South Korean media reports that luxury spending has surged in the southern Gyeonggi Province area around Samsung and SK Hynix factories.

For example, at Shinsegae Department Store, sales of luxury goods rose 53.6% year-over-year last month, including luxury jewelry up 146.3% and luxury watches up 85.3%.
Even more interesting is that the large performance bonuses at Samsung and SK Hynix have also been listed by the Bank of Korea as inflation risks.
Last year, SK Hynix agreed to set aside 10% of operating profit for employee bonuses, while Samsung pledged to set aside 10.5% of operating profit from its semiconductor business.
This means that an employee at Samsung’s memory chip division, with an annual base salary of about $52,000, could receive roughly $410,000 in bonuses this year.
SK Hynix is even more extreme: if this year’s operating profit reaches 250 trillion won—about $169 billion—then the average employee bonus could exceed $450,000.