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The U.K. is notorious for its high prices, especially public transport and eating out in London. The underground costs 4 pounds or some W7,500 in downtown London, and the basic bus fare is 2 pounds - that is three to seven times higher than in Seoul (W1,000 each). The price of a bowl of black bean paste noodle is as much as 5-5.90 pounds. Koreans living in the U.K. seem resigned to the fact. They say if they try to translate pounds into Korean won, they would end up starving to death. But when it comes to commodity prices, the story is different. Meat and vegetables are available at cheaper prices than in Seoul in the supermarkets, and premium brand goods are also much cheaper in London.
¡ß Beef four times more expensive in Seoul
Hong Seong-nyeo lives in London and cooks beef once or twice a week. She shops in Tesco¡¯s, where 600 g of best-quality steak costs no more than W15,000 for her family of four. The same amount at E-mart in Seoul costs some W56,000. The price of fresh bacon is a third of the price in Seoul. For W10,000, you can buy only 515 g of good-quality pork in a E-mart in Seoul, but in London it buys 1,620 g. And an organic egg costs W508 in a London Tesco but is W190 more expensive in a Seoul E-mart.
The price of milk is also below W1,000 for 1 liter in a London Tesco, but in a E-mart even the cheapest exceeds W1,200. A box of 600 g Kellogg¡¯s Corn Flakes is W4,350 in Seoul but costs less in London although it comes with 150 g more per packet. Some vegetables like onions and cucumbers are more expensive in London, but comparing the bills of 15 items bought, Seoul was still more than twice as expensive as London -- W143,000 against W64,000. Even excluding beef and pork, London (W46,000) is cheaper than Seoul (W75,000).
¡ß Hugo Boss men¡¯s suit W500,000 more expensive in Seoul
At the Shinsegae Department Store in Gangnam, Seoul, Lancome¡¯s eye cream costs W150,000 and Estee Lauder¡¯s W75,000. But the same Lancome eye cream is available at 36 percent cheaper or W96,000 (51.50 pounds) in London¡¯s biggest department store Selfridge¡¯s. The Estee Lauder product is also W15,000 cheaper there. The same goes for men¡¯s cosmetic products. It costs W43,000 to buy a 100 ml bottle of Biotherm lotion in Seoul, but in London a 200 ml bottle costs W7,000 less. And what about Korean girls¡¯ favorite Louis Vuitton bags? The basic Speedy costs W670,000 in Seoul, W90,000 more expensive than in London. A Prada bag is also W300,000 more expensive in Seoul (W1.6 million) than in London (W1.3 million).
A men¡¯s suit in a Hugo Boss store in downtown London was tagged at 600 pounds (W1.12 million), but the same suit was sold at W1.68 million in Seoul. The situation is not much different in outlet stores. In Bicester Village, an outlet mall in northwestern London, men¡¯s polo T-shirts, whose original price is 55 pounds (W102,000), are sold for 19.99 pounds (W37,000). They cost W69,000 at an outlet in Yeoju, Korea. Burberry classic checked shirts for men are offered at one-third of the original price (120 pounds) in the London outlet, but three times as expensive at W208,000 in the Korean one.
(englishnews@chosun.com )
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