Samsung, SK Hynix Employees Bid Up Seoul Housing, Luxury Goods on Performance Bonuses Up to 200M Won

According to South Korea's Chosun Ilbo, on June 17, Samsung Electronics and SK Hynix employees who received performance bonuses spanning hundreds of millions of won have triggered surges in demand for homes, luxury cars, and premium goods. Apartment prices in Seoul's Bundang district have risen 100 million to 200 million won, while sales staff at luxury car dealerships report a noticeable uptick in semiconductor company employees, with roughly 9 out of 10 credential-holding customers representing the sector.

Department stores are capitalizing on the spending surge. Jewelry and watch sales at Shinsegae's Bundang branch grew 120% and 60% year-over-year last month, while Hyundai Department Store Pangyo recorded 44.7% sales growth and Lotte Department Store Dongttan saw 30% growth.