You can have any color as long as it is White, Silver or Black
One of the first things you will notice on the road in Seoul is that all cars have a similar dull color. It’s either White, Silver, or Black. The reason behind this is very shocking and interesting, as this reflects how Koreans live their lives.
A car is the second-biggest investment or expenditure behind housing for most Koreans. Therefore, many Koreans are prudent when it comes to buying a car. While this is similar elsewhere, Koreans go way too extreme and prioritize resale value above all else. When buying a brand new car, most of us would choose our favorite color, but Korean people choose color that will retain the highest resale value which is White, Silver and Black. This was shocking to me.
Based on recent news, white represented a whopping 32%, while gray/silver accounted for 31%, followed by black at 16%. It is very rare to see red, blue, or yellow cars in Korea. In addition, most Koreans choose to purchase top-of-the-line models for the same reason. As a result, most cars on the street have panoramic sunroofs, oversized dashboard LCDs, and climate-controlled seats.
You would think that affluent Koreans would think differently, but no. Luxury cars are no exception. All Porche, Mercedes and BMW on the street are also White, Silver and Black in color. Another fun fact is that Korean loves diesel engine for economic reasons. They can afford luxury cars but they want them in Diesel to save on gas which I thought was ironic.
Koreans are very cost-conscious and financially prudent people. Most Koreans save a significant portion of their income for the future and live frugal lifestyles. I used to ride a lot of cabs back home. I would ride them when I am tired or just to avoid sweating on hot muggy days. My habit continued in Korea as well as the Cab fare in Korea is quite reasonable but most Koreans ride cabs for emergencies only. They use public transportation whenever possible to save money, and they are very disciplined about this.
I think there is a very good explanation for this phenomenon. Korea was hopelessly poor right after the Korean War, which started in 1950. After the war, Koreans worked tirelessly day and night, living a very disciplined and frugal lifestyle for a better tomorrow. This dedication allowed Korea to escape from war-torn poverty in such a short time, but this prudence is ingrained deeply within Koreans, and it is still visible in their lifestyle today.
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