iPhone included on price watch list

By Kang Seung-woo

Staff reporter

Since its debut last November, the iPhone has turned out to be a megahit in the competitive cellular phone market despite its high price.

Apple's iconic handset has made another "peculiar" debut in Korea, as the government has included the pricey status symbol among 30 items that are under watch for price hikes.

The Fair Trade Commission (FTC) announced Tuesday the 30 items that it was closely monitoring to keep consumer prices in check, and the blockbuster gadget became the only cellular phone on the list.

"The 30 products can highly affect consumer prices because they have a high concentration ratio (CR), are highly sought after and are the basic material necessities that the government watches," a government official said.

As of Tuesday, more than 800,000 of the cutting edge devices have been sold since its introduction to the domestic market.

Changed consumption patterns resulted in introducing new items to the list.

The government agency added 19 new products, including the iPhone, to 11 that it has monitored since 2008.

"Consumption patterns have changed every year, so do the items that are under our watch," the official said.

As a result, ramen and jajangmyeon, pseudo-Chinese style black-bean-sauce noodles, which used to be regulars on the list, have been dropped.

Newly-introduced items are imported video game consoles, digital cameras, LCD/LED televisions, netbook computers and the iPhone; spring water, ice cream, cheese, fried chicken and chocolate; Tylenol, disposable contact lenses, digital blood pressure gauges and atopy cream; and children's wear, strollers, shampoo, baby lotion and skin essences.

Still remaining on the list are canned beer, skin cream, diesel, liquefied petroleum gas (LPG), gasoline, detergent, snacks, milk, multivitamins, orange juice and coffee.