Recent Study: Consumer Lifestyles in South Korea
For years, South Korean consumers have been facing worryingly high levels of household debt and this has affected demand for many non-essential products and services. This is plaguing nearly all age cohorts, including those dubbed Mid-Lifers; six out of 10 South Koreans in their forties and fifties are in debt. Nevertheless, when they do shop for products an increasing number of South Koreans-always technology pioneers-go online. Between 2007 and 2012, online purchasing grew by nearly 50%.
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