SEOUL, Feb. 12 (Korea Bizwire) — A recent survey found that one in two people in their 20s and 30s have positive perceptions of the “flex” consumption trend, a form of consumption in which people boast while spending money on expensive products. According to a survey of 3,064 people in their 20s and 30s conducted [...]
SEOUL, Jan. 3 (Korea Bizwire) — The boundaries of popular items by each age group are being torn down. The online shopping mall Gmarket said Thursday that its analysis of last year’s preferred products by age group showed that young people in their teens to 30s preferred retro items, while those in their 40s to [...]
SEOUL, Nov. 1 (Korea Bizwire) — South Korea on Friday kicked off its annual shopping festival to attract more overseas tourists and boost domestic consumption by offering discounts through collaboration with major retailers. The annual Korea Sale FESTA kicked off for a 22-day run on Nov. 1, according to the Ministry of Trade, Industry and [...]
SEOUL, Oct. 24 (Korea Bizwire) — South Korea will launch a nationwide shopping festival next month in conjunction with major shopping malls and retailers to attract overseas tourists and boost domestic consumption, the event’s organizers said Thursday. The annual Korea Sale FESTA will kick off for a 22-day run on Nov. 1, according to the [...]
SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s coal consumption increased last year, bucking the global trend for reducing carbon emissions, a report showed Sunday. South Korea consumed 88.2 million tons of oil equivalent (TOE), a unit of energy, in 2018, up 2.4 percent from a year ago, according to the London-based energy company BP’s [...]
SEOUL, Mar. 5 (Korea Bizwire) — Income has a greater impact than assets on consumption by South Korean households comprised of seniors, a parliamentary report said Tuesday. A 1 percent increase in elderly households’ earned income made their consumption expenditure go up 0.09 percent between 2006-2016, according to the report by the National Assembly Budget [...]
SEOUL, Feb. 20 (Korea Bizwire) — A gasoline-burning automobile consumed an average 1,159 liters last year, down 2.4 percent from a year earlier, as drivers cut back on spending probably to cope with high prices, industry data showed Wednesday. According to the Korea Petroleum Association, the figure marks the lowest since 2006, when the comparable [...]
SEOUL, Jan. 28 (Korea Bizwire) — Per capita rice consumption in South Korea dropped to a record low in 2018, data showed Monday, although the rate of decrease slowed compared with recent years on the back of the popularity of ready-to-eat meals. According to the data by Statistics Korea, the average annual consumption of rice [...]
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 [...]
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 [...]