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,…
In Seoul's Yeouido district, a 33-year-old office worker named Choi has adjusted her spending habits due to rising costs. She now dines at her office cafeteria instead of eating out, where she spends about half the price. Choi's stock portfolio has also made her more conservative with her spending, leading her to opt for domestic travel over international trips this summer.
She admitted feeling reluctant to spend money on social outings or new clothing, reflecting a broader trend in Korean consumer sentiment. According to the Bank of Korea's data, the Composite Consumer Sentiment Index (CCSI) dropped to 104.5 in August from the previous month's 106.8, marking a 2.3-point decline after three consecutive monthly increases.
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- Higher prices, falling stocks dent consumer sentiment koreatimes.co.kr
