Wholesale Jewellery directly from manufacturer click here

GLIMPSES OF WORLD GEMS CENTRES ASIA SOUTH KOREA
Besides other industries and trade, South Korea is also becoming a potential gems and jewellery centre. According to De Beets, Korea is a big diamond consumer, accounting for 28 per cent of the Asian diamond market.

Formally proclaimed on August 15, 1948, the Republic of South Korea forms the southern part of the Korean peninsula. The period of 1950-53 saw the Korean war, a tragic experience for the entire Korean people as the country bifurcated into North and South Korea. In 1991 a declaration of non-aggression and conciliation was signed by both North and South Korea.
For an area of 98,859 sq.kms., South Korea has a population of 47.5 million. Korean, written in their own script called Hangul, is the official language. Won is the currency of South Korea.

Diamond Potential: Gems and jewellery business has mostly developed in IRI city of South Korea. Gemstone cutting and polishing units are located in this particular trade zone, where all items are manufactured for export only. Loose stones are processed for export or for setting them in jewellery and re-export. If polished diamonds are imported for domestic consumption a duty of 1 00% is levied. On diamonds meantfor re-export, no duty is levied, but they have to be exported within six months.

Keeping in view its enormous potential, a Belgian hgh ranking diamond niission visited Korea earlier to establish bilateral business relations. Thereafter the Diamond High Council (HRD) of Antwerp, Belgium has concluded an agreement with the Korea Precious Metals & Jewellery Technical Association, representing over 2,000 manufacturers, to commence diamond grading and jewellery designing courses in Seoul. It has taken other initiatives also to forge track connections.