Pinched Consumers Cut Down on Snacks
Consumers have been quick to cut down on cookies, luxury goods and clothes as inflation soars. In a poll of 1,000 subscribers of retail giant Lotte, 30.9 percent of respondents said they cut down on snacks first. Next came meat, coffee and beverages and health supplements. But health-conscious consumers were less inclined to reduce spending on vegetables, fish and rice.
Every Korean 30-Something Owes W100 Million
Korea to End This Year in the Red as Exports Plunge
Vietnamese President to Visit Seoul
Samsung Donates W50 Billion to Charity
Korea Faces Tough Fight in Must-Win World Cup Clash Against Portugal
Slowing Factory Output Signals Economic Slump
Christmas Charity Campaigns Get Under Way
The Community Chest of Korea kicked off its annual Christmas collection campaign to help needy people on Thursday. Donations will be used to help communities in need of support, families in crisis and people on the margins of society.
Kim Jong-un Bestows Hero's Title on Mobile Missile Launcher
North Korea has bestowed a hero's title on a transporter erector launcher that was used to fire a Hwasong-17 intercontinental ballistic missile. This seems to be the first time that an inanimate object has been honored with the country's highest medal.
Carmakers Offer Discounts as Economy Sputters
Automakers have started offering discounts again for the first time in two years amid declining demand due to the economic slowdown. Inventory is piling up despite supply bottlenecks, prompting them to slash the prices of some models.