SEOUL — The South Korean luxury goods market is showing signs of a slowdown but industry observers stress that the market, Asia’s third largest after China and Japan, remains an important one in the long term.
Consumers in South Korea are expected to spend about 7.77 trillion won, or $6.96 billion at average exchange, on luxury goods this year compared to 7.25 trillion won, or $6.53 billion in 2012, according to Benedicte Dia at Euromonitor International.
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