South Korea’s obsession with designer handbags

October 1, 2024

SEOUL – In Seoul, there are designer handbags everywhere. The Hermes Birkin for the ultimate flex. The Chanel Medium Double Flap for the very fancy. Lady Dior bags by Christian Dior are very popular. Of course there are the ubiquitous Louis Vuitton bags — how many Speedy 30 bags can you see in a single day? Of course you also see Gucci, Prada, Bottega Veneta and sometimes Burberry too. I’ve seen YSL, Mulberry and Chloe here and there. I’m not here to judge Koreans’ love of designer bags. I love them, although I buy “pre-loved” ones. However, designer bags are less common in the US. One of my Korean friends who recently moved back to Korea after spending 10 years abroad said his single biggest culture shock was seeing designer labels everywhere. Almost every one of my friends and associates in Korea sport designer wallets and bags, but almost all of my US friends and colleagues do not. These two sets of individuals have similar educational and income backgrounds.

What is striking is that in South Korea, the land of designer handbags, the story about Korean first lady Kim Keon Hee receiving a gift from pastor Choi Jae-young of a Lady Dior bag has enjoyed a remarkably long shelf-life. She was secretly filmed by him while receiving this gift valued at 3 million won or about $2,294, exceeding the legal limits of gifts that politicians are allowed to receive. She was interrogated for 12 hours. While $2,294 may seem like an exorbitant amount for a handbag, it is not. Hermes Birkins are difficult to secure, and they can easily cost $25,000. A Chanel Large Classic Flap runs about $12,000. A new Louis Vuitton Speedy Soft 30 Crafty is $3,250 while a traditional Monogram Speedy 30 is just under $2,000. In Korea,