spending Archives | Be Korea-savvy
Households’ Q3 Spending on Liquor, Tobacco Hits New High amid Pandemic

Households’ Q3 Spending on Liquor, Tobacco Hits New High amid Pandemic

SEJONG, Nov. 25 (Korea Bizwire) — South Korea’s household spending on alcohol and cigarettes reached a new record high in the third quarter as the coronavirus outbreak forced more people to stay home, government data showed Wednesday. Local households spent an average of 42,980 won (US$38.7) on liquors and cigarettes during the July-September period, up [...]

Coronavirus Sends S. Korea’s Consumer Spending Indoors Plunging

Coronavirus Sends S. Korea’s Consumer Spending Indoors Plunging

SEOUL, Sept. 25 (Korea Bizwire) — The coronavirus pandemic has resulted in a plunge in South Korean consumers’ spending at department stores, cinemas and other large indoor facilities, an expert said Friday. In contrast, consumer spending at outdoor and small facilities, including neighborhood grocery stores and camping sites, has gone up, said Lee Jae-ho, head [...]

S. Korea’s Chipmaking Equipment Spending Likely to be 3rd Largest This Year

S. Korea’s Chipmaking Equipment Spending Likely to be 3rd Largest This Year

SEOUL, July 22 (Korea Bizwire) — South Korea’s spending on chipmaking equipment is likely to be the third largest of any country this year, industry data showed Wednesday, amid solid global chip demand sparked by the pandemic-driven stay-at-home economy. South Korea, home to major memory chip producers Samsung Electronics Co. and SK hynix Inc., is [...]

‘Hallyu’ Tourists Spent US$1,007 on Average in 2019, BTS Most Favored

‘Hallyu’ Tourists Spent US$1,007 on Average in 2019, BTS Most Favored

SEOUL, July 16 (Korea Bizwire) — Foreigners who traveled to South Korea last year to consume K-pop goods and content were estimated to have spent US$1,007 on average, according to a report Thursday. In its latest tourism industry analysis report, the state-run Korea Tourism Organization (KTO) estimated that some 1.11 million foreigners came to South [...]

Many Parents Considering Spending Virus Relief Funds on Children’s Private Education

Many Parents Considering Spending Virus Relief Funds on Children’s Private Education

SEOUL, May 13 (Korea Bizwire) — Many South Korean families could use their emergency coronavirus relief funds on private education costs due to the rather broad spending restrictions, online comments and opinions suggested Wednesday. Earlier in the day, the government began offering emergency funds in the forms of credit or debit card points — 1 [...]

Credit Card Spending Drops at Record Rate in March amid Virus Woes

Credit Card Spending Drops at Record Rate in March amid Virus Woes

SEOUL, April 28 (Korea Bizwire) — South Korea’s credit card spending fell at the fastest rate ever last month, data showed Tuesday, amid the spread of the new coronavirus that continued to keep people away from unnecessary contact. In March, the amount of purchases using credit and debit cards dropped 4.3 percent from the same [...]