consumption Archives | Be Korea-savvy
South Korean Luxury Consumption Spreads from Bags to Other Goods

South Korean Luxury Consumption Spreads from Bags to Other Goods

SEOUL, Dec. 14 (Korea Bizwire) — South Koreans are buying wider range of luxury goods from handbags to watches, jewelry, scarves and perfumes. Market researcher Euromonitor reported 4.6 percent growth in South Korea’s luxury market from last year, reaching an aggregate total of US$14.2 billion. Aside from sales of luxury cosmetics, which have struggled during [...]

Nationwide Sales Festival Leads to Better-than-expected Results

Nationwide Sales Festival Leads to Better-than-expected Results

SEOUL, Nov. 10 (Korea Bizwire) — The ongoing nationwide shopping festival, aimed at boosting domestic consumption hit by the new coronavirus pandemic, has already seen notable results in terms of card spending and retail sales, the commerce ministry said Tuesday. The annual Korea Sale FESTA kicked off for a 15-day run on Nov. 1, with [...]

S. Korea to Resume Distribution of Coupons for Museums, Theaters, Sports Facilities

S. Korea to Resume Distribution of Coupons for Museums, Theaters, Sports Facilities

SEOUL, Oct. 18 (Korea Bizwire) — The government will begin distribution of a series of discount coupons this week to spur consumption in the live performance, film and sports industries hit-hard by the coronavirus pandemic, officials said Sunday. From Thursday, the government will gradually provide discount coupons, starting with 40 percent discounts for entrance to [...]

S. Korea’s H1 Jet Fuel Consumption Dips 40 pct on Virus

S. Korea’s H1 Jet Fuel Consumption Dips 40 pct on Virus

SEOUL, Sept. 11 (Korea Bizwire) — South Korea’s jet fuel consumption tumbled nearly 40 percent in the first half of the year as the coronavirus pandemic caused air travel demand to hit the skids, data showed Friday. Consumption of jet fuel in Asia’s fourth-largest economy came to 11.6 million barrels in the January-June period, down [...]