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Good news for Korean consumers looking for bargains on their favorite import products...
The finance ministry said Monday... that the price of foreign-brand import clothing, cosmetics
and watches... will drop by as much as 50 percent in Korea... as early as March.
It said... the move is to enhance competition among importers... and will include the promotion
of "parallel imports"... to root out monopolies... which are blamed for excessively-high
import costs. "Parallel imports" refer to the
import of goods outside distribution channels... that own exclusive sales rights in a nation.