SEOUL, July 22 (Korea Bizwire) — President Lee Jae Myung on Tuesday called on the government to ramp up efforts to boost domestic consumption alongside universal cash handouts, while also ensuring inflation is kept in check. Lee made the remarks during a Cabinet meeting as the government began issuing cash handouts, called “consumption coupons,” following [...]
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, May 30 (Korea Bizwire) — South Korea’s economy showed renewed signs of weakness in April, with industrial production, consumption, and investment all posting declines — the first “triple minus” since January — as the impact of new U.S. auto tariffs begins to ripple through key sectors. According to data released Friday by Statistics Korea, [...]
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, March 4 (Korea Bizwire) — South Koreans consumed an average of 30 kilograms of pork per person in 2024, marking a 6.8% increase from the average consumption of the past several years, according to a report released Monday by the Korea Rural Economic Institute (KREI). The figure, published in the KREI’s “Agricultural Outlook 2025” report, [...]
SEOUL, Sept. 30 (Korea Bizwire) – A majority of South Koreans are willing to cut their annual consumption by 15% or more to combat global warming, according to a recent international survey that highlights the country’s growing environmental consciousness. The Korea Institute for Health and Social Affairs released a report comparing climate change perceptions across 10 [...]
SEOUL, Aug. 23 (Korea Bizwire) – A recent study has revealed a significant change in the eating habits of Seoul’s residents over the past decade, with a notable decrease in fruit consumption and an increase in meat intake. According to a report titled “Analysis of Seoul Citizens’ Dietary Habits and Policy Directions” released by the Seoul [...]
SEOUL, Jun. 4 (Korea Bizwire) – Park, a 30-year-old office worker, recently made an uncharacteristic choice while shopping online: Instead of her usual environmentally friendly detergent, she added a regular brand to her virtual cart. Since starting to live independently in 2021, Park had used biodegradable sponges, shampoo bars and other eco-friendly products. But with prices [...]
SEOUL, May 21 (Korea Bizwire) — South Korea’s consumer sentiment declined to a six-month low for May amid high inflation and market rates, a central bank poll showed Tuesday. The composite consumer sentiment index stood at 98.4 this month, down from the previous month’s 100.7, the lowest since November last year, according to the survey [...]
SEOUL, Mar. 26 (Korea Bizwire) — South Korea’s consumer sentiment snapped an improvement for the third consecutive month in March amid soaring prices of farm goods and a slump in private spending, a central bank poll showed Tuesday. The composite consumer sentiment index stood at 100.7 this month, down from 101.9 the previous month, according [...]