Why Replica Goods Are Lucrative
The Korean Intellectual Property Office (KIPO) is cracking down on the replica counterfeit market in South Korea. The South Korean market for replica products has seen a surge of more than 204% from August of 2020 to the beginning of 2021.
Korea is globally popular for manufacturing replica goods, especially in the provinces of Dongdaemun and Itaewon. One of the reasons why South Korea’s counterfeit products, especially in clothing, is so popular is that they reproduce high-quality goods that are very attractive to tourists and consumers from other countries.
Quality Replica Goods
Legitimate fashion designers give kudos to the South Korean 레플리카 markets for their near-perfectly redesigned clothing items. The last two decades has seen a huge monetary increase in South Korea to the tune of trillions of dollars.
The Replica Trend
Not only is South Korea’s internal replica goods a lucrative trade but its export system of goods can be found in nearly every county in the world. Seoul, South Korea, the high fashion centre in Asia, is home to consumers that want must-have luxury brands. Across South Korea, the desire to acquire cheap products is high both domestically and abroad.
Attempts To Curtail Fake Trade
No, we are not touting the attractiveness of securing fake goods. But, since The Korean Intellectual Property Office (KIPO) is only receiving 3% of complaint reports domestically, investigations are low. However, KIPO is promising to investigate more aggressively by using digital forensics and hiring more investigators.
Yes, the manufacturing and selling of fake goods are illegal in Korea, their success is the result of clandestine trading taking place mainly at underground markets. Also, manufacturing factors creating replica goods are moving to other remote areas to avoid inspectors and law officers.
Reasons For Booming Replica Products
The COVID-19 pandemic has added to replica goods being vastly increased. Online shopping has seen an increase over the last year. E-commerce websites have seen an increase in consumer buying experiences.
Consumers enjoy the feeling of peace and safety by simply clicking to purchase what they deem to be legitimate clothing items. However, this is an area where trade organizations are monitoring.
Another reason why South Korea’s replica market is booming is due to the entertainment industry. Granted that traveling to South Korea has been abated due to the pandemic, virtual entertainment events have been popularized.
The rising new South Korean generation remains very obsessed with fashion. The Popular Wave industry of K-pop boy bands has fueled young stylish 20-something consumers with the desire to wear the latest fashion trendy T-shirts, jewelry, and other clothing items worn by the bands and celebrities.
South Korea’s thriving replica market attributes to its reputation of being Asia’s capitalistic powerhouse, the 14th largest economy, and Seoul is the fifth wealthiest city in the world. Despite legal eyes on the fake goods trade, replica goods including fashion brand clothing, watches, jewelry, perfumes, toys, and technology equipment and devices continue to enjoy a booming domestic and international trade.