Household spending Archives | Be Korea-savvy
Household Spending on Food Grew in First 9 Months of 2017

Household Spending on Food Grew in First 9 Months of 2017

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 [...]

Households’ Overseas Spending Tops 8 Tln Won in Q3

Households’ Overseas Spending Tops 8 Tln Won in Q3

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 [...]

Households’ Overseas Spending Hits Record High in H1

Households’ Overseas Spending Hits Record High in H1

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 [...]

Educational Expenditures Most Sensitive to Changes in Income

Educational Expenditures Most Sensitive to Changes in Income

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 [...]