'Sex toy market is growing rapidly'
Lee June, CEO and founder of MS HarmonyBy Yi Whan-wooSex is a topic that’s still not discussed openly in Korea. Nevertheless, one entrepreneur sees it as a lucrative business opportunity.Lee June, CEO and founder of MS Harmony, said sex toys, including condoms, love gels and candles, can become great export items for Korea.MS Harmony is the only company in the country that manufactures, imports and exports sex toys legally.“The sex toy industry has the potential to grow rapidly in the future, as our company has demonstrated,” Lee said in an interview at his office in Myeong-dong, downtown Seoul, Tuesday.The company’s sales have been increasing by over 100 percent every year since it was set up in November 2003, according to Lee, 39. Last year, the company’s sales reached some 5 billion won ($4.7 million).“The local sex toy market is estimated to be worth 100 billion won this year, while the overseas market is speculated to be over trillions of won,” Lee said.He recalled a presentation held by Phillips, a multinational technology company, duri
May 8, 2014