SEOUL, Apr. 15 (Korea Bizwire) — Despite a significant drop in sales for major online luxury goods platforms in South Korea due to the economic downturn, the pre-owned luxury market has shown resilience, even setting a record transaction volume last month in line with the start of the new school year, industry data showed on April [...]
SEOUL, Dec. 30 (Korea Bizwire) — With shrinking consumer sentiment and an economy in decline, prices of luxury goods and limited editions of running shoes are plunging. StockX Korea, a local unit of the U.S.-based resale company, said that Nike’s Dunk Low Panda are currently available for 186,000 won (US$147), which is 53 percent cheaper [...]
SEOUL, Sept. 30 (Korea Bizwire) — The rapid growth of the luxury resale market that created a buying boom for luxury items is showing signs of stagnating due to the recent decline in asset prices. According to the resale platform KREAM, Chanel medium classic flap bags were selling at prices ranging from 12-13 million won [...]
SEOUL, Nov. 12 (Korea Bizwire) — The Korean Customs Service (KCS) has launched a crackdown on illegal imports and the resale of imported products until November 28 as transactions via foreign direct purchasing are expected to jump due to China’s annual Singles Day. The KCS will be focusing on the act of reselling products acquired [...]
SEOUL, Jul. 3 (Korea Bizwire) — The resale value of secondhand smartphones a year after their initial purchase was highest for Apple products, followed by phones made by Samsung Electronics and LG Electronics, respectively. This is according to results released yesterday by Good Mobile, which reviewed 4 million data records regarding 19 types of smartphones [...]