Published : 2013-10-16 17:41
Updated : 2013-10-16 17:41
South Korea customers pay four to six times more for foreign cosmetics than the original imported price, data showed Wednesday.
“Experts say the quality is indiscernible but customers choosing high-end foreign brands over domestic products are continually on the rise,” said Rep. Kim Hyun-sook, citing data from the Ministry of Food and Drug Safety.
At Korean stores, Japanese beauty brand SK-II‘s “Facial Treatment Essence” was sold at 199,000 won ($206), nearly four times more expensive than its 51,145 won import price including tariff. Physiogel Cream from Germany was sold at 33,600 won, compared to its original price of 8,134 won.
The fragrance market is no exception as consumers must pay a hefty 90,000 won for “Bvulgari Omnia Amethyste Eau de Toilette,” when its import price is 15,917 won including tariff. The price of Chanel’s “Coco de Mademoiselle Eau de Parfum” is 193,000 won, five times higher than the import price of 41,105 won.
Records of customs clearance showed 1.4 trillion won worth of cosmetics were brought into Korea this year, compared to last year’s 770 billion won.
By Yoon Ha-youn, Intern reporter (email@example.com)