Tag: Consumer spending

Consumer spending

Latest News

Containers ready for export are piled up at a port in Incheon on Feb. 1. [NEWS1]

KDI ups Korea's 2026 growth outlook to 1.9 percent, cites strong chip exports, consumer spending

Korea's state-run economic think tank on Wednesday raised its 2026 growth forecast for the domestic economy to 1.9 percent, citing strong semiconductor exports and a recovery in consumer spending.

2026.2.11

Police commandos patrol a street of a shopping district in Daegu on Sunday. [NEWS1]

Knife attack, Covid and heat wave signal red for economy

The summer vacation season has arrived amid torrential downpours and monsoons, but domestic demand is yet to overcome recent hurdles including knife incidents, sweltering heat and the resurgence of Covid-19 that are all weighing on summer spending.

2023.8.7

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Bumpy business

The business survey index (BSI) of small business owners in Korea dropped 5.7 points to 57.0 on month in November, according to the Small Enterprise and Market Service on Thursday.

2022.12.1

Oh Yoon-hae, a researcher at Korea Development Institute (KDI)’s markets and institutions department, left, and Kim Mee-roo, a researcher at KDI’s knowledge economy department, talk about the effectiveness and implications of the first emergency relief grants that were distributed to the public in May at the government complex in Sejong City on Wednesday. [YONHAP]

About a third of relief money went to consumer spending

Only about 30 percent of the government's first emergency relief grants were used for consumer spending, the Korea Development Institute (KDI) reports.

2020.12.23

Customers keep a distance while waiting for a seat at a restaurant in Seoul on Monday. As the number of new cases continues to remain above 200, stricter social distancing regulations have been implemented. [YONHAP]

Signs of a rebound in third quarter are disappearing

A rebound in the economy glimpsed in June turned out to be a mirage as Korean households burned through the government’s emergency relief grant stimulus money.Industrial output, spending and even investment either slowed down or shrank in July.

2020.8.31

A banner advertising a government-led discount event hangs in the Mangwon Traditional Market in western Seoul on June 28. The government hopes to continue to boost the domestic economy by encouraging spending. However, industry continues to struggle with the impact of the coronavirus pandemic. [YONHAP]

Domestic spending rises, factory output crashes

Consumer spending in May managed to rise compared to a year ago, largely thanks to emergency relief grants paid to households by the government. But manufacturing output shrunk at the sharpest rate since the global meltdown of 2008-2009.

2020.6.30

Tag: Consumer spending

Consumer spending

Latest News

KDI ups Korea's 2026 growth outlook to 1.9 percent, cites strong chip exports, consumer spending

Knife attack, Covid and heat wave signal red for economy

Most popular

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Bumpy business

About a third of relief money went to consumer spending

Signs of a rebound in third quarter are disappearing

Domestic spending rises, factory output crashes