April 27, 2024
Economy
Bars battered by economic slump
[THE INVESTOR] The number of bars and pubs in Korea has continually decreased in recent years amid a protracted economic slump, government data showed on April 11.
Industry figures showed a 6.1 percent dip to 55,761 in January from 59,316 from a year earlier, according to the statistics released by the National Tax Service.
By region, the southeastern industrial city of Ulsan witnessed the biggest drop in the number of bars with numbers hitting 10.9 percent, followed by Incheon at minus 10.1 percent and Seoul with a 7.8 percent decrease.
The decline is attributed to the economic slump leading to the reduction in the company get-together drinking gathering. The rise in the number of people drinking at home also played a part in the change, industry sources said.
By Song Seung-hyun and newswires (ssh@heraldcorp.com)
Industry figures showed a 6.1 percent dip to 55,761 in January from 59,316 from a year earlier, according to the statistics released by the National Tax Service.
By region, the southeastern industrial city of Ulsan witnessed the biggest drop in the number of bars with numbers hitting 10.9 percent, followed by Incheon at minus 10.1 percent and Seoul with a 7.8 percent decrease.
The decline is attributed to the economic slump leading to the reduction in the company get-together drinking gathering. The rise in the number of people drinking at home also played a part in the change, industry sources said.
By Song Seung-hyun and newswires (ssh@heraldcorp.com)
