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Consumer sentiment falls for 1st time in 6 months amid U.S. tariff woes: BOK

Published: 24 Sep. 2025, 09:23 Updated: 24 Sep. 2025, 16:08

Shoppers look through fresh produce at a large retail store in Seoul on Aug. 5. [NEWS1]

Korea's consumer sentiment fell for the first time in six months in September amid concerns over an export slowdown following the United States' new tariff scheme, the central bank said Wednesday.

The composite consumer sentiment index stood at 110.1 this month, down 1.3 points from August, according to a survey conducted by the Bank of Korea (BOK).

The index had climbed for five straight months through August, reaching its highest level since January 2018, on the back of solid exports and optimism over the government's supplementary budget.

A reading above 100 indicates that optimists outnumber pessimists, while a figure below 100 means the opposite.

The index plunged below 90 in December, following former President Yoon Suk Yeol's imposition of martial law, and then remained in the 90-point range before climbing to over 100 in May.

"The decline came as concerns grew over a slowdown in exports due to the impact of new U.S. tariffs, as well as the prolonged slump in the construction sector," a BOK official said.

The U.S. has agreed to impose a 15 percent tariff on Korean goods, rather than the initially threatened 25 percent, while Seoul has agreed to create a US$350 billion fund for U.S. investments. Bilateral talks are underway to set details of the agreement, with no formal agreement having yet been finalized.

Yonhap