South Koreans and Counterfeits.

In a recent blog by Michael Arndt from the BusinessWeek Innovation Web Site, he speaks on how South Korea has a problem with fake goods. I find this to be really funny because it is so true! This may seem like a statement that would usually offend a South Korean, but I will have to say that Koreans love to find a bargain. Even though that Louis Vuitton looks more like a IY than a LV, as long as it looks like the real deal, Koreans will buy it. So in order to crack down on the fakes, South Korea has created a new innovative way by creating pretty nifty incentives. If someone reports anyone who is selling fake goods, they will be awarded with money.

"Like
nations elsewhere, South Korea has a problem with fake goods. It's trying an
innovative method to stop counterfeiting…It's enlisting everyday citizens to
tell on people selling knockoffs, and paying bounties for their detective
work. "
—Michael Arndt, NEXT: Innovation Tools & Trends

For More Information: http://www.businessweek.com/innovate/next/archives/2008/12/koreas_new_anti.html

-Nina