SEOUL, Sept. 19 (Korea Bizwire) — A government-backed consumer coupon program has driven a notable increase in sales at South Korea’s smallest merchants while also lifting household spending among shop owners, Shinhan Card said Thursday. An analysis by the company’s Big Data Research Center found that after the rollout of the “livelihood recovery consumer coupons,” [...]
SEOUL, Apr. 19 (Korea Bizwire) — With the cost of living soaring, essential household spending in South Korea has risen to an 18-year high, spurred in part by a precipitous increase in grocery prices. Data from the Bank of Korea revealed on Wednesday that South Koreans spent nearly 317.2 trillion won on food, non-alcohol drinks, rent, [...]
SEOUL, Feb. 20 (Korea Bizwire) – South Koreans’ household spending on food rose for the first nine months of last year, a sign of weak recovery in private consumption, data showed Tuesday. Households spent a total of 573.6 trillion won (US$537.3 billion) during the January-September period, up 3.3 percent from a year earlier, according to the data from the Bank of Korea. At the same time, household spending on food items rose 4.7 percent on-year to 78.9 trillion won. Based on the data, the [...]
SEOUL, Dec. 6 (Korea Bizwire) – South Korean households’ overseas spending rose 16.8 percent in the third quarter from a year earlier on increased outbound travel to foreign countries, the central bank said Tuesday. South Korean households spent 8.21 trillion won (US$7 billion) overseas in the July-September period, compared with 7.03 trillion won in the [...]
SEOUL, Sept. 6 (Korea Bizwire) – South Korean households’ overseas spending hit a record high in the first half of 2016 from a year earlier on increased outbound travel to neighboring countries, the central bank said Tuesday. South Korean households spent 13.6 trillion won (US$12 billion) overseas in the January-June period, up 10.7 percent from [...]
SEOUL, Aug. 16 (Korea Bizwire) – Among many things, Korean parents are well-recognized for their passion for educating their children. But a recent KIET (Korea Institute for Industrial Economics & Trade) report revealed that education expenditures are more sensitive to changes in income compared to other areas of household spending. The report showed that spending [...]