Technology, Design, Stability, Practicality, Customer Customization... The 'Vaccine' of Companies Overcoming Recession

Korea's Premium Products Shine Brighter When More Challenging

Samsung Electronics Bespoke Refrigerator

[Asia Economy Reporter Kim Heung-soon] Even in 2021, when COVID-19 entered a prolonged phase and unpredictable economic conditions persisted, there were hit products that won consumers' love. Not only products that satisfied interest in hygiene and health but also 'customized' products considering user convenience stood out. Asia Economy selected 48 products that led consumer market trends throughout the year. 'Premium' and 'practicality' were the keywords that opened consumers' wallets.

Premium was prominent in the electronics sector, armed with technology and design. Samsung Electronics' new product, the 'Neo QLED 8K,' was praised for changing the paradigm of the TV market from 'watching TV' to 'enjoying TV' by boasting industry-leading picture quality, sound, and various functions. Also, the 'customized home appliances' Bespoke, which considers individual preferences, expanded its range from refrigerators, cordless vacuum cleaners, air purifiers, and air conditioners to new-concept cooking appliances, gaining popularity. LG Electronics strengthened its OLED TV lineup to solidify its position in the premium market. Additionally, noticing the increased time spent at home, it led the market with premium 'home beauty devices' that allow easy hair loss treatment and skin care. The new-concept plant lifestyle appliance 'LG Tiun,' which enables growing plants at home, was also a notable product.

Hyundai Motor's premium brand Genesis's 'GV70' received excellent evaluations in key areas such as unique design, safety, and driving performance, and was selected as the 2022 SUV (Sports Utility Vehicle) of the Year by an American automotive magazine. Hyundai's compact SUV 'Casper,' produced by Gwangju Global Motors (GGM), is expected to surpass annual sales of 10,000 units with its cute appearance and practicality. Kia's first dedicated electric vehicle 'EV6,' launched last August, attracted attention with its driving performance and design, exceeding 30,000 pre-orders.

Genesis GV70

In the financial sector, 'customized' products released by IBK Industrial Bank, KB Kookmin Bank, Woori Bank, Hyundai Marine & Fire Insurance, Hanwha Life, and Hana Financial Investment drew attention. Among these were products considering the increase in individual investors this year. KB Kookmin Bank's 'KB able Plus Account,' designed to allow both banking and securities transactions in one account, and Hanwha Life's online variable insurance product targeting domestic and international financial product investors were included.

In the information and communication industry, SK Broadband became the first domestic internet TV (IPTV) provider to collaborate with Apple to offer the 'Apple TV' service. Customers using this service can conveniently subscribe to multiple online video services (OTT) such as Wavve and Disney Plus at once.

In the distribution sector, the presence of steady sellers that have been loved for years stood out. 'Maxim Kanu,' which has held the No.1 position in domestic instant ground coffee since its launch in 2011, and 'Cheoeumcheoreom,' known as the symbol of smooth soju, comforted the fatigue of office workers and self-employed people. Health functional foods and products for hair loss symptom relief (Amorepacific), sleep care (Kyowon), and moisturizing creams (LG Household & Health Care) were loved, and among outdoor sports, golf saw a significant increase in beginners after COVID-19, leading to increased sales of related equipment.

This content was produced with the assistance of AI translation services.