No way, that Sherman with the RLH has a midsole and is $305. (And that's with more premium materials, such as the RLH and American Bison.) Their demand must really be THAT good. I would think their cost to produce a camp moc on leather sole is like $50-$75.
If I had to speculate, because it costs a considerable amount to be an affiliate vendor and their prices weren't that competitive relative to other retailers selling the same brands because they had to factor in their own duties when importing their stock into South Korea. (From what I gather, the import duties in South Korea are significant.)
The recent strengthening of the Euro vs the Dollar is not as significant as the initial weakening of the Euro/Dollar. The exchange rate is not far from where it was when they made the initial adjustment. This suggests to me that any increase that may have occurred was not the result of currency fluctuations.
Here is a 2 year chart
Here is a 1 year
When buying shoes from Europe in general, you really want to know you size. Returns are not easy and shipping is not cheap. If you are willing to bear those costs and bite your nails for weeks as the package sits in foreign customs, go for it. Here is the blue. I'd say that Betty is right. Their pics are pretty true to color.