SEOUL, June 18 (Korea Bizwire) — The Bank of Korea has raised alarm over South Korea’s persistently high cost of essential goods, warning that it is outpacing both inflation and global averages, and is stifling consumer spending—particularly among low-income households. In a report released Wednesday, the central bank found that from the onset of the [...]
SEOUL, June 2 (Korea Bizwire) — South Koreans are spending a smaller share of their income than they did a decade ago, signaling deeper shifts in household behavior amid demographic and economic changes, according to a new report released by the Korea Chamber of Commerce and Industry (KCCI). The report, titled “Changes in Consumption Propensity by [...]
SEOUL, April 24 (Korea Bizwire) — South Korea’s domestic consumption has entered a prolonged downward trend, driven not by short-term disruptions like COVID-19 or inflation, but by deep-rooted structural issues such as demographic aging, employment patterns, and industrial shifts, according to a new report released on April 23, 2025, by the Korea Chamber of Commerce and [...]
SEOUL, Aug. 22 (Korea Bizwire) — South Korea’s consumer confidence has hit a 22-year high for the second half of the year on expectations for the country’s newly inaugurated government, a survey showed Tuesday. South Korea’s overall consumer confidence for the July-December period stands at an average 78 on a full scale of 100, up [...]
SEOUL, March 7 (Korea Bizwire) – After months of political scandals that have left the nation much divided, political stability is now of great importance to South Koreans. According to Nielsen’s latest report on consumer confidence, “economy” was the biggest concern for 33 percent of Korean consumers in the previous quarter (Q4 2016), followed by [...]
SEOUL, Dec. 30 (Korea Bizwire) – Forty-two percent of South Korean households believe their economic conditions will deteriorate next year, according to a survey by Gallup Korea released Friday. The survey suggested that South Korea’s consumer confidence has sharply eroded amid uncertainties in the troubled shipping and shipbuilding sectors, and an ongoing influence-peddling scandal involving [...]
SEOUL, Nov. 7 (Korea Bizwire) – Consumer confidence in South Korea fell in the third quarter, a survey conducted by Nielsen showed on November 6. According to the survey results, South Korean consumers were quite pessimistic. Their consumer confidence stood at 57th among 60 countries around the world, declining by one point to 52 compared with [...]
SEOUL, Sep. 28 (Korea Bizwire) – The balance of money surplus held by Korean households has approached to the 30-trillion-won level during the second quarter of this year, due to weak private consumption. This is the highest level since the Bank of Korea changed the way it compiles the data in the first quarter in [...]