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  • Essay / Effects of Luxury Brands in South Korea - 1487

    On the other hand, South Korea is in the adaptation stage, which means that it uses and consumes luxury brands to show its status and its wealth to other people in its environment. Japan is in the fifth stage of “the diffusion of the luxury model”, described as a “way of life”. (Chadha and husband 2006: 46). Therefore, Japanese people have high expectations from luxury brands according to the above characteristics. South Korean women are addicted to luxury products. According to (Chadha and Husband, 2006) South Korea in a luxury consumption glass defined as "most women in metropolitan areas from Seoul to Pusan ​​own LV products, Ferragamo shoes, Gucci bags, the dominance of Burberry, Cartier watches, Hermes Kelly.” bags and beauty are the lifeblood of women in South Korea” (Chadha and Husband 2006: 178). Additionally, South Korean women love to consume Louis Vuitton products, so according to (Chadha and Husband 2006), “50% of them buy LV bags (Chadha and Husband 2006: 17). “There are consumer segments in the South Korean luxury market ranging from “golden misses” to “golden moms” to “VVIPs”” (Luxury Brand Advisors 2012: 16). Moreover, “love of luxury and peer pressure” are the two factors that shape luxury consumption in South Korea (Salsberg and Shin 2010-online). The Gold Misses women segment in South Korea constitutes the latest popular group who continuously dedicate their lives to quality living. “The income of the gold missing persons amounts to approximately $93,000” (Luxurydaily 2012b). According to (Chang and Sproule 2013), these women surrounded every aspect of their lives with “culture, beauty, fashion” (Chang and Sproule 2013: 3). On the other hand, a group called "doenjang girls" are the other young luxury lovers. in South Korea...... middle of article...... according to the long-term orientation index, South Korea's score was 75 and Japan's score was 80 ( Hofstede 2001: 356). In this regard, South Korea is a long-term oriented country, the main characteristics of which can be observed in work environments in which business authorities are willing to maintain long-term relationships with their "stakeholders". (The Hofstede Center 2013b). , Japanese society shares the same ideology regarding the long-term direction of the country and tends to build long-term relationships in the work environment in order to safeguard and continue their future success (The Hofstede Center 2013a). Moreover, East Asian countries are led to "a long-term orientation" and this dimension of characteristics is revealed particularly in East Asia as "acceptance of change, perseverance, savings, the search for peace of mind” (Mooij and Hofstede). 2002:64).