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🏠🚗⌚️Buying a house, buying luxury cars, buying luxury watches! "Nine out of ten people come from semiconductor companies," Samsung and SK Hynix employees are shopping like crazy
According to South Korea's "JoongAng Daily" report on the 17th, due to employees of Samsung Electronics and SK Hynix receiving performance bonuses worth hundreds of millions of Korean won, housing demand has surged, and the prices of some apartments have increased by 100 million to 200 million Korean won (about 450k to 900k RMB).
High-end imported car dealerships are also crowded with semiconductor company employees, and major department stores are busy welcoming customers. A department store in Bundang District, Seongnam City, will hold an event starting on the 23rd of this month, offering Samsung Electronics employees fast-track access to boutiques, parking vouchers, and restaurant discount coupons.
Kang Sang-bong, a professor of economics at Seoul National University, said: "Semiconductor company employees who receive performance bonuses of hundreds of millions of Korean won are using internal loans to buy houses. We can foresee that this will trigger a chain reaction of increased consumption of relatively expensive durable goods such as televisions."