World's Biggest Luxury Spenders Are Label-Loving Koreans

The video discusses South Korea's significant spending on luxury goods, highlighting that South Koreans spent about $16 billion on luxury items last year, making them the highest per capita spenders. This trend is partly due to an asset bubble, with rising housing prices and stock market gains creating a sense of wealth. However, challenges such as rising interest rates and high household debt are now impacting consumer spending, with housing prices in Seoul falling significantly.

How does South Korea's per capita spending on luxury goods compare to that of Japan?

What was the trend in housing prices in Seoul and other areas?