warovski Korea's CEO sees demand for premium accessories rising amid changing lifestyles

Since the Austria-based crystal jewelry manufacturer launched its business in Korea in 2000, the Korean operation of Swarovski has become the second biggest market in Asia after Hong Kong and it's one of the top five worldwide. With a total number of almost 60 shops in major department stores and duty free shops, Swarovski stores have sprouted up in downtown Seoul. Hwang aims to double the total sales revenue and increase the number of shops to 75 in the next five years.

There's room for further growth as demand for the premium accessories and fashion items is rising due to the rapidly changing lifestyle of ordinary Koreans, he said. "Parties are becoming a big part of youth culture and I see abundant business opportunites here in Korea," said Hwang.

Last year, the total revenue at Swarovski's Korean operation reached as much as 34 billion won, more than 10 percent up from a year earlier.