Household Spending on Books Falls to Record Low

Korean households spent a mere W20,570 per month on books last year, the least since figures were first compiled in 2003 (US$1=W1,127). Statistics Korea on Sunday said the number plummeted from W26,346 in 2003.

The recession and the emergence of smartphones and tablet PCs are thought to be the main reasons for the fall.

Since the average price of a book last year was W13,010, that means households bought less than two books a month. The figure includes textbooks, study aids and reference books for students. An official at Statistics Korea said, "The money spent on books for leisure reading is probably minimal."