More spending on luxury goods = higher debt. Along with higher cost of housing, it's pretty much explanatory why many don't get married and start a family anymore. Last time I check, income hasn't moved much either. Government don't need to spend billions to figure this out.

The pursuit of empty materialism is the equivalent of a drug addict searching for their next high. Look, I support you guys but I can't believe you all were looking for the "pros" of this behavior. It's not that hard to understand that the vast majority of people in Korea are spending more than they can afford and contributing to their stress. Spending most of their life accumulating things and then you won't be able to give it away when you are old because its out of style. Luxury or not.

Koreans are making the European richer from their spending habits… it’s tragic

People buy shit with money they don't have to impress people they don't like.

Don't forget how RAPIDLY S.Korea industrialized. The impact parents and grandparents had on the current "health and wealth is king" can't be understated coming out of generations of poverty, occupation, and war. There is now an emphasis on material goods and status which is in a way "therapeutic", since many studies (and real life "feel") show that trauma can be/is generational. We see similar things in most cultures that have come out of generational oppression (black community in North America is another example).

lol Korean society is one of the most happy society in the world? 🤣 very high correlation with luxury toxic consumption 😅

I feel bad for these people! The greatest luxury in life is peace of mind- not having to worry about debt, not having to compete with other people, not being bothered by what others think about you.

Why.....spending more on Lux items. Because of low self esteem..

I am an actual Korean multimillionaire with enough money to be compared to Abby Choi of Hong Kong. And guess what? I own 1 Prada bag and NO other luxury. I’m not going to spend $6000 on a coat nor shell out $4000 on a handbag. Does that sound right to you??? Like let’s get real, bro. 😎 Would you literally spend $2,000-$4000 on a BAG? I wear clothes from UNiQClo and Superdry. I drive a Toyota and live in a 1200 sq ft home. I cook my own meals and do my own chores, wash dishes and live life simply just like everyone else….I have $0 debt and donate money to Buddhist temples cuz I am Buddhist. Think 💭 hard before spending your hard earned cash.

Look at me, look at meeeeeee!

I love the coat you're wearing! It matches my DUPBAGY bag perfectly!

You three have some good chemistry on camera! Keep up the good and relevant content.

In America, it’s probably not as high since a lot of people just steal. Lol.

❤️

It shows a lack of self esteem that needs to be boosted by pretending to be someone else.

This is so random but my name is Cheska too (I got by Francesca professionally) but its so cool to see another Cheska, it’s so rare to find someone who goes by this name at least I’ve only met one other in my life living here in Toronto, Canada Also I definitely think the consumption of luxury goods in South Korea is more for flexing and a way for them to feel more than or above others. I buy luxury goods and I’d have to say that I invest in pieces that last a long time and increase in value, I also do appreciate the brands that have a history and heritage. It’s hard for a brand/ company to last over 50-100+ years so i appreciate that aspect of luxury/designer brands. I dont think many luxury loving Koreans that are in the 13-28 range know a lot about the brand heritage and history.

It’s all debt on the Visa card

all three of them speaking in different accents haha

koreans should spend more on luxury goods!!! They are worth it!!

MZ하네요

Koreans deserve the best. That's why I hope Korean ladies can find American men to be husbands. Amen.

Propaganda

Korea is now the country with the highest Credit Card/Consumer Debt as of 2022