consumption Archives | Be Korea-savvy
‘Makgeolli’ Contributing to Alcoholic Consumption by Older Women: Report

‘Makgeolli’ Contributing to Alcoholic Consumption by Older Women: Report

SEOUL, Dec. 31 (Korea Bizwire) — The traditional alcoholic beverage “makgeolli” has contributed to the increased consumption of alcoholic beverages by older women, a report showed Monday. According to the report conducted by a team of researchers at Seoul National University College of Medicine, a daily average of alcoholic beverages consumed by women aged between [...]

Number of Chickens Raised in South Korea Hits an All-Time Record

Number of Chickens Raised in South Korea Hits an All-Time Record

SEJONG, Jul. 20 (Korea Bizwire) — The total number of chickens currently being raised domestically has risen to an all-time high. According to a report released by Statistics Korea and the Korean Institute for Animal Products Quality Evaluation yesterday, the number of chickens currently being raised in the second quarter of the year (as of [...]

South Koreans Biggest per Capita Consumers of Seafood

South Koreans Biggest per Capita Consumers of Seafood

SEOUL, Jul. 13 (Korea Bizwire) — South Korea’s yearly per capita consumption of seafood has reached nearly 60 kilograms, making the nation one of the world’s largest consumers of natural sea products, ahead of Norway and Japan. These numbers were reiterated by the Norwegian Seafood Council at a press conference held yesterday in central Seoul. [...]

Rate Hikes Can Cause Heavily Indebted Households to Cut Back on Spending: Report

Rate Hikes Can Cause Heavily Indebted Households to Cut Back on Spending: Report

SEOUL, Dec. 29 (Korea Bizwire) — A country with high household debt that raises key interest rates can be affected by a drop in total demand and consumption, a report said Friday. “We’ve found that key interest rate hikes have a great impact on the economic adjustment in a country which has a high degree [...]

Overseas Luxury Brands Booming with Young South Korean Consumers

Overseas Luxury Brands Booming with Young South Korean Consumers

SEOUL, May 17 (Korea Bizwire) – Demand is high for overseas luxury goods, particularly among younger consumers in their 20s and 30s, despite South Korea’s unrelenting economic slump.  According to Lotte Department Store, sales of overseas fashion items, largely comprising of high-end brands, jumped by more than 30 percent in 2016 compared to 2015 for [...]

Reducing Household Debt May Shrink Consumption

Reducing Household Debt May Shrink Consumption

SEOUL, April 3 (Korea Bizwire) – The Korea Institute of Finance suggested Sunday that drastically reducing household debt could shrink consumption, raising a dilemma for those crafting South Korean economic policy to combat the struggle to cope with soaring debt and waning domestic consumption.  According to researcher Park Choon-sung in his report on household debt [...]