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Koreans Cut Back Cash Gifts, Donations amid Sluggish Economy

Koreans Cut Back Cash Gifts, Donations amid Sluggish Economy

SEJONG, June 12 (Korea Bizwire) — South Koreans are cutting back on their cash gifts and donations as the economy remains sluggish, government data showed Friday. According to the data by Statistics Korea, transfer spending that includes cash given as wedding and condolence gifts fell in the first quarter after backtracking in the October-December period. [...]