Costco’s steep membership hike tests loyalty of Korean shoppers

Costco’s steep membership hike tests loyalty of Korean shoppers

Costco Korea, the local unit of the US-based warehouse retailer, recently announced a double-digit hike in membership fees, sparking concerns over potential customer attrition amid a sluggish domestic consumption environment. Costco Korea said Tuesday it plans to raise the prices of its three types of annual memberships — Gold Star, Business and Executive — starting in May, marking the first increase in eight years, since 2017. The Gold Star mem…