As South Korea’s population rapidly ages, makers of consumer goods from washing machines to packaged foods and pet products are increasingly targeting people like Lee Dong-soo, who is 34 and lives alone with his cat.
Spending by so-called "golden singles" – young unmarrieds living alone – who splash out more on food and other goods, is a bright spot for an economy plagued by sluggish consumer demand that has lagged overall growth for most of the past two years. "Compared with married friends, I spend considerable money on food, shopping and dabbling in new hobbies," said Lee, a professional singer living in Seoul’s trendy Gangnam district.
The South Korean population is the world’s fastest-aging, and younger people are getting married later or not at all. The average age of first-time marriages last year was 32.2 for men and 29.6 for women, up from 27.8 and 24.8 in 1990.
(Source: CNBC)