Luxury brands continue hiking prices in Korea - The Korea Times

Luxury fashion and cosmetics brands are raising product prices in Korea ahead of the summer spending spree, despite a series of hikes over the past few years. Morgan Stanley, a global research firm, said purchases of luxury goods made by Koreans came to $16.8 billion (22 trillion won), last year, up 24 percent from the previous year.

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Soaring demand for luxury products amid the ongoing COVID-19 pandemic has not only profited department stores, but also newly emerging online luxury shopping channels. However, the quality of items sold on the internet has emerged as a source of consumer complaints, according to industry watchers and consumer advocacy groups, Sunday.

Complaints growing over luxury items sold online - The Korea Times

Luxury fashion and beauty labels are turning up the heat this summer, raising product prices in Korea just in time for the seasonal shopping frenzy, despite previous increases over recent years…

Price increases for luxury goods persist in Korea, by Celeste Elle

Bank of Korea stays on hold, price pressures remain

Consumer price index grew 6 percent in June, fanning expectations of a big rate hike by the central bank.

South Korea's inflation hits 24-year high, Business and Economy

High-end brands are becoming more so, once again, starting with a price increase at Hermes.

Luxury brands increase their prices once again

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