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Understanding the Luxury Resale Market in Korea

Koreans spend an average of $325 per capita on luxury goods each year — the highest spending globally, according to Morgan Stanley. BoF sits down with mobile re-commerce platform Bunjang’s CEO Jaewha Choi to understand how the resale sector stands to benefit.
Consumer browsing at Bunjang's "Secondhand Is The New Black” event.
Consumer browsing at Bunjang's "Secondhand Is The New Black” event. (Bunjang)
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In 2023, about $49.3 billion (€45 billion) worth of secondhand

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