{"id":20047,"date":"2023-06-21T09:50:12","date_gmt":"2023-06-21T00:50:12","guid":{"rendered":"https:\/\/dev.stories.amorepacific.com\/en\/?p=20047"},"modified":"2023-07-12T10:54:10","modified_gmt":"2023-07-12T01:54:10","slug":"the-focused-gaze-of-global-brands-on-south-korea","status":"publish","type":"post","link":"https:\/\/dev.stories.amorepacific.com\/en\/the-focused-gaze-of-global-brands-on-south-korea\/","title":{"rendered":"The Focused Gaze of Global Brands on South Korea"},"content":{"rendered":"<div class=\"wp-post-series-box series-407 wp-post-series-box--expandable\">\n\t\t\t<input id=\"collapsible-series-4076a02a2c19ae41\" class=\"wp-post-series-box__toggle_checkbox\" type=\"checkbox\">\n\t\n\t<label\n\t\tclass=\"wp-post-series-box__label\"\n\t\t\t\t\tfor=\"collapsible-series-4076a02a2c19ae41\"\n\t\t\ttabindex=\"0\"\n\t\t\t\t>\n\t\t<p class=\"wp-post-series-box__name wp-post-series-name\">\n\t\t\tThis is post 2 of 2 in the series <em>&ldquo;Staff Column(Choi HanBit)&rdquo;<\/em>\t\t<\/p>\n\t\t\t<\/label>\n\n\t\t\t<div class=\"wp-post-series-box__posts\">\n\t\t\t<ol>\n\t\t\t\t\t\t\t\t\t<li><a href=\"https:\/\/dev.stories.amorepacific.com\/en\/pinterest-forecast-for-2\/\">Pinterest Forecast for 2023 Trends<\/a><\/li>\n\t\t\t\t\t\t\t\t\t<li><span class=\"wp-post-series-box__current\">The Focused Gaze of Global Brands on South Korea<\/span><\/li>\n\t\t\t\t\t\t\t<\/ol>\n\t\t<\/div>\n\t<\/div>\n<style type=\"text\/css\">\n\t\/* common : S *\/<\/p>\n<p>\t.responsive_column_wrap {\n\t\tmargin: 0;\n\t\tmax-width: 900px;\n\t\tmargin-left: auto;\n\t\tmargin-right: auto;\n\t\tpadding-bottom: 100px;\n\t\tfont-size: 17px;\n\t\tcolor: #555;\n\t\tline-height: 1.65;\n\t\tword-break: keep-all;\n\t}<\/p>\n<p>\t.responsive_column_wrap.zh {\n\t\tword-break: break-all !important;\n\t}<\/p>\n<p>\t.responsive_column_wrap span {\n\t\tmargin: 0;\n\t}<\/p>\n<p>\t.responsive_column_wrap .fw600 {\n\t\tfont-weight: 600;\n\t}<\/p>\n<p>\t.responsive_column_wrap .c111 {\n\t\tcolor: #111;\n\t}<\/p>\n<p>\t.responsive_column_wrap .ptc01 {\n\t\tcolor: #63caf5;\n\t}<\/p>\n<p>\t.responsive_column_wrap .ptc02 {\n\t\tcolor: #30aadd;\n\t}<\/p>\n<p>\t.responsive_column_wrap .fz18 {\n\t\tfont-size: 18px;\n\t}<\/p>\n<p>\t.responsive_column_wrap .fz20 {\n\t\tfont-size: 20px;\n\t}<\/p>\n<p>\t.responsive_column_wrap .under {\n\t\ttext-decoration: underline;\n\t}<\/p>\n<p>\t.responsive_column_wrap .italic {\n\t\tfont-style: italic;\n\t}<\/p>\n<p>\t.responsive_column_wrap .taL {\n\t\ttext-align: left;\n\t}<\/p>\n<p>\t.responsive_column_wrap .taR {\n\t\ttext-align: right;\n\t}<\/p>\n<p>\t.responsive_column_wrap .taC {\n\t\ttext-align: center;\n\t}<\/p>\n<p>\t.responsive_column_wrap .inner30 {\n\t\tmargin-left: 30px;\n\t\tmargin-right: 30px;\n\t}<\/p>\n<p>\t.responsive_column_wrap .inner50 {\n\t\tmargin-left: 50px;\n\t\tmargin-right: 50px;\n\t}<\/p>\n<p>\t.responsive_column_wrap .hash_text {\n\t\tfont-size: 18px;\n\t\tfont-weight: 600;\n\t\tletter-spacing: -0.02em;\n\t\tcolor: #111;\n\t}<\/p>\n<p>\t.responsive_column_wrap .gray_text {\n\t\tcolor: #999999;\n\t}<\/p>\n<p>\t.responsive_column_wrap .bold_gray_text {\n\t\tfont-weight: bold;\n\t}<\/p>\n<p>\t.responsive_column_wrap .img_area>div {\n\t\tmargin: 0 auto;\n\t}<\/p>\n<p>\t.responsive_column_wrap .img_area .img_desc {\n\t\tdisplay: block;\n\t\tpadding: 5px 10px;\n\t\tfont-size: 12px;\n\t\ttext-align: center;\n\t\tcolor: #888;\n\t\tbackground: #fff;\n\t\tline-height: 25px;\n\t}<\/p>\n<p>\t.responsive_column_wrap .box_area {\n\t\tmargin: 0 30px;\n\t\tpadding: 30px;\n\t\tborder: 1px solid #c0c0c0;\n\t\tbox-sizing: border-box;\n\t\tline-height: 1.7;\n\t}<\/p>\n<p>\t.responsive_column_wrap .video_area {\n\t\tposition: relative;\n\t}<\/p>\n<p>\t.responsive_column_wrap .video_area iframe {\n\t\tposition: absolute;\n\t\ttop: 0;\n\t\tleft: 0;\n\t\twidth: 100%;\n\t\theight: 100%;\n\t}<\/p>\n<p>\t.responsive_column_wrap .img_area .img_box.flex {\n\t\tmax-width: 800px;\n\t\tmargin: 0 auto;\n\t\tdisplay: flex;\n\t\tjustify-content: space-between;\n\t\talign-items: flex-start;\n\t}<\/p>\n<p>\t.responsive_column_wrap .img_area .img_box.flex div {\n\t\tmargin-left: 5px;\n\t}<\/p>\n<p>\t.responsive_column_wrap .img_area .img_box.flex div:first-child {\n\t\tmargin-left: 0;\n\t}\n\t\/* common : E *\/<\/p>\n<p>\t.responsive_column_wrap .mem_column_tit {\n\t\tmargin: 0 30px 80px 30px;\n\t}<\/p>\n<p>\t.responsive_column_wrap .mem_column_tit .top_text {\n\t\tcolor: #373737;\n\t\tfont-size: 18px;\n\t}<\/p>\n<p>\t.responsive_column_wrap .mem_column_tit .tit_text {\n\t\tmargin: 70px 0 35px 0;\n\t\tcolor: #7c7c7c;\n\t\tfont-size: 30px;\n\t\ttext-align: center;\n\t\tline-height: 1.25;\n\t\tletter-spacing: -0.03em;\n\t}<\/p>\n<p>\t.responsive_column_wrap .mem_column_tit .tit_text .big {\n\t\tcolor: #30abde;\n\t\tfont-size: 36px;\n\t\tletter-spacing: -0.03em;\n\t}<\/p>\n<p>\t.responsive_column_wrap .mem_column_tit .columnist {\n\t\ttext-align: center;\n\t}<\/p>\n<p>\t.responsive_column_wrap .mem_column_tit .columnist .img {\n\t\tposition: relative;\n\t}<\/p>\n<p>\t.responsive_column_wrap .mem_column_tit .columnist .img img {\n\t\twidth: 72px;\n\t\tmargin: 0 auto;\n\t}<\/p>\n<p>\t.responsive_column_wrap .mem_column_tit .columnist .img::after {\n\t\tcontent: '';\n\t\tposition: absolute;\n\t\twidth: 100%;\n\t\theight: 1px;\n\t\tbackground-color: #e7e7e7;\n\t\ttop: 50%;\n\t\tleft: 50%;\n\t\ttransform: translate(-50%, -50%);\n\t\tz-index: -1;\n\t}<\/p>\n<p>\t.responsive_column_wrap .mem_column_tit .columnist .name {\n\t\tmargin-top: 15px;\n\t\tcolor: #373737;\n\t}<\/p>\n<p>\t.responsive_column_wrap .mem_column_tit .columnist .name .bar {\n\t\tdisplay: inline-block;\n\t\tcolor: #bdbdbd;\n\t\tmargin: 0 10px;\n\t}<\/p>\n<p>\t.responsive_column_wrap .sub_tit {\n\t\tfont-size: 26px;\n\t\tfont-weight: 600;\n\t\tcolor: #009cc0;\n\t\tletter-spacing: -0.02em;\n\t\tline-height: 1.08;\n\t}<\/p>\n<p>\t.responsive_column_wrap .sub_tit sup {\n\t\tfont-size: 12px;\n\t}<\/p>\n<p>\t.responsive_column_wrap .round_txt P {\n\t\tdisplay: inline-block;\n\t\tcolor: #30aadd !important;\n\t\tfont-size: 26px !important;\n\t\tfont-weight: 700 !important;\n\t\ttext-align: center;\n\t\tline-height: 1.2!important;\n\t}<\/p>\n<p>\t.responsive_column_wrap .round_txt span {\n\t\tdisplay: inline-block;\n\t\twidth: 25px;\n\t\theight: 25px;\n\t\tmargin: 0 auto;\n\t\tmargin-right: 5px;\n\t\tborder-radius: 50%;\n\t\tbackground: #63caf5;\n\t\ttext-align: center;\n\t\tfont-size: 16px;\n\t\tcolor: #fff;\n\t\tline-height: 25px;\n\t\tvertical-align: text-bottom;\n\t}<\/p>\n<p>\t.responsive_column_wrap .line {\n\t\twidth: 100%;\n\t\theight: 1px;\n\t\tbackground: #888;\n\t}<\/p>\n<p>\t.responsive_column_wrap .link {\n\t\tcolor: #0029FF;\n\t}<\/p>\n<p>\t@media (max-width:768px) {\n\t\t\/* common : S *\/\n\t\t.responsive_column_wrap {\n\t\t\tpadding-bottom: 50px;\n\t\t}\n\t\t.responsive_column_wrap .inner30,\n\t\t.responsive_column_wrap .inner50 {\n\t\t\tmargin-left: 0;\n\t\t\tmargin-right: 0;\n\t\t}\n\t\t.responsive_column_wrap .box_area {\n\t\t\tmargin: 0;\n\t\t\tpadding: 15px;\n\t\t}\n\t\t\/* common : E *\/\n\t\t.responsive_column_wrap .mem_column_tit {\n\t\t\tmargin: 0 0 40px 0;\n\t\t}\n\t\t.responsive_column_wrap .mem_column_tit .tit_text {\n\t\t\tmargin: 35px 0 15px 0;\n\t\t}\n\t\t.responsive_column_wrap .img_area .img_box.flex {\n\t\t\tmargin: 0 auto;\n\t\t\tdisplay: block;\n\t\t\ttext-align: center;\n\t\t}\n\t\t.responsive_column_wrap .img_area .img_box.flex div {\n\t\t\tdisplay: inline-block;\n\t\t\tmargin-bottom: 10px\n\t\t}\n\t}\n<\/style>\n<div class=\"responsive_column_wrap\">\n<div class=\"mem_column_tit\">\n<p class=\"top_text\">\n\t\t\t<span class=\"fw600\">Columnist<\/span><br \/>\n\t\t\t| Introducing the columns written by member of Amorepacific Group\n\t\t<\/p>\n<div class=\"tit_text\">Casual Trend Insights<br \/>\n\t\t\t<\/p>\n<p>\t\t\t<em class=\"big fw600\">Part 2. The Focused Gaze of Global Brands on South Korea<\/em>\n\t\t<\/div>\n<div class=\"columnist\">\n<div class=\"img\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dev.stories.amorepacific.com\/en\/wp-content\/uploads\/sites\/2\/2023\/07\/9e4252e0-5c37-47e3-85b6-b3c37822d13c.png\" alt=\"profile\"><\/p><\/div>\n<div class=\"name fz18\">\n\t\t\t\t<span class=\"fw600\">Columnist<\/span><br \/>\n\t\t\t\t<span class=\"bar\">|<\/span><br \/>\n\t\t\t\tChoi HanBit<br \/>\n\t\t\t\t<br \/>\n\t\t\t\tAmorepacific HERA MC Team\n\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>\tIn recent times, K-content&#8217;s enhanced stature within the global market has piqued the interest of numerous worldwide luxury brands, with their collective gaze now being increasingly fixated on South Korea. Such popular brands see South Korea as a prospective<br \/>\n\ttesting ground for the burgeoning Asia-Pacific market. Within this part, we delve into the intricate methods by which these global entities are taking note of the Korean market.<\/p>\n<p><\/p>\n<div class=\"text_area  inner30\">\n<p class=\"sub_tit taC\">The Advent of an Era of National Luxury<\/p>\n<\/p><\/div>\n<p><\/p>\n<div class=\"text_area inner30\"> The year 2022 bore witness to an unprecedented surge within the South Korean department store industry. Revenue generated by the Shinsegae Department Store&#8217;s Gangnam branch soared to an estimated 2.85 trillion won, while the Lotte Department Store&#8217;s<br \/>\n\t\tJamsil branch reported an equally impressive, estimated figure of 2.4 trillion won. Nationwide, an astonishing 11 branches eclipsed the 1 trillion won threshold in sales. Of particular note was the revenue of Shinsegae&#8217;s Gangnam branch, which surpassed<br \/>\n\t\tglobally renowned counterparts, including France&#8217;s Galeries Lafayette in Paris and Japan&#8217;s Isetan Shinjuku in Tokyo. Industry insiders attribute this explosive sales growth to the formidable power of &#8220;Her-Lou-Cha&#8221; (Hermes, Louis Vuitton, Chanel). Indeed,<br \/>\n\t\twith the proportion of luxury sales forming part of Shinsegae Department Store&#8217;s total revenue escalating from roughly 16% in 2019 to 25% in 2021, and further rising to approximately 26% in 2022, it&#8217;s no exaggeration to assert that South Korea has effectively<br \/>\n\t\ttransformed into a veritable republic of luxury. The size of the Korean luxury market currently ranks 7th globally, and last year, per capita luxury consumption exceeded that of China, placing Korea at the pinnacle of worldwide rankings (*Source: Morgan<br \/>\n\t\tStanley). This trend is shown vividly in phrases capturing the recent public sentiment, such as &#8220;Chanel Homeless Run&#8221; and &#8220;Luxury is cheapest today,&#8221; which encapsulate the fervor of the domestic luxury consumption market. <\/div>\n<div class=\"text_area inner30\">\n\tIn recent times, K-content&#8217;s enhanced stature within the global market has piqued the interest of numerous worldwide luxury brands, with their collective gaze now being increasingly fixated on South Korea. Such popular brands see South Korea as a prospective<br \/>\n\t\ttesting ground for the burgeoning Asia-Pacific market. Within this part, we delve into the intricate methods by which these global entities are taking note of the Korean market. <\/div>\n<p><\/p>\n<div class=\"text_area inner30\">\n<p class=\"sub_tit taC\">Global Luxury Brands with Seoul in the Spotlight<\/p>\n<\/p><\/div>\n<p><\/p>\n<div class=\"img_area inner30\">\n<p class=\"hash_text\">#Louis Vuitton, Pre-Fall Fashion Show @Jamsugyo Bridge (April 29, 2023)<\/p>\n<p><\/p>\n<div style=\"max-width:820px;\">\n\t\t\t<img decoding=\"async\" src=\"https:\/\/dev.stories.amorepacific.com\/en\/wp-content\/uploads\/sites\/2\/2023\/07\/5213ee78-501d-4c6e-9a38-9576b241e210.png\"><\/p>\n<p>\t\t\t<span class=\"img_desc\">\u25b2Source : Louis Vuitton<\/span>\n\t\t<\/div>\n<\/p><\/div>\n<div class=\"text_area inner30\"> Louis Vuitton unfurled its &#8216;2023 Pre-Fall Fashion Show&#8217; against the picturesque backdrop of the Sebit Islands in the Han River. The term &#8216;Pre-Fall&#8217; refers to an inter-seasonal collection that is unveiled ahead of the regular FW repertoire. Louis Vuitton<br \/>\n\t\tdrew a considerable amount of attention by opting to stage its inaugural Pre-Fall event in South Korea. The show&#8217;s conceptualization and stage design were the brainchild of director Hwang Dong-hyuk, the visionary behind the hit series Squid Game, while<br \/>\n\t\tmodel Jung Ho-yeon graced the event&#8217;s opening. Louis Vuitton, having entered into a Memorandum of Understanding with the Korea Tourism Organization, declared an array of planned activities that include incorporating fresh Han River-themed content within<br \/>\n\t\tits &#8216;Louis Vuitton City Guide Collection Seoul Edition,&#8217; and establishing a book kiosk at the pedestrian-friendly Jamsugyo Bridge &#8216;On-Foot Festival&#8217; to foster closer interaction with the citizens of Seoul. <\/div>\n<p><\/p>\n<div class=\"img_area inner30\">\n<p class=\"hash_text\">#Gucci, Unveiling of the 2024 Cruise Collection @Gyeongbokgung Palace (May 16, 2023)<\/p>\n<p><\/p>\n<div style=\"max-width:820px;\">\n\t\t\t<img decoding=\"async\" src=\"https:\/\/dev.stories.amorepacific.com\/en\/wp-content\/uploads\/sites\/2\/2023\/07\/779aed02-34bf-414e-9dbb-5f5ee4f5373a.jpg\"><\/p>\n<p>\t\t\t<span class=\"img_desc\">\u25b2Source : Gucci<\/span>\n\t\t<\/div>\n<\/p><\/div>\n<div class=\"text_area inner30\"> Gucci, with the venerable Gyeongbokgung Palace&#8217;s Geunjeongjeon as its stage, introduced a diverse collection of apparel and accessories that melded traditional Korean dress styles with Gucci&#8217;s distinctive flair. Showcased pieces included A-line dresses<br \/>\n\t\tthat captured the generous volume of the Hanbok skirt, along with outfits featuring silk bands, an innovative application inspired by the &#8216;Gorum&#8217; of the Hanbok. Additionally, a variety of sportswear was unveiled, drawing inspiration from Seoul&#8217;s daily<br \/>\n\t\tlife, such as the wetsuits sported by windsurfers and jet skiers on the Han River. Gucci declared their intention to use this fashion show as a platform to promote the splendor of Korean cultural heritage to the world, intertwined with Gucci&#8217;s fashion<br \/>\n\t\tsensibilities. It&#8217;s worth noting that around 9% of Gucci&#8217;s total global sales stem from the Korean market. This purchasing power might well be why, following the inauguration of Gucci Gaok in 2021, the fashion house has launched a suite of consecutive<br \/>\n\t\tmarketing campaigns specially designed for the Korean market. <\/div>\n<p><\/p>\n<div class=\"text_area\">\n<p class=\"sub_tit taC\">The Transition of Style Icons for Global Luxury Brands<\/p>\n<\/p><\/div>\n<p><\/p>\n<div class=\"img_area inner30\">\n<div style=\"max-width:820px;\">\n\t\t\t<img decoding=\"async\" src=\"https:\/\/dev.stories.amorepacific.com\/en\/wp-content\/uploads\/sites\/2\/2023\/07\/72f2f426-3338-4e86-899d-d33f74e32cee.jpg\"><\/p>\n<p>\t\t\t<span class=\"img_desc\">\u25b2Source : VOGUE<\/span>\n\t\t<\/div>\n<\/p><\/div>\n<div class=\"text_area inner30\"> Historically, luxury brand ambassadors have been primarily Western actors or pop stars. While these brand ambassadors certainly play a role in product promotion by wearing the brands, they hold a more significant role in embedding the brand&#8217;s identity<br \/>\n\t\tand image in the public consciousness. For these reasons, luxury brands have historically striven to transmit their image through sensual and sophisticated supermodels. However, the sway of K-content is currently redefining the beauty norms of luxury<br \/>\n\t\tbrands. CNN provided an analysis in January, suggesting that Dior&#8217;s appointment of BTS&#8217;s Jimin as a brand ambassador was a &#8220;clear indication of Korea&#8217;s burgeoning significance in global luxury fashion houses.&#8221; A noteworthy development is the emergence<br \/>\n\t\tof younger, fourth-generation idols on this stage, in addition to globally renowned third-generation artists, such as BTS and BLACKPINK. <\/div>\n<p><\/p>\n<div class=\"text_area\">\n<p class=\"sub_tit taC\">The International Ambassadorial Showdown of Fourth-Generation K-pop Idols<\/p>\n<\/p><\/div>\n<p><\/p>\n<div class=\"img_area inner30\">\n<div class=\"img_box flex\" style=\"max-width:900px;\">\n<div style=\"width:162px;\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dev.stories.amorepacific.com\/en\/wp-content\/uploads\/sites\/2\/2023\/06\/704ee340-c42a-4ddc-99d3-b0adb1a4d1de.jpg\"><\/p><\/div>\n<div style=\"width:163px;\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dev.stories.amorepacific.com\/en\/wp-content\/uploads\/sites\/2\/2023\/06\/6282a1e6-f69d-42d0-9b92-092636c4eb25.jpg\"><\/p><\/div>\n<div style=\"width:158px;\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dev.stories.amorepacific.com\/en\/wp-content\/uploads\/sites\/2\/2023\/07\/81b2a1da-37ae-4162-ab0a-b870437cb316.jpg\"><\/p><\/div>\n<div style=\"width:160px;\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dev.stories.amorepacific.com\/en\/wp-content\/uploads\/sites\/2\/2023\/06\/57759ee0-fae8-4d41-a827-1f7795952558.jpg\"><\/p><\/div>\n<div style=\"width:162px;\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dev.stories.amorepacific.com\/en\/wp-content\/uploads\/sites\/2\/2023\/06\/96aae79f-a9bd-4db6-8c7d-fe4927724df0.jpg\"><\/p><\/div>\n<\/p><\/div>\n<p>\t\t<span class=\"img_desc\">\u25b2Source :&nbsp;Brand SNS<\/span>\n\t<\/div>\n<div class=\"text_area inner30\"> Making their debut in the previous year, the ensemble NewJeans has seen all of its members ascend to the distinguished position of global brand ambassadors within just nine months of their inception. Remarkably, NewJeans sets itself apart among the fourth-generation<br \/>\n\t\tgirl groups, with each member distinctively embodying a separate international brand. As of November 2022, Hanni has taken up the mantle for Gucci and Giorgio Armani, whereas Danielle is at the forefront for Burberry and Yves Saint Laurent. Hyein, the<br \/>\n\t\tyoungest member, has drawn considerable attention by becoming the most youthful Louis Vuitton ambassador at the tender age of 14. Minji and Haerin have each become subjects of intrigue, appointed as ambassadors for three sectors \u2014 jewelry, fashion,<br \/>\n\t\tand beauty \u2014 for Chanel and Dior, respectively. <\/div>\n<div class=\"img_area inner30\">\n<div class=\"img_box flex\" style=\"max-width:900px;\">\n<div style=\"width:201px;\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dev.stories.amorepacific.com\/en\/wp-content\/uploads\/sites\/2\/2023\/06\/dc896386-7561-489a-8d40-03b620952b07.jpg\"><\/p><\/div>\n<div style=\"width:201px;\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dev.stories.amorepacific.com\/en\/wp-content\/uploads\/sites\/2\/2023\/06\/c61c296d-3bad-455a-a391-75138494302c.jpg\"><\/p><\/div>\n<div style=\"max-width:421px;\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dev.stories.amorepacific.com\/en\/wp-content\/uploads\/sites\/2\/2023\/07\/53c42f1d-8ce1-482a-8b49-b4ea4e1acb65.jpg\"><\/p><\/div>\n<\/p><\/div>\n<p>\t\t<span class=\"img_desc\">\u25b2Source :&nbsp;Brand SNS<\/span>\n\t<\/div>\n<div class=\"text_area inner30\"> From the group IVE, Jang Won-young, affectionately known as the &#8220;president of elementary school students&#8221; for the substantial support they garner from this demographic, serves dutifully as a global ambassador for Miu Miu and Fred. An Yu-jin holds the<br \/>\n\t\tdistinguished role of Korean ambassador for Fendi. Moreover, the entire assembly of &#8216;aespa&#8217; have been appointed as ambassadors for Givenchy and Chopard, even making a noteworthy appearance at the Cannes Film Festival as official partner brand ambassadors.<br \/>\n\t\tA noteworthy development has been the rise of YouTube videos, such as the &#8220;16-year-old Luxury Shopping Vlog&#8221; and the &#8220;10 Million Won Shopping Spree to Commemorate My 18th Birthday,&#8221; which have generated substantial traction among viewers. There are<br \/>\n\t\tconcerns that these high-profile ambassadorial activities by fourth-generation idols may well be spurring luxury consumption among the teenage demographic. <\/div>\n<p><\/p>\n<div class=\"line inner30\"><\/div>\n<p><\/p>\n<div class=\"text_area\">\n<p class=\"sub_tit taC\">To Conclude<\/p>\n<\/p><\/div>\n<p><\/p>\n<div class=\"text_area inner30\"> The high degree of attention that Korea has been attracting from global brands likely stems from the combined effects of the escalating influence of K-Content and the robust growth of Korea&#8217;s luxury market. In 2022, luxury goods made up an impressive<br \/>\n\t\t26% of the total sales of the Shinsegae Department Store with the performance of Shinsegae&#8217;s Gangnam branch even eclipsing that of renowned global department stores, such as Paris&#8217;s Galeries Lafayette and Tokyo&#8217;s Isetan Shinjuku. Remarkably, Korea&#8217;s<br \/>\n\t\tluxury market ranks seventh globally, and in the past year, the per capita luxury expenditure surpassed that of China, recording the highest in the world. (*Source: Morgan Stanley) Popular phrases including &#8220;Chanel Homeless Run&#8221; and &#8220;Luxury is cheapest<br \/>\n\t\ttoday&#8221; are illustrative of the pulse of Korea&#8217;s vibrant luxury consumption market.<\/p>\n<p>\t\tHowever, since the beginning of this year&#8217;s first quarter, the previously upward trajectory of the domestic luxury market appears to have decelerated somewhat. The luxury sales figures for the first quarter from the three leading domestic department<br \/>\n\t\tstores showed a slight reduction of 0.6%. Industry analysts cite several potential factors including an economic downturn leading to an erosion of asset values, a post-pandemic surge in overseas travel, and the rise of what are often termed as semi-luxury<br \/>\n\t\tbrands like Maison Margiela.<\/p>\n<p>\t\tThe pivotal role Korea now occupies within the global cultural landscape is beyond doubt significant. Global luxury brands are focusing intensively on Korea, igniting a profusion of analytical commentaries in international media platforms. Even as<br \/>\n\t\tthe luxury market&#8217;s expansion potentially reaches a plateau, whether this heightened interest will endure continues to be an intriguing subject for future scrutiny.\n\t<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In recent times, K-content&#8217;s enhanced stature within the global market has piqued the interest of numerous worldwide luxury brands, with their collective gaze now being increasingly fixated on South Korea. Such popular brands see South Korea as a prospective testing ground for the burgeoning Asia-Pacific market. Within this part, we delve into the intricate methods by which these global entities are taking note of the Korean market.<\/p>\n","protected":false},"author":8,"featured_media":20048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"post_list_apon":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"post_series":[137],"class_list":["post-20047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","post_series-137"],"aioseo_notices":[],"acf":[],"jetpack_featured_media_url":"https:\/\/dev.stories.amorepacific.com\/en\/wp-content\/uploads\/sites\/2\/2023\/07\/abd6d365-2f62-497e-a717-a8c41afa0c42.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/dev.stories.amorepacific.com\/en\/wp-json\/wp\/v2\/posts\/20047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.stories.amorepacific.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.stories.amorepacific.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.stories.amorepacific.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.stories.amorepacific.com\/en\/wp-json\/wp\/v2\/comments?post=20047"}],"version-history":[{"count":5,"href":"https:\/\/dev.stories.amorepacific.com\/en\/wp-json\/wp\/v2\/posts\/20047\/revisions"}],"predecessor-version":[{"id":20081,"href":"https:\/\/dev.stories.amorepacific.com\/en\/wp-json\/wp\/v2\/posts\/20047\/revisions\/20081"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.stories.amorepacific.com\/en\/wp-json\/wp\/v2\/media\/20048"}],"wp:attachment":[{"href":"https:\/\/dev.stories.amorepacific.com\/en\/wp-json\/wp\/v2\/media?parent=20047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.stories.amorepacific.com\/en\/wp-json\/wp\/v2\/categories?post=20047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.stories.amorepacific.com\/en\/wp-json\/wp\/v2\/tags?post=20047"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/dev.stories.amorepacific.com\/en\/wp-json\/wp\/v2\/post_series?post=20047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}