Luxury Good Imports Post Record High in 2012
Despite the prolonged economic slump, Korea's appetite for luxury goods seems insatiable.
The Korea Custom's Office says last year the import of luxury goods like wristwatches and bags reached an all-time high, mounting up to 8.6 billion dollars up nearly 3 percent from 2011.
Imported garments accounted for roughly 70 percent of all luxury items, the highest of all luxury goods, and topped 6 billions dollars.
The customs office says the high demand for luxury goods is likely to remain strong with signs of the economy recovering down the road.
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