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South Korean Consumers Embrace Budget-Friendly, Small-Packaging Trends Amid High Inflation

SEOUL, Dec. 17 (Korea Bizwire) – A new analysis of social media data reveals that South Korean consumers are increasingly adopting cost-conscious spending habits, focusing on low-priced and small-packaged products. This shift reflects a growing emphasis on economic efficiency in response to prolonged inflation. Rising Concerns About Inflation According to KPR Digital Communication Research Institute, [...]

South Korean Consumers Embrace ‘Wiser Wallets’ Amid Persistent Inflation, Report Finds

SEOUL, Nov. 15 (Korea Bizwire) – In response to ongoing inflation, South Korean consumers are expected to evolve beyond simple cost-cutting measures to adopt more sophisticated “wiser wallets” spending patterns in the coming year, according to a new global consumer trends report. The “2025 Global Consumer Trends Report,” released on November 14 by global data analytics [...]

Weak Growth, Easing Inflation Lead to BOK’s Policy Pivot despite Household Debt Woes

SEOUL, Oct. 11 (Korea Bizwire) — The Bank of Korea (BOK)’s first interest rate cut in 38 months highlighted the urgent need for South Korea to ease interest burdens on households and businesses to prop up sagging domestic demand despite concerns over rising home prices and household debts, experts said Friday. The BOK lowered its [...]

Consumer Inflation Slows to 3 1/2-year Low of 1.6 Pct in Sept.

SEOUL, Oct. 2 (Korea Bizwire) — South Korea’s consumer prices slowed to the lowest level in 3 1/2 years in September, falling below 2 percent for the first time since early 2021, data showed Wednesday. Consumer prices, a key gauge of inflation, rose 1.6 percent on-year last month, compared with a 2 percent increase a [...]

Households’ Surplus Funds Log Record Reduction Streak amid Inflation, Interest Rates

SEOUL, Sept. 18 (Korea Bizwire) — Excess funds held by South Korean households has fallen for eight quarters in a row amid high inflation and interest rates, data showed Wednesday. The monthly surplus of a local household came to 1.01 million won (US$753.3) per month on average in the second quarter, down 1.7 percent from [...]

Economy Shows Signs of Recovery on Strong Exports, Soft Inflation: Finance Ministry

SEOUL, Sept. 13 (Korea Bizwire) — The South Korean economy continues to show signs of recovery, driven by strong exports and manufacturing output, with consumer prices showing signs of stabilization, the finance ministry said Friday. The Ministry of Economy and Finance made the assessment in the Green Book, its monthly economic report, noting that domestic [...]

Budget-Friendly Items Surge at South Korean Convenience Stores Amid High Inflation

SEOUL, Sept. 6 (Korea Bizwire) – As inflation continues to squeeze household budgets, South Korean consumers are increasingly turning to budget-friendly options at convenience stores. CU, one of the country’s leading convenience store chains, reported a significant surge in sales of products priced under 1,000 won on September 5. The trend reflects a broader shift in [...]

Consumer Inflation Slows to 41-month Low in August

SEOUL, Sept. 3 (Korea Bizwire) — South Korea’s consumer prices slowed to the lowest level in nearly 3 1/2 years in August on easing prices of farm produce and global oil, data showed Tuesday. Consumer prices, a key gauge of inflation, rose 2 percent on-year last month, compared with a 2.6 percent on-year rise a [...]

S. Korea’s Consumer Prices Rise 2.6 Pct in July

SEOUL, Aug. 2 (Korea Bizwire) — South Korea’s inflation picked up pace in July on high prices of fruits and petroleum products, though it stayed below 3 percent for the fourth consecutive month, data showed Friday. Consumer prices, a key gauge of inflation, rose 2.6 percent on-year last month, compared with a 2.4 percent increase [...]

480,000 Won Coffee Sparks Debate in Inflation-Weary South Korea

SEOUL, Aug. 2 (Korea Bizwire) – The opening of a premium coffee shop in Seoul’s upscale Cheongdam-dong district has ignited controversy over luxury pricing in a time of high inflation, highlighting the growing economic disparities in South Korean society. Lotte Department Store introduced Bacha Coffee, a Moroccan luxury coffee brand, to South Korea on August 1. The [...]