Samsung and SK Hynix employees rush to buy luxury cars and houses; sales at South Korean department stores and imported car dealerships surge

Glonghui, June 17｜According to China News Finance, performance bonuses worth hundreds of millions of Korean won granted to employees of Samsung Electronics and SK Hynix have led to a surge in housing demand, with some apartment prices having risen by 100 million to 200 million Korean won. A real estate agent said, “Compared with just a month ago, the listing prices of major apartments have increased by nearly 200 million Korean won (approximately 894,000 yuan).” According to reports, high-end imported car dealerships are also crowded with semiconductor company employees. At a department store in Bundang District, Seongnam City, fast-track entry to boutiques is being offered to Samsung Electronics employees. Department store employee Ms. Lee said, “Recently, sales to male customers in their 20s and 30s have grown significantly, especially in the watch section.” Reports indicate that last month, sales revenue at a branch of Shinsegae Department Store in South Korea grew by 16.2% year-over-year, with sales of jewelry and watches increasing by 120% and 60% respectively. During the same period, sales at Hyundai Department Store’s Pangyo branch grew by 44.7%, and sales at Lotte Department Store’s Dongtan branch also increased by 30%.