According to a recent report by McKinsey, luxury sales are set to remain resilient in South Korea in the future, as high-end goods are rapidly becoming “part of the fabric of life.”

The country currently accounts for 4% of the luxury sector’s returns worldwide, or approximately 3 billion Euros a year.

The revenues generated by domestic department store chains, the primary channel when it comes to acquiring offerings from firms like LVMH and Hermes, rose by 16.7% in 2008–09, despite the recession

During that period only 5% of wealthy individuals felt guilty about the amount they spent on expensive purchases, measured against 10% to 15% in other developed economies.

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