South Korea: income affects senior households’ spending more than assets
Income has a greater impact than assets on consumption by South Korean households comprised of seniors, a parliamentary report said Tuesday. A 1 percent increase in elderly households’ earned income made their consumption expenditure go up 0.09 percent between 2006-2016, according to the report by the National Assembly Budget Office. In contrast, elderly households’ spending […]
S. Koreans traveling more but spending less
South Koreans traveling overseas spent a record amount last year, but spending per person declined, central bank data showed Wednesday. The current account for last year showed travel expenditures of US$31.97 billion, the highest since recordkeeping began in 2006. Past figures show increases from $15 billion in 2009 to $20 billion in 2012, $25 billion […]
Malleable Identity, Molded Identity
What makes you you? Is it your fingerprint? Maybe the passport you show to the officer before your flight. At any first meeting, people will ask one another, “What’s your name?”, “Your job?”, or “Where are you from?”. And then you will go down the list, describing yourself according to facts that were decided […]
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