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)
to Daily News