Koreans in their 40s and 50s spend up to a million won ($910) more than other age brackets on monthly expenses, a study showed.

“Marketing strategies from now on should target middle-aged females that hold economic power,” said Kim Dong-yeol, a principal researcher at Hyundai Research Institute. The institute carried out a telephone survey of 1,014 Korean adults.

Among different age groups who participated in the survey, men and women in their 40s spent approximately 2.93 million won a month, while those in the 50-59 group spent 2.87 million won.

Given that large sums of middle aged women’s spending were on basic needs for the whole family such as housing, groceries and children’s education, the most active consumer group was presumed to be unmarried men aged between 30-40 who solely spend money for personal use such as fashions, cigarette and alcohol.   

By Yoon Ha-Youn, Intern reporter,
(yhayoun@heraldcorp.com)