South Koreans are Now the World’s Biggest Luxury Spenders
South Koreans are now the world’s biggest per-capita spenders on luxury goods according to Morgan Stanley. The report by the global investment bank showed that Koreans’ total spending on luxury items such as designer bags, clothes, watches, and cosmetics grew 24 percent to $16.8 billion (208.6 trillion won) in 2022 from a year ago, which…