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South Korean consumer demand for lab-grown diamonds 'rising dramatically'

2025-03-20 09:00:10

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Recently, the Korea Times published a series of comments focusing on the issue of lab-grown diamonds, which attracted attention. The article mentioned Korean local diamond companies (covering wholesale and retail), and used the analogy of 'farmed fish and wild fish' to analyze the differences in the industry's perception of lab-grown diamonds and natural diamonds. It is worth noting that diamonds are among the most favorite gems of Koreans - according to a Gallup poll in July last year, 59% of K


Recently, the Korea Times published a series of comments focusing on the issue of lab-grown diamonds, which attracted attention. The article mentioned Korean local diamond companies (covering wholesale and retail), and used the analogy of 'farmed fish and wild fish' to analyze the differences in the industry's perception of lab-grown diamonds and natural diamonds. It is worth noting that diamonds are among the most favorite gems of Koreans - according to a Gallup poll in July last year, 59% of Koreans surveyed listed them as their 'most favorite gem.'


The Korean diamond market is developing on a dual track: while the demand for natural diamonds is strong, the penetration of lab-grown diamonds is also accelerating. Since the launch of the lab-grown diamond product line in 2020, the local light luxury brand LLOYD (affiliated with the E-Land Group) has performed well in the market, with sales of this category surging 73% year-on-year in the first half of 2024 (according to a September report by Asia Daily). It is worth noting that two months ago (in mid-November), a KOTRA delegation, arranged by the Korean Embassy in India, made a special visit to the Delhi headquarters of the Gem and Jewelry Export Promotion Council (GJEPC) of India, focusing on in-depth discussions on cooperation on lab-grown diamond production capacity and the introduction of equipment.


Lin Chengao, CEO of Seoul jewelry brand EclatBaci, compared lab-grown diamonds to natural diamonds by comparing them to 'farmed fish to wild fish,' revealing new trends in the Korean consumer market. He pointed out that the surge in demand for cultured diamonds in recent years is mainly due to two major technological advantages: laboratory culture technology can significantly reduce production costs and accurately control quality parameters, allowing consumers to get better products at lower prices. Although natural diamonds still dominate the market, Lin Chengao emphasized that this 'technological equality' effect is driving the evolution of lab-grown diamonds from an 'alternative option' to a 'mainstream choice,' forming a dual-track parallel consumption pattern.


Leehan Diamond is a diamond wholesaler in Seoul. Its CEO Han Jiping said that lab-grown diamonds allow jewelers to try products that were previously too expensive to design. Taking a 5-carat oval diamond as an example, proper use can lead to a more active and diverse diamond market. Most wholesalers in Jongno District, Seoul already deal in lab-grown diamonds, and most of the supply comes from India. 70% of Leehan's revenue comes from lab-grown diamonds.


The company and the media both admitted that the lab-grown diamond industry faces challenges, the biggest of which is the profit issue. According to reports, Korean merchants make a gross profit of more than 1 million won (about 690 US dollars) from the sale of 1 carat of natural diamonds, while the profit of the same 1 carat of lab-grown diamonds is only 'hundreds of thousands of won', which is uncertain. Korean media said that if the sellers' profits are insufficient, some may turn to natural diamonds, but given the consumption trend, it is not feasible not to trade lab-grown diamonds.




High Light Intelligence Technology, a pioneer in the CVD diamond industry, has advanced MPCVD technology and CVD diamond production workshops. We focus on producing high-purity lab-grown diamonds for the jewelry industry, and at the same time create industrial-grade CVD diamond products, covering single crystalspolycrystallinefilms and diamond surface metallization. We also provide 6kw/10kw/15kw MPCVD equipment to help customers in all aspects, from equipment to products, and then to all-round services, to create brilliance together.

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South Korean consumer demand for lab-grown diamonds 'rising dramatically'
Recently, the Korea Times published a series of comments focusing on the issue of lab-grown diamonds, which attracted attention. The article mentioned Korean local diamond companies (covering wholesale and retail), and used the analogy of 'farmed fish and wild fish' to analyze the differences in the industry's perception of lab-grown diamonds and natural diamonds. It is worth noting that diamonds are among the most favorite gems of Koreans - according to a Gallup poll in July last year, 59% of K
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