110518 Korean Sellers Making a Fortune from Idol Merchandise

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    Jessica Jung (제시카)
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    110518 Korean Sellers Making a Fortune from Idol Merchandise

    Post by Jessica Jung (제시카) on 2011-05-18, 13:38

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    When one thinks of the word "export", the image of large containers being shipped internationally comes to mind. However, small items such as Girls' Generation cards are also becoming impressive export goods.

    Cards and posters of Girls' Generation and other Hallyu (Korean wave) stars are in high demand in not just South-East Asia, America and the UK but also in countries such as Puerto Rico and Brazil.

    University student Lee Mingeol used to collect celebrity cards and posters as a hobby, but is now selling them internationally via auctions. At times he'll sells them at a loss, but many popular items fetch unimaginably high prices.

    Aged 25, Lee Mingeol is currently studying hotel management: "I only started this properly in December and it has been four to six months. Right now, in May, if I measure solely based on revenue, I am earning around US $18,000."

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    It has become possible to make such great online sales with small initial investment thanks to popular auction site "eBay". Transactions at the site have increased 167% compared to the past year and is predicted to double in 2011.

    Lim Jihyun, the CBT manager of "eBay Korea" commented, "Korean sellers have had a lot of experience selling to other Koreans, which is how they have been gaining ground so quickly in the international market. We estimate this year's sales revenue to have grown 200% compared to last year at 200bn KRW (US $184m)."

    Source: MT
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