PDP TV, A/C Imports into Korea Surge Sep 17, 2003

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PDP TV imports surged 19 percent in July and August compared to the same period in 2002, the Korea Customs Service said.

The service said local traders imported U.S. $4.81 million worth of wide-screen PDP sets during the 2-month period. It also reported a 1-percent on-year increase for air-conditioners with imports rising to $1.08 million.

However, cuts in luxury taxes designed to spur domestic consumption of big-ticket items had no effect whatsoever on auto and projection TV imports, the service said.

The country imported only $104.4 million worth of cars after the tax cuts were applied, a 40-percent decrease vis-a-vis the same two-month period the previous year, while sales of projection TVs slumped 27 per cent to $5.41 million.

The customs service said that the rise in PDP TV imports could be attributed to the fact that more people were switching to upper-end home appliances. It also said that with Korean sets being recognized as leading the global market and therefore being more expensive than those made abroad, there was a market for more affordable products.

However, the service said that the sluggish economy had forced people to tighten their purse strings, which resulted in the decline in auto imports. (Yonhap)

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