Korean department stores record double-digit sales growth in first 2 weeks of Jan.

[Photo by MK DB]

Sales at South Korea’s department stores in the first two weeks of January grew at double-digit rates from the same period of last year thanks to the strong pent-up demand for luxury goods and clothes, as well as winter jackets due to the recent cold wave. Sales increased 53% on year from Jan. 2 to Jan. 16, according to Hyundai Department Store on Monday, while Shinsegae Department Store's sales increased 54.4% and Lotte Department store 53.6%.

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