Tag: domestic demand

domestic demand

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Weak demand hits Korea's niche loans

Loans backed by churches, frozen seafood and cattle are losing momentum as Korea's domestic economy weakens.

2026.8.22

Customers purchase jeotgal (salted seafood) at a traditional market in Namdong District, Incheon, on Nov. 16. [YONHAP]

Consumer sentiment hits 8-year high on U.S. tariff deal, robust Q3 growth

Korea's consumer sentiment rose to an eight-year high in November, buoyed by the country's tariff agreement with the United States and stronger-than-expected quarterly economic growth, the central bank said Tuesday.

2025.11.25

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A worker operates machinery at an apartment construction site in Seoul on Aug. 11. [YONHAP]

Korea halves growth forecast to 0.9 percent as construction slump drags on

The Korean government has cut its 2025 economic growth forecast to 0.9 percent citing weaker exports and construction sector decline.

2025.8.22

A street filled with hagwons, or private cram schools, in Dogok-dong in Gangnam District, southern Seoul. [JOONGANG ILBO]

Not marts or restaurants: Where gov't vouchers boosted sales the most

Government’s consumer coupons drove the biggest spending surge in hagwon, or private cram schools, as families seek to cut fixed costs amid inflationary pressure.

2025.8.14

A special lease notice is posted on a storefront in Myeong-dong, Jung District, central Seoul, on May 25. [YONHAP]

Korea's spending declines during May holiday period despite hopes for consumption boost

Korea’s consumer spending sharply declined during the early May holiday period, multiple indicators showed, despite expectations of a boost in domestic consumption driven by the long holiday.

2025.5.28

Travelers move around the duty-free shopping area in Incheon International Airport's Terminal 1 on May 2. [NEWS1]

Overseas spending soars during Korea's 'golden week,' putting effectiveness of substitute holidays in doubt

Overseas spending far outpaced domestic consumption during Korea’s six-day “golden week” holiday earlier this month, raising questions about the effectiveness of government-designated substitute holidays aimed at boosting local demand.

2025.5.19

Ads for a clearance sale are posted on a store in Myeong-dong, a major shopping district in central Seoul, on May 11. [YONHAP]

KDI slashes Korea's 2025 economic growth forecast to under 1%

The Korea Development Institute (KDI) halved its 2025 economic growth outlook for the country to 0.8 percent from 1.6 percent in just three months, the first sub-1 percent projection by any major domestic research body for this year.

2025.5.14

Restaurant menus are displayed on a street in Myeong-dong, central Seoul, on March 16. [NEWS1]

Consumers tighten the belt on dining out, eating in on soaring food prices

Spending on both dining out and eating at home dropped for the first time since the collection of relevant data started in 2005.

2025.5.5

Passengers wait to pass through customs at Incheon International Airport on Feb. 27. Statistics Korea data showed that tourism and entertainment expenses increased in the fourth quarter of 2024 while spending on cars sharply declined. [NEWS1]

Korean household income outpaces spending for second straight quarter

Korean incomes rose in the fourth quarter of 2024, but spending lagged due to inflation and economic sentiment.

2025.2.27

Customers shopping at a discount mart in Yeongdeungpo District in western Seoul in May. [Yonhap]

Retail sales see record decline on sluggish demand: Data

Korea's retail sales continued to decrease for 2 and a half years, led by weak demand across durable and nondurable goods, government data showed Sunday.

2024.11.3