The Korea Herald


Average monthly household spending stands at W2.45m in 2019

By Yonhap

Published : May 7, 2020 - 15:55

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(Yonhap) (Yonhap)

SEJONG -- South Korean households spent an average of 2.45 million won ($2,003) per month in 2019, data showed Thursday.

In 2018, South Korean households spent an average 2.53 million won, but an annual comparison may be inappropriate because Statistics Korea changed its method of compiling the data last year, the statistics agency said.

Expenditures on food and nonalcoholic beverages came to 333,000 won last year, accounting for 13.5 percent of the total, according to the data.

The data also showed that spending on energy and accommodation was tallied at 277,000 won, and that transportation-related expenditures came to 296,000 won.

Expenditures by four-member households averaged 3.71 million won, while the figure for single-member households reached 1.42 million won last year, according to Statistics Korea. (Yonhap)