assets. Some editions are even selling for 3 million won (US$ 2,700) on a used market recently created on the Internet. The oldest Lego online community in Korea is now home to about 25,000 members.
By J.W. Choi (summerchoi@koreabizwire.com)
