South Koreans own, on average, nine designer-label goods and buy at least two every year, a survey has shown.

A South Korean aged over 20 has purchased an average of 8.8 designer goods, such as Gucci, Chanel and Prada, according to a survey of 1,000 conducted by the Korea Consumer Agency.

Nearly 38% said they own one to three items, with 23% having four or five. On an annual basis, consumers spend 2.71 million won ($2,377) each.

South Korea is known to be among a few Asian countries with high consumer demand for luxury goods, with the market growing at 10% per year. One in five had travelled overseas to shop for luxury goods as prices in South Korea are some of the most expensive in Asia, behind only Japan and Taiwan.

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