SEOUL, Nov. 9 (Korea Bizwire) – Amid stagnant growth of local household consumption, a recent study indicated that the elderly will play an essential role in leading Korea’s future consumption. According to the report – Consumption Status of the Elderly and its Implications – compiled by the Bank of Korea’s research bureau, the contribution rate [...]
SEOUL, Aug. 16 (Korea Bizwire) – The Korean diet has shifted rapidly over the past half century to become more westernized, with increased consumption of meat and a drop in rice consumption. According to a recent report by Nonghyup’s Livestock & Economy Research Institute, the average annual meat consumption per person for 2015 was 47.6kg, [...]
SEJONG, July 28 (Korea Bizwire) – South Korea set out new tax code revisions Thursday, seeking to boost corporate investments in new future industries and household income and spending to cope with faltering exports and flaccid domestic demand. The government finalized the plan at a meeting chaired by Finance Minister Yoo Il-ho in Seoul, and [...]
SEOUL, July 6 (Korea Bizwire) – South Korea’s kimchi consumption is falling, despite the country being the originator of the pickled side dish, and even those being served on dining tables are often imports from China, research results showed Wednesday. According to an industry analysis by the World Institute of Kimchi in Seoul, South Koreans on [...]
SEJONG, Oct. 15 (Korea Bizwire) – The first Korean ‘Black Friday’ shopping event, which was initiated by the government and promoted across the country over the past two weeks, ended on October 14. The event was a desperate attempt by the government to boost consumption, with domestic demand frozen and exports low. The promotion benchmarked [...]
SEJONG, May 12 (Korea Bizwire) — South Korea’s major economic indicators are showing signs of slow improvement, signaling the economy is pulling out of a funk during the fourth quarter of last year, the finance ministry said Tuesday. The ministry, however, cautioned that Asia’s fourth-largest economy remains gripped by such external uncertainties as a weak Japanese [...]
SEOUL, Apr. 29 (Korea Bizwire) — Single Koreans in their twenties and thirties revealed what they think is the most useless consumption among Koreans of the opposite sex. According to a survey conducted by DUO on 531 single Koreans from April 20 to 27, 25.8 percent of Korean men said that women’s expenditures on snack foods [...]
SEOUL, Korea, April 30, 2014 (Korea Bizwire) – Amid the atmosphere of nationwide mourning following the ferry sinking incident, businesses are refraining from engaging in aggressive marketing for May. The shift in attitude reflects how the whole economy is still reeling from the tragic maritime accident; May is a period during which the economy enjoys a momentary boost driven by the [...]