26 Dec '11, 7am

Demand for luxury goods still high in Korea: Considering that overseas travel increased about 4 per cent this ye...

Demand for luxury goods still high in Korea: Considering that overseas travel increased about 4 per cent this ye...

The Korea Herald/Asia News Network Monday, Dec 26, 2011 Lee, a 29-year-old office worker, breathed a sigh of relief recently after she passed through the arrival gate at the Incheon International Airport without any tussle with customs officials. Coming back from a business trip to Paris, she was carrying a 1,660 euro ($2,800) Chanel bag within her luggage. But she didn't report to customs the luxury item in excess of the $400 duty free allowance. "Because it's a random check-up, I wanted to avoid paying taxes if possible," she said, declining to give her full name. "If I had had to pay the taxes, it would have been OK because my purchase in Paris is still far cheaper than here." Koreans' fervor for luxury goods shows no sign of waning and some people appear willing to become tax dodgers to purchase high-end items at cheaper prices. With luxury brands sticking to a premium...

Full article: http://www.asiaone.com/News/Latest%2BNews/Plush/Story/A1S...

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asiaone.com 27 Dec '11, 1am

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