A 33-year-old office worker in Yeouido, Seoul, surnamed Choi, has increasingly turned to her office cafeteria for lunch, as the rising cost of eating out has become burdensome. “I spend about 15,000 won ($11) on lunch when I eat out, but the office cafeteria costs about half as much,” she said. Instead of traveling overseas this summer, Choi took a three-day trip to Goseong, Gangwon Province, opting for a domestic trip to keep costs down as her stock portfolio has made her more cautious about spending. “I’ve been in the red for several months. Every time I look at my stock app, I feel more reluctant to spend money on meeting friends or buying new clothes,” she said. Choi’s experience reflects a broader shift in consumer sentiment in Korea, as rising prices and stock market volatility weigh on household spending. According to data released by the Bank of Korea (BOK), Tuesday, the Composite Consumer Sentiment Index (CCSI) stood at 104.5 in August, down 2.3 points from the previous month. The index had risen for three consecutive months from May, before reversing course in August. A reading ab
Higher prices, falling stocks dent consumer sentiment
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