SEOUL, Aug. 26 (Korea Bizwire) — South Korean overseas direct purchasers are turning towards Japan to enjoy more affordable prices amid the yen’s prolonged weakness.
Shinhan Card Co., a major South Korean credit card company, said the number of settlements made by its customers for overseas direct purchases from Japan during the first seven months of this year marked a year-to-year growth rate of 21 percent, far higher than the 12 percent average growth in overall overseas direct purchase settlements.
The number of settlements made for overseas direct purchases from Japan registered a year-to-year growth rate of 13.7 percent in the first half of this year, according to Malltail, a provider of parcel forwarding services for overseas direct purchases.
Included in the list of the best-selling items favored by those who opted for overseas direct purchases from Japan in the first half of this year were Italian wines Tignanello 2018 and Sassicaia 2018, and Scotch whisky Glenfarclas 105.
American-made Callaway golf clubs and golf gloves have also been popular purchases.
These products are not Japanese products. However, their selling prices are much cheaper in Japan than in South Korea due to the plunge in the yen’s value against the U.S. dollar.
Image Credit: Malltail / email@example.com