Koreans love for communications!
According to the Bank of Korea, Koreans are spending more of their money on communications bills such as phones and internet connections, compared to what they are spending on eating out.
From Jan to June 2006, the average household spending on communications was 13.2 trillion won, while dining out expenses accounted to 13 trillion won. Probably by now, most of us would be confused as to how many zeros there are in the trillion, right? US$1 is exchanged to about 960 Korean Won.
I guess this also helps dieters to remain slim….. as they would rather spend money on surfing the Internet, or talking with their friends on their mobile phone, rather than eating.
I remembered how amazed i was as to how ”connected” Seoul was. During a visit to Korea a couple of years back, i was surprised to see many young kids surfing the Internet in the McDonald’s outlets or via internet kiosks located in various shopping malls. At that point, many cities in Malaysia were not even prepared for Broadband yet….
No wonder the Korean e-commerce spending is also one of the most popular one, among the Asian countries, and at this rate, their e-commerce growth will still be among the strongest ones in the region.
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