(MENAFN) Mainly due to rising demand for interior decoration amid a recovery in the local housing market, South Korea's 10 largest furniture companies saw their joint sales climb 18.5pct this year from 2014.
According to market insiders' latest data, the aggregated sales of the mentioned businesses stood at a total of USD3.2 billion in 2015, up from USD2.7 billion throughout the previous year.
Specifically, sales of industry leader Hanssem Co. jumped 28.9pct on-year to USD1.4 billion, followed by Hyundai Livart Furniture Co. with USD605.5 million in sales and Enex Co. with an overall USD263.7 million.
"Consumers tend to spend their money on buying furniture to decorate their homes, plus furniture firms also strengthened their marketing strategies to compete against IKEA," said a top market insider.
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