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SOUTH KOREANS' Q1 SPENDING ON ALCOHOL TUMBLES.
SEOUL, June 8 Asia Pulse - South Koreans' spending on alcohol declined for the first time since the 1997-98 Asian financial crisis in the first quarter as people cut back on such expenditure amid the slowing economy, the central bank said Monday.
South Koreans spent 3.36 trillion won (US$2.7 billion) on alcohol and cigarette in the January-March period, down 1.5 per cent from the previous year, according to the Bank of Korea (BOK). The figure marked the sharpest decline since the fourth quarter of 2002 when such expenditure dipped 1.9 per cent, the BOK added.
Locals' expenditure on liquor shed 3.6 per cent on-year to 1.43 trillion won last quarter, marking the first decline since 2000, the BOK added. Their spending on cigarette inched up 0.1 per cent to 1.9 trillion won, the lowest since a 4.9 per cent fall in the final quarter of 2002.
The ...
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