Higher prices, falling stocks dent consumer sentiment
A 33-year-old office worker in Yeouido, Seoul, surnamed Choi, has increasingly turned to her office cafeteria for lunch, as the rising cost of eating out has become burdensome. "I spend about 15,000 won ($11) on lunch when I eat out, but the office cafeteria costs about half as much," she said. Instead of traveling overseas this summer, Choi took a three-day trip to Goseong, Gangwon Province,…
A 33-year-old office worker in Seoul is opting for more affordable lunch options, as rising costs have made dining out less appealing. Instead of spending roughly $11 on meals at restaurants, she now dines at her office cafeteria, which costs around half as much. The office cafeteria saved her money, and she decided to take a domestic trip instead of traveling abroad this summer to cut expenses further.
With her stock portfolio performing poorly, she feels hesitant to spend money on leisure activities or new clothing, reflecting a growing trend of decreased consumer confidence in Korea. According to data from the Bank of Korea, the Composite Consumer Sentiment Index fell to 104.5 in August, down 2.3 points from July. This marks the first decline in three consecutive months, following a rise from May.
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- Higher prices, falling stocks dent consumer sentiment koreatimes.co.kr
