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'IKEA effect' upgrades Korean furniture industry

2016-02-01 04:27:25| Furniture - Topix.net

Furniture sales in Korea sharply surged last year as Swedish furniture giant IKEA's entry stimulated competition to create strong demand in the home decoration sector amid the brisk real estate market, data showed Monday. Combined retail furniture sales were tallied at 5 trillion won in 2015, up 7 percent from a year ago, according to data by Statistics Korea.

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