Goods of Mega Price

‘Mega Price’ market has been created.

‘Mega Price goods’ means the super high priced goods over the existing goods of the highest price.

▽Which goods? 〓 ‘Koenigsegg cc’ which is the Swedish sports car imported to Korea is estimated at 1 billion won. It has 4,700cc displacement and maximum speed of 390㎞. SNTG said “If a repair is required, the Swedish repairman comes to Korea to fix it directly.“

‘Toy Mania Mall’ has been selling the toy car with two seats of 22 million won. It has 2.3hp engine and the maximum speed of 24㎞. Jeong Dong-Uk, the president said “American company has made only ordered goods manually. One prince of the Middle East bought this toy car.”

‘Loro Piana Korea’ has been selling the men’s suit of 15 million won. When the customer orders the suit, the special designers of the head office in Italy make the suit according to the measurements and send it to Korea.

Imported ‘Marte Francois Girbaud’ of ‘French Jean Brand’, Euro Corporation showed the jeans of 899,000 won as a new product for the autumn. This jean has 100 Crystal Cubic of SWAROVSKI and the white gold buttons. There are only two sizes of 27 inch and 28 inch.

▽Who buy? 〓Less 0.1% of people buys the goods of Mega Price.

According to the report of ‘Wealth of the World’ published by Merrill Lynch in June, there are 50000 Korean millionaires (financial assets of 1 million dollars (above 1.19 billion won).

Gim Jae-Mun, the researcher of LG Economic Research Institute said “The high income bracket is deepened owing to an economic growth and so is divided into ‘high’, ‘middle’ and ‘low’. Normal people buy fine articles easily, but the high income bracket wants special goods over the fine articles.”

There are the unsatisfied sales of Mega Price goods. Any of toy car amounted to 22 million won has never been sold, and the very a few men’s wear of 15 million won is sold. There are only one blue jeans of 899,000 won sold so far.

The advent of Mega Price goods shows two aspects such as an uncontrolled waste and

a variety of consumption. Lee Geum-Taek, the director of Euro Corporation insisted,

“The world Mega Price market will be getting bigger. Accordingly, the domestic

companies require somewhat base of domestic demand to raise the production capacity

and the manufacturer of high value-added goods.

Ho-Won Choi bestiger@donga.com