Military slang term primarily used in Korea and Japan. Used to describe something cheap or of low quality.
"Take the number 20 kimchi bus outside the walk through gate to get to the train station in Pyong-taek. It'll cost you less that a buck"
"Dude, I just picked up the kimchi copy DVD of War of The Worlds today for $5."
"Ha, I can't believe you paid money for that set of kimchi Tommy Hilfiger sweats. They say "TOMY HILPIGGER" you idiot."