Kim Jong-un Wants To Fix North Korea's Economy When Cosmetic Prices Rise 10-fold

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JAKARTA - For women in North Korea, leader Kim Jong-un's intention to start economic development and improve people's lives should be welcomed. Moreover, due to the collapsing economy in the country, the price of cosmetics has increased considerably.

The price of South Korean cosmetics in North Korea has skyrocketed 10-fold since the start of the new year. Buying South Korean cosmetics -- as a New Year's gift that was popular in North Korea in previous years -- has become a luxury item due to border closures to combat COVID-19.

Reporting from the Daily NK media, Wednesday, January 5, the price of South Korean cosmetic products recently jumped more than 10 times in the Pyongyang market. The reason is because of the closure of imports for almost two years. The supply has almost bottomed out and the price is rising.

The Sulwhasoo souvenir set with skin cream and lotion that used to cost $50 to 100 before COVID-19, is currently on sale for $500 to $1,000.

Sulwhasoo is a cosmetic brand created by the South Korean company Amorepacific. This means that a South Korean cosmetic brand that is popular with North Korean women has significantly increased in price.

The demand for South Korean products in North Korea has increased as South Korean pop culture has grown in popularity. You can't buy South Korean products on the market because North Korean authorities forbid their sale, but they can be obtained through private black market deals with merchants.

In particular, North Koreans find it trendy to use South Korean products in their weddings, so having a family in South Korea has been advantageous in the wedding market. Couples wearing South Korean wedding attire and exchanging lots of South Korean wedding gifts are seen with envy.