Reebok shoes worn by S. Korean presidential candidate Lee Jae-myung reselling for 10x the price
South Korean presidential candidate Lee Jae-myung changes his shoes during his election campaign rally in Seoul on May 12. PHOTO: REUTERS
SEOUL - A pair of sneakers worn by South Korean presidential candidate Lee Jae-myung during his official campaign launch event on May 12 has become an overnight sensation, selling out nationwide and fuelling resales of the shoes.
To kick off the 22-day official campaign period for the June 3 election, the front-runner from the liberal Demcratic Party of Korea swapped out formal dress shoes for bold blue and red Reebok sneakers on stage before a large crowd of supporters and party members at Cheonggye Plaza, at the edge of Gwanghwamun Square in central Seoul.
The model, Reebok's Classic Leather GY1522, was a deliberate choice for their blue and red colour scheme to highlight Mr Lee's pledges to bring together the country's liberal and conservative voters.
While blue is the color of the liberals, red is typically associated with conservatives in South Korea today.
The shoes had an additional embroidered patch with the slogan 'Lee Jae-myung, Now More Than Ever' on the left, and another reading 'From now on, the real Republic of Korea' on the right.
The sneakers, originally launched in 2022, retailed for 89,000 won (S$83) , though some sellers were offering them at a 60 per cent discount before the sudden surge in interest.
They are now out of stock on Reebok's official Korean website and major local e-commerce platforms, as of 5pm (0800 GMT) on May 14.
Resellers have quickly stepped in.
Some listings now advertise the shoes for as much as 339,300 won, more than 10 times the lowest retail price. Other platforms, like Naver Store, show prices between 150,000 and 200,000 won, with many units marketed as imported stock.
In his campaign speech, Mr Lee said: 'We no longer have time to fight over ideology. There are no longer progressive or conservative problems, but only Korean citizens' problems.'
Whether the shoes will return to stores remains unclear. According to local media reports, Reebok Korea has yet to decide whether it will restock or re-import the product. THE KOREA HERALD/ASIA NEWS NETWORK
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